Oriana Power IPO: Latest GMP, subscription status on day 3, and key other details
Oriana Power IPO subscribed 176.58 times; estimated listing price at ₹221 apiece, 87.29% higher than IPO price.
Oriana Power Ltd initial public offering (IPO) opened for subscription on Tuesday, August 1, and will close today, (Thursday, August 3). Oriana Power IPO price band has been set at ₹115 to ₹118 per equity share for the proposed SME initial public offer.
Oriana Power IPO lot size consists of 1200 equity shares and the multiples of 1200 equity shares thereafter.
Oriana Power IPO is made up of a completely fresh equity offering of up to 50.5 lakh equity shares totalling up to ₹59.6 crore. The company plans to utilise the net proceeds to meet its working capital requirements which includes daily operating expenses, secondly the company aims to use the funds as investment in subsidiary, and for other capital expenditures that includes investment in technology, equipment, and infrastructure purposes.
For the fiscal year that ended in March 2023, the company reported total revenue of ₹137.31 crore, up 9.87% from ₹124.97 crore in the comparable prior-year period. The consolidated profit after tax jumped by 57.49% to ₹10.93 crore from ₹6.94 crore.
The basis of allotment of shares will be finalised on Tuesday, August 8 and the company will initiate refunds on Wednesday, August 9, while the shares will be credited to the demat account of allottees on Thursday, August 10. Oriana Power IPO shares are likely to be listed on NSE SME on Friday, August 11.
Oriana Power IPO's book running lead manager (BRLM) to the issue is Corporate Capital ventures Private Ltd and registrar to the issue is Skyline Financial Services Private Ltd.
Oriana Power IPO subscription status
Oriana Power Ltd was subscribed 176.58 times on day 3. The public offer saw huge demand from non-institutional buyers who subscribed to the issue 251.74 times, followed by retail investors who subscribed 204.04 times, and Qualified Institutions buyers subscribed 72.16 times to the issue.
The company has received bids for 59,33,02,800 shares against 5,055,600 shares on offer, according to data on chittorgarh.com.
On day 2, Oriana Power IPO subscription status 40.58 times. The public offer saw huge demand from retail investors who subscribed to the issue 68.76 times, followed by non-institutional buyers who subscribed 23.88 times, and Qualified Institutions buyers subscribed 3.78 times to the issue.
On day 1, Oriana Power IPO subscription status was 13.45 times. The issue received positive response from retail investors who's portion set was subscribed 23.30 times, followed by non-institutional buyers who's portion set was subscribed 8.16 times, and Qualified Institutions buyers portion was subscribed 21%, according to data on chittorgarh.com.
Oriana Power IPO GMP today
Oriana Power IPO GMP or grey market premium is +103, same as previous trading session. This indicates that the shares of Oriana Power share price were trading at a premium of ₹103 in the grey market on Thursday, according to topsharebrokers.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Oriana Power share price is ₹221 apiece, which is 87.29% higher than the IPO price.
According to analysts of topsharebrokers.com, trend indicates downside and expects a listing price to slide further or remain on the lower side. In the last 10 sessions, the lowest GMP is recorded at ₹95 while the highest GMP is ₹104.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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