Biopol Chemicals IPO Day 3: Issue subscribed 18.77x so far. Check GMP, price band, other key details

Biopol Chemicals IPO, which opened for subscription on Friday, February 6, has garnered strong investor interest. The offer closes for bidding on Tuesday, February 10.

Biopol Chemicals is engaged in the trading, manufacturing, and distribution of speciality chemicals across segments such as silicones, emulsifiers, biochemicals, and polyelectrolytes.

Biopol Chemicals IPO subscription status

By 3:40 pm on Tuesday, Biopol Chemicals IPO was subscribed 18.77 times, as per data available on NSE. The SME IPO has received 5,43,33,600 bids as against 28,94,400 shares on offer as of the third day of subscription.

The Non-Institutional Investors category received bids for 2,59,16,400 shares; meanwhile, the individual investors portion garnered 1,72,03,200 bids. QIB section remained unsusbcribed on the last day of bidding at the time of writing this report.

Biopol Chemicals IPO GMP today

The shares of Biopol Chemicals are trading at a premium of ₹3 in the grey market, as per websites tracking the grey market. This means that the GMP of Biopol Chemicals IPO is +3.

The estimated listing price of Biopol Chemicals IPO is likely to be ₹111, which is 2.78% higher than the offer price of ₹108.

Biopol Chemicals IPO details

Biopol Chemicals IPO price band for the issue has been set at ₹102– ₹108 per share.

The NSE SME IPO is a book-built issue comprising 28,94,400 equity shares, with no offer-for-sale (OFS) component.

As per the Red Herring Prospectus (RHP), the company intends to utilise the net proceeds towards the purchase of industrial land, repayment or prepayment of certain outstanding borrowings, and for general corporate purposes.

The basis of allotment is likely to be finalised on Wednesday, February 11. Successful applicants can expect the shares to be credited to their demat accounts on Thursday, February 12, while refunds for unsuccessful bidders are also expected to be processed on the same day. The listing could take place on Friday, February 13.

Smart Horizon Capital Advisors Private Limited is acting as the book-running lead manager, while Bigshare Services Private Limited has been appointed as the registrar to the Biopol Chemicals IPO.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.