On Door Concepts IPO: Check GMP, subscription status on day 4, other key details

On Door Concepts Limited IPO opened for subscription on Monday, October 23, and will close on Friday, October 27. On Door Concepts IPO's price band is set at ₹208. Investors can bid for a minimum of 600 shares and in multiples thereof.

The face value of the equity shares is ₹10 each and the issue price is ₹20.8 times of the face value.

Ondoor Concepts, an e-commerce website, offers groceries and household necessities. The company set up business in Bhopal, Madhya Pradesh, in January 2015. The company had established 55 outlets as of March 31, 2023, with 17 of those being owned and operated by it in various Madhya Pradesh cities. 38 locations are operated under the franchisee model.

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The company's promoters are NSB BPO Solutions Private Limited, Pramod Ramdas Ingle, Narendra Singh Bapna, Vaishali Ingle, and Swati Bapna.

The shareholding pattern of the promoters and promoter group before the issue is 51.92%and after the issue is set at 38.14%.

On Door Concepts Ltd IPO details

On Door Concepts IPO, which is worth ₹31.18 crore, is completely a fresh issue of 1,498,800 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company conducted a Pre-IPO Placement of 2,85,200 equity shares at the issue price of ₹259 per share in consultation with the issue's lead manager.

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The proceeds from the new issue will be used by the company for the following purposes: general corporate purpose and augmenting extra working capital requirements.

The registrar of the On Door Concepts IPO is Bigshare Services Pvt Ltd, while the book running lead manager is First Overseas Capital Limited. Bhh Securities is acting as the market maker for On Door Concepts'IPO.

In the fiscal year ending March 31, 2022, and March 31, 2023, On Door Concepts Limited's revenue climbed by 3.93% while its profit after tax (PAT) decreased by 343.25%, as per reports.

The company engaged in retail sector, hence it has selected Osia Hyper Retail Limited from the same sector.

Also Read: On Door Concepts IPO opens next week, price band set at ₹208 per share. Check GMP, other key details

On Door Concepts subscription status

On Door Concepts Limited IPO subscription status was 4.40 times on day 4, so far. The issue received positive response from retail investors who's portion set was subscribed 6.55 times, and tepid response from non-institutional buyers who's portion set was subscribed 2.09 times, according to data on chittorgarh.com.

The company has received bids for 62,17,200 shares against 14,12,400 shares on offer, at 13:39 IST, according to data on chittorgarh.com.

On Door Concepts Limited IPO subscription status was 96% on day 1, and the issue was subscribed 2.78 times on day 2. On Door Concepts Limited IPO subscription status was 3.61 times on day 3. 

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On Door Concepts Limited IPO GMP today

On Door Concepts Limited IPO GMP today or grey market premium is +10. This indicates On Door Concepts share price were trading at a premium of ₹10 in the grey market on Friday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Door Concepts share price was indicated at ₹218 apiece, which is 4.81% higher than the IPO price of ₹208.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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