Goyal Salt IPO: Issue subscribed over 33 times on day 2; retail portion booked 53.95x
- Goyal Salt IPO price band is fixed at ₹36 to ₹38 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹114,000.
Goyal Salt IPO: The initial public offering (IPO) of Goyal Salt Ltd, the producer and refiner of raw salts, opened for public subscription on September 26. Goyal Salt IPO is a book built issue and an SME IPO.
Goyal Salt Ltd is a Rajasthan-based refiner of raw salts procured from subsoil brine, used as industrial salts and edible salts.
The company also produces and supplies industrial salt for soap and detergent industries, chemical industries and textile and dyeing industries. It also supplies industrial salts to industries producing glass, plastics, rubber, polyester and leather.
Let us take a look at Goyal Salt IPO subscription status, GMP and other key details.
Goyal Salt IPO Subscription Status
Goyal Salt IPO has received stellar demand from investors as the public issue has been oversubscribed within hours of opening. Goyal Salt IPO has been subscribed 33.22 times in total on Wednesday, the second day of the bidding process. The public issue received bids for 10,79,43,000 equity shares as against 4,812,000 shares on the offer.
The public issue has been subscribed 53.95 times in the retail category and 26.75 times in the NII category. The QIB quota was booked 8%.
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Goyal Salt IPO GMP Today
Goyal Salt IPO GMP today, or grey market premium today, has risen to ₹25 per share from ₹20 per share on Tuesday, as per IPOWatch. The grey market suggests that Goyal Salt shares are trading higher by ₹25 than their issue price, in the grey market.
The GMP today indicates a premium of 65.78% to the issue price.
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Goyal Salt IPO Details
Goyal Salt IPO is a book built issue of ₹18.63 crores. The issue is entirely a fresh issue of 49.02 lakh shares.
Goyal Salt IPO opened for subscription on Tuesday, September 26, and will close on Friday, September 29.
The company is expected to finalise the basis of IPO allotment on October 5 and initiate refunds on October 6, while credit the shares to the demat accounts of eligible allottees on October 9.
Goyal Salt shares are proposed to be listed on NSE SME with a tentative listing date fixed on October 10.
Goyal Salt IPO price band is fixed at ₹36 to ₹38 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹114,000.
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The Goyal Salt IPO issue size is ₹18.63 crore which entirely comprises a fresh issue of 49.02 lakh shares. The face value of each Goyal Salt share is ₹10 apiece.
The company has already raised ₹5 crore from anchor investors on September 25, ahead of the IPO opening.
The book running lead manager of the Goyal Salt IPO is Holani Consultants Pvt Ltd, while Bigshare Services Pvt Ltd is the IPO registrar.
In the IPO, the company has reserved 50% of the offer for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII) and 35% of the offer for Retail Investors.
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