H.M. Electro Mech IPO Day 3: Latest GMP, subscription status, listing date & other details about SME IPO
The IPO of H.M. Electro Mech, which focuses on infrastructure projects, opened on January 24 and was fully subscribed on the first day itself. The firm plans to raise ₹27.74 crore for operational costs through the issue.
H.M. Electro Mech IPO: The IPO of H.M. Electro Mech, which opened for bidding on Friday, January 24, saw healthy investor interest, with the issue being fully subscribed on Day 1 itself.
At the end of the third day, H.M. Electro Mech IPO was subscribed 91.75 times. Retail investors showed strong interest, with their portion fully subscribed at 95.55 times, while the non-institutional investor (NII) category was subscribed 183.65 times. Meanwhile, the qualified institutional buyer (QIB) segment was booked 16.01 times.
The company plans to utilise the funds raised through this issue to meet working capital requirements and for general corporate purposes.
H.M. Electro Mech issue details
1. H.M. Electro Mech IPO date: The issue opened for subscription on Friday, January 24, and concluded on Tuesday, January 28.
2. H.M. Electro Mech IPO Price: The price band of the public issue has been fixed at ₹71 to ₹75 per equity share.
3. H.M. Electro Mech IPO Size: The company aims to raise ₹27.74 crore through the IPO, which is a fresh issue of 36.99 lakh shares.
4. H.M. Electro Mech IPO Lot Size: The IPO lot size is fixed at 1600 shares, requiring a minimum investment of ₹1,20,000 for retail investors.
5. H.M. Electro Mech IPO reservation: The IPO offers 7 lakh shares to qualified institutional buyers, 5.28 lakh shares to non-institutional buyers, and 12.3 lakh shares to retail investors.
6. H.M. Electro Mech IPO allotment date: The IPO allotment date is set for Wednesday, January 29. Investors who receive an allotment will see the shares in their demat accounts by Thursday, January 30, while those who do not will have their refunds processed on the same day.
7. H.M. Electro Mechc IPO listing: The SME IPO is proposed to list on the BSE SME on Friday, January 31.
8. H.M. Electro Mech IPO GMP: According to market sources, the GMP of H.M. Electro Mech IPO on Friday was ₹24, suggesting that the stock may list ₹24 above the issue price of 75, which is at ₹99.
9. H.M. Electro Mech IPO book-running lead manager and registrar: Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the H.M. Electro Mech IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for H.M. Electro Mech IPO is Spread X Securities Private Limited.
10. H.M. Electro Mech business overview: The company is an infrastructure firm specialising in turnkey projects, including supply, installation, testing, and commissioning of pumping machinery and providing comprehensive operation and maintenance services. The company's core business includes electrification projects with Indian Railways, banks, and municipal corporations.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
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