Active Stocks
Thu Apr 25 2024 13:08:02
  1. Kotak Mahindra Bank share price
  2. 1,645.00 -10.75%
  1. Tata Steel share price
  2. 165.20 -0.18%
  1. Axis Bank share price
  2. 1,127.55 6.00%
  1. State Bank Of India share price
  2. 793.80 2.66%
  1. ICICI Bank share price
  2. 1,111.15 1.30%
Business News/ Markets / Ipo/  Kalyani Cast Tech IPO Day 3: Issue subscribed over 195 times so far; check latest GMP, other key things to know
BackBack

Kalyani Cast Tech IPO Day 3: Issue subscribed over 195 times so far; check latest GMP, other key things to know

Kalyani Cast Tech IPO price band has been fixed at ₹137 to ₹139 per share. The public issue is entirely a fresh issue of 21.66 lakh shares and the company plans to raise ₹30.11 crore from the IPO at the upper end of the price band.

Kalyani Cast Tech IPO opened for subscription on Wednesday, November 8, and will close on Friday, November 10. Premium
Kalyani Cast Tech IPO opened for subscription on Wednesday, November 8, and will close on Friday, November 10.

Kalyani Cast Tech IPO: The initial public offering (IPO) of cargo containers manufacturer Kalyani Cast Tech has received stellar response from investors so far. Kalyani Cast Tech IPO, that opened for subscription on November 8 is an SME IPO and will close today on November 10.

The casting company aims to raise 30.11 crore from the public offer. 

The company manufactures a wide product range of castings, including finished components and is a specialist in various types of cargo containers. The company has a diverse client base including Indian Railways, Mining industry, cement industry, chemical and fertilizer plants and power industries. 

Also Read: Protean eGov Technologies Limited IPO allotment declared. GMP, listing date, allotment status online

Let us take a look at Kalyani Cast Tech IPO subscription status, latest GMP and other key things to know:

Kalyani Cast Tech IPO Subscription Status

Kalyani Cast Tech IPO has been subscribed 195.66 times so far on Friday, the third and the last day of the bidding process. The public issue received bids for 24.73 crore equity shares as against 12.64 lakh shares on the offer, as per data available till 3:35 pm.

The public issue subscribed 171.94 times in the retail category, 66.32 times in Qualified Institutional Buyers' (QIB) category, while the Non-Institutional Investors’ (NII) portion was booked 423.26 times so far.

(Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!)

Kalyani Cast Tech IPO GMP Today

Kalyani Cast Tech IPO GMP today, or grey market premium today, has increased to 85 per share, as per market observers. This indicates that Kalyani Cast Tech shares are trading higher by 85 than their issue price, in the grey market.

Considering the GMP today and the IPO price, the shares of Kalyani Cast Tech are expected to list with a premium of more than 61% to the issue price at 189 per share on BSE SME.

Kalyani Cast Tech IPO Details

Kalyani Cast Tech IPO opened for subscription on Wednesday, November 8, and will close on Friday, November 10. The company is expected to finalise the basis of IPO allotment on November 16.

Kalyani Cast Tech IPO price band has been fixed at 137 to 139 per share. The public issue is entirely a fresh issue of 21.66 lakh shares and the company plans to raise 30.11 crore from the IPO at the upper end of the price band.

Also Read: ASK Automotive IPO allotment to be out soon: Latest GMP, steps to check allotment status

The IPO lot size is 1,000 shares and the minimum investment amount required by retail investors is 139,000.

The company proposes to utilise the IPO proceeds for working capital requirements and general corporate purposes.

The equity shares of Kalyani Cast Tech will be listed on BSE SME with tentative listing date fixed on November 21.

Gretex Corporate Services is the book running lead manager of the Kalyani Cast Tech IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 08 Nov 2023, 12:05 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started