Micropro Software Solutions IPO Day 3: Issue subscribed over 36 times so far; check latest GMP, other key things to know

Micropro Software Solutions IPO: The initial public offering (IPO) of Micropro Software Solutions Ltd, the IT services company, has received strong response from investors so far. Micropro Software Solutions IPO is an SME IPO and a fixed price issue that opened for subscription on November 3.

Micropro Software Solutions is an IT service company and provides Software Development, Data Processing, Software Training and other Software Solutions. Micropro IPO saw strong investors’ interest as the public offer was fully subscribed on the first day itself. 

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Let's take a look at Micropro Software Solutions IPO GMP today, subscription status and other key details:

Micropro Software Solutions IPO Subscription Status

Micropro Software Solutions IPO has been subscribed 36.13 times so far on Tuesday, the third day of the bidding process. The issue received bids for over 13,00,59,200 equity shares as against 36 lakh shares on the offer, as per data available till 4:00 pm, on chittorgarh.com

The public issue has been subscribed 47.63 times in the retail category and 22.55 times in the Non-Institutional Investors' (NII) category so far.

On day 1, Micropro Software Solutions IPO subscription status was subscribed 2.04 times, and on day 2, the issue was subscribed 10.18 times.

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Micropro Software Solutions IPO GMP Today

Micropro Software Solutions IPO GMP today, or grey market premium today, has dropped to ₹20 per share, as per market observers. This indicates that the Micropro Software Solutions shares are trading higher by ₹20 apiece in the grey market than its issue price of ₹81.

Micropro Software Solutions IPO Details

Micropro Software Solutions IPO opened for subscription on Friday, November 3, and will close on Tuesday, November 7. The IPO allotment is likely to be finalised on November 10 and initiation of refunds may take place on November 13.

Micropro Software Solutions shares will be listed on NSE SME with a tentative listing date fixed on November 16, 2023.

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The total issue size of Micropro Software Solutions IPO is ₹30.70 crore which is entirely a fresh issue of 37.9 lakh equity shares.

Micropro IPO price band is fixed at ₹81 per share. The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹129,600. 

Swaraj Shares and Securities Private Limited is the book running lead manager of the Micropro Software Solutions IPO, while Purva Sharegistry India Pvt Ltd is the IPO registrar.

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