Inspire Films IPO Day 2: Issue subscribed over 34 times; retail portion booked 55.71x

Inspire Films IPO: The initial public offering (IPO) of Inspire Films Ltd, the television content company, is witnessing strong demand from investors. The Inspire Films IPO, which opened for subscription on September 25, will close on September 27. 

Inspire Films Ltd is engaged in the business of creation, production, distribution and exhibition of television and digital content.

Inspire Films IPO is an SME IPO and a book-built issue which will remain open till September 27.

Let us check Inspire Films IPO dates, GMP, subscription status and other key details.

Inspire Films IPO: Key things to know

Inspire Films IPO Dates: Inspire Films IPO opened for subscription on Monday, September 25 and will close on Wednesday, September 27.

Inspire Films IPO Allotment: The company is likely to finalise the basis of IPO allotment on October 3 and initiate refunds on October 4, while credit the shares into the demat accounts of eligible investors on October 5.

Inspire Films IPO Listing Date: Inspire Films shares are proposed to be listed at NSE SME with a tentative listing on October 6.

Inspire Films IPO Price Band: Inspire Films IPO price band has been fixed at ₹56 to ₹59 per share.

Also Read: JSW Infrastructure IPO: Issue fully booked on day 2; retail portion subscribed over 3 times so far

Inspire Films IPO Details: Inspire Films IPO is entirely a fresh issue of 35.98 lakh equity shares. At the upper end of the price band, the company plans to raise ₹21.23 crore from the issue.

Inspire Films IPO Lot Size: The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹118,000.

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Inspire Films IPO Anchor Book: The company has already raised ₹6.03 crore by allocating 10.22 lakh shares to anchor investors on September 22 ahead of the IPO opening. 

Inspire Films IPO Reservation: A total of 18.97% shares in the Inspire Films IPO are reserved for Qualified Institutional Buyers (QIB), 33.31% for Retail Investors and 14.29% for Non-Institutional Investors (NII).

Inspire Films IPO Manager, Registrar: The book running lead manager of the Inspire Films IPO is Narnolia Financial Services Ltd, while IPO Registrar is Maashitla Securities Pvt Ltd. 

Also Read: Western Carriers gets SEBI nod to launch IPO

Inspire Films IPO Subscription Status

Inspire Films IPO has received strong investors’ interest as the issue has been subscribed 34.91 times on Tuesday, the second day of the bidding process. The issue received bids for 8,35,66,000 equity shares as against 35.96 lakh shares on the offer, according chittorgarh.com

The public issue was booked 55.71 times in the retail category and 23.34 times in the NII category, while the QIB portion saw 7.07 times subscription.

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Inspire Films IPO GMP Today

Inspire Films IPO GMP today, or grey market premium today dropped to ₹25 per share from ₹30 on Monday. This shows Inspire Films shares are trading higher by ₹25 that their issue price, in the grey market.

The GMP today indicates that the estimated Inspire Films listing price would be ₹84 per share ( ₹59 + ₹25), which is at a premium of 42.37% to the issue price.

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