BackCanarys Automations IPO: Price band, GMP, subscription status on day 2, other key details of SME issue
Canarys Automations IPO price band is ₹29 to ₹31 per share. The IPO lot size is 4,000 shares and the minimum investment amount required by retail investors is ₹124,000
PremiumCanarys Automations IPO: IT solutions provider Canarys Automations launched its initial public offering (IPO) on Wednesday, September 27. The company plans to raise ₹47.03 crore from the share sale that will close on October 3.
Canarys Automations is an IT solutions provider in the digitalization, modernization, Automation, and intelligence space.
The company has two business verticals: Technology solutions and Water Resource Management Solution.
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Let us delve deeper into the Canarys Automations IPO details, subscription status and GMP today:
Canarys Automations IPO Details
Canarys Automations IPO opened for public subscription on September 27 and will remain open till October 3.
The basis of IPO allotment is expected to be finalized on October 6, 2023, and the company may initiate refunds on October 9, while credit the shares to allottees on October 10.
Canarys Automations shares will list on NSE SME with a tentative listing date of October 11, 2023.
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Canarys Automations IPO issue size is ₹47.03 crore which is entirely a fresh issue of 1.51 crore shares.
Canarys Automations IPO price band is ₹29 to ₹31 per share. The IPO lot size is 4,000 shares and the minimum investment amount required by retail investors is ₹124,000
The book running lead manager of the Canarys Automations IPO is Indorient Financial Services Ltd, while Link Intime India Pvt Ltd is the IPO registrar for the issue.
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Canarys Automations IPO Subscription Status
Canarys Automations IPO has been subscribed 45% on day 2. The public issue subscribed 85% in the retail category and 18% in the Non-Institutional Investors' (NII) category.
Canarys Automations IPO has been subscribed 30% on day 1.
Canarys Automations IPO GMP Today
Canarys Automations IPO GMP today, or or grey market premium is +5 marginally lower than the previous trading session, which was +6. This indicates that the shares of Canarys Automations IPO GMP today were trading at a premium of ₹5 in the grey market on Thursday, according to investorgain.com
Considering the upper end of the Canarys Automations IPO price band and the current premium in the grey market, the estimated listing price of Canarys Automations share price was ₹36 apiece, which is 16.13% higher than the issue price of ₹31.
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