C P S Shapers IPO: Check GMP, subscription status on day 1, other key details to know

C P S Shapers IPO: C P S Shapers IPO has opened for subscription today (Tuesday, August 29), and will close on Thursday, August 31. C P S Shapers SME IPO price band has been fixed at range of ₹185 per equity share of face value of ₹10 each. Bids can be made for a minimum of 600 equity shares and in multiples of 600 equity shares thereafter. C P S Shapers SME IPO's issue price is 18.5 times of the face value of the equity shares, according to Red herring prospectus (RHP).

C P S Shapers IPO consists of fresh issue of 6,00,000 equity shares aggregating to ₹11.10 crore. There's no offer for sale (OFS) component. According to the company's Red Herring Prospectus (RHP), they plan to use the gross proceeds to upgrade their existing IT software at their existing manufacturing facility and registered office, buy plant and machinery for their existing manufacturing facility, buy a commercial vehicle, fund capital expenditures for the purchase of a solar power system by our company, and repay or prepay, in full or in part, borrowings that their company has accessed.

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C P S Shapers IPO's basis of allotment of shares will be finalised on Tuesday, September 5 and the company will initiate refunds on Wednesday, September 6, while the shares will be credited to the demat account of allottees on Thursday, September 7. C P S Shapers share price is likely to be listed on NSE SME on Friday, September 8.

C P S Shapers SME IPO's lead manager is Shreni Shares Ltd, and the registrar is Bigshare Services Private Ltd.

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C P S Shapers IPO Subscription Status

C P S Shapers IPO subscription status was 16.64 times on day 1. The issue received positive response from retail investors who's portion set was subscribed 28.31 times, and non-institutional buyers who's portion set was subscribed 4.95 times, according to data on chittorgarh.com.

The company has received bids for 94,67,400 shares against 600,000 shares on offer, according to data on chittorgarh.com.

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C P S Shapers IPO GMP today

C P S Shapers IPO GMP today or or grey market premium on Tuesday was +70 lower than the previous trading session. This indicates C P S Shapers share price were trading at a premium of ₹70 in the grey market on Tuesday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of C P S Shapers share price is ₹255 apiece, which is 37.84% higher than the IPO price of ₹185.

On Monday, C P S Shapers IPO GMP was ₹90. According to topsharebrokers.com, today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹42, while the highest GMP is ₹90.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

C P S Shapers IPO apply or not?

“C P S Shapers has performed well for the reported periods. It is operating in a highly competitive and fragmented segment. Based on FY23 earnings, the issue appears reasonably priced. The small equity post-IPO indicates a longer gestation period for migration to the mainboard. Well-informed investors may park funds for long-term rewards,” said Dilip Davda, the contributing editor at Chittorgarh.com.

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