Crop Life Science IPO: What does the latest GMP signal ahead of listing; check key details
Crop Life Science Limited IPO to be listed on NSE SME tomorrow, with a grey market premium of -7. Estimated listing price is ₹45.
Crop Life Science Limited IPO: Crop Life Science IPO listing date has been fixed for tomorrow i.e. Wednesday, August 30 on NSE SME.
Crop Life Science IPO subscription opened on Friday, August 18, and closed on Tuesday, August 22.
Crop Life Science IPO subscription status was 4.36 times on day 3. The issue received positive response from retail investors who's portion set was subscribed 7.15 times, and non-institutional buyers who's portion set was subscribed 1.56 times, according to data on chittorgarh.com. Crop Life Science IPO subscription status was 84% on day 1, and the issue was subscribed 2.36 times on day 2.
Crop Life Science IPO share allotment was finalised on Friday, August 25. The initiation of the refund process was scheduled on Monday, August 28, for individuals not given shares. Those allotted will receive their shares in their demat accounts today (Tuesday, August 29).
Let's check what does Crop Life Science IPO GMP today signal ahead of listing.
Crop Life Science IPO GMP Today
Crop Life Science Limited IPO GMP today or grey market premium is -7. This indicates that the shares of Crop Life Science IPO GMP were trading at a discount of ₹7 in the grey market on Tuesday, according to topsharebrokers.com.
Considering the upper end of the Crop Life Science price band and the current premium in the grey market, the estimated listing price of Crop Life Science Ltd share price is ₹45 apiece, which is 13.46% lower than the Crop Life Science Ltd share of ₹52.
In the last nine trading sessions, Crop Life Science Ltd shares were trading at discount in the grey market.
The lowest GMP is recorded at ₹-7 while the highest GMP is ₹7. According to topssharebrokers.com, today's IPO GMP trend indicates discount and expects a discount listing.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Crop Life Science IPO Details
Crop Life Science IPO price band has been fixed at ₹52 per equity share of face value of ₹10 each. The minimum lot size of this Crop Life Science IPO is 2000 shares. Crop Life Science IPO issue price is 5.2 times the face value of the equity share.
Crop Life Science IPO consists of fresh issue of 51.40 lakh equity shares aggregating to ₹26.73 crore. There is no offer for sale (OFS) component.
According to company's Red Herring Prospectus (RHP) it intends to use the net proceeds raised through the issue to repay debt, meet long-term working capital requirements, and general corporate purposes.
Crop Life Science IPO's lead manager is Interactive Financial Services Ltd, and the registrar is Purva Sharegistry Pvt Ltd.
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