AVP Infracon Limited share price made a tepid debut on NSE SME today. On NSE SME, AVP Infracon share price opened at ₹79, which is 5.33% higher than the issue price of ₹75. Following a lukewarm listing, the stock was locked in 5% lower circuit.
AVP Infracon IPO opened for subscription on Wednesday, March 13, and closed on Friday, March 15. The issue was booked 21.45 times on the third day, with the retail portion subscribed 22.49 times and non-institutional investors subscribed 46.15 times, as per data available on chittorgarh.com. The QIB portion was booked 1.05 times.
AVP Infracon IPO price band was fixed in the range of ₹71 to ₹75 apiece. AVP Infracon IPO lot size consisted of 1,600 shares. Investors could bid for a minimum of 1,600 shares and in multiples thereof.
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AVP Infracon IPO, which is worth ₹52.34 crore, comprises a fresh issue of 6,979,200 equity shares with a face value of ₹10. There is no offer-for-sale component.
The proceeds from the fresh issue will be used for the following objectives: meeting working capital requirements, purchasing capital equipment, general corporate purposes, and paying public issue expenses.
Purva Sharegistry India Pvt Ltd is the issue's registrar, while Share India Capital Services Private Limited is the book running lead manager of the AVP Infracon IPO. Share India Securities is the market maker.
AVP Infracon IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹75 with no premium or discount in the grey market according to investorgain.com.
Based on the activities of the grey market over the last 15 days, the IPO GMP today is down and is predicted to drop much lower. Analysts at investorgain.com estimate that the GMP is between ₹0 and ₹30, with ₹0 being the lowest.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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