Hi-Green Carbon IPO Day 3: Issue subscribed by a robust 168.92 times on last day; retail portion booked 196.35x

Hi-Green Carbon IPO: The initial public offering (IPO) of waste tyres recycling company Hi-Green Carbon Ltd ends today, on September 25. The IPO has received stellar response so far.

Hi-Green Carbon Ltd specializes in processing waste hydrocarbons to produce valuable products like rCB (Recovered Carbon Black).

Hi-Green Carbon IPO is an SME IPO and will close for subscription today, September 25.

Let us check Hi-Green Carbon IPO latest GMP, subscription status and other key details:

Hi-Green Carbon IPO Subscription Status

Hi-Green Carbon IPO has been subscribed by a robust 168.92 times on Monday, the third and the last day of the bidding process. The public issue received bids for 78,27,00,800 equity shares as against 7,038,400 shares on the offer, according to chittorgarh.com

The IPO has been subscribed 196.35 times in the retail category, 69.95 times in Qualified Institutional Buyers’ (QIB) category, and 236.76 times in the Non-Institutional Investors’ (NII) category.

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Hi-Green Carbon IPO GMP Today

Hi-Green Carbon IPO GMP today, or grey market premium today, is ₹60 per share, as per market observers. The latest GMP indicates that the Hi-Green Carbon shares are trading at a premium of ₹60 apiece in the grey market.

Considering the Hi-Green Carbon IPO GMP today and the issue price, Hi-Green Carbon shares’ estimated listing price would be ₹135 apiece, which is 80% premium to the issue price.

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Hi-Green Carbon IPO Details

Hi-Green Carbon IPO opened for subscription on September 21, and will close today. The company is likely to finalise the basis of allotment on September 28 and initiate refunds on September 29, while credit the shares in the demat accounts of eligible allottees on October 3.

Hi-Green Carbon shares are proposed to be listed at NSE SME on October 4.

The total IPO size is ₹52.80 crore which comprises a fresh issue of 59.9 lakh equity shares aggregating to ₹44.93 crore and an offer for sale (OFS) of 10.5 lakh shares aggregating to ₹7.88 crore.

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Hi-Green Carbon IPO price band is fixed at ₹71 to ₹75 per share. The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹120,000.

The book running lead manager for the Hi-Green Carbon IPO is Beeline Capital Advisors Pvt Ltd, while Link Intime India Private Ltd is the IPO registrar.