Owais Metal and Mineral Processing Limited share price makes a stellar debut, stock opens with 187% premium at ₹250
- Owais Metal share price opens at ₹250, which is 187.36% higher than the issue price of ₹87. Owais Metal share price were trading at a premium of ₹100 in the grey market.
Owais Metal and Mineral Processing Limited share price made a stellar debut on NSE SME today. On NSE SME, Owais Metal share price opened at ₹250, which is 187.36% higher than the issue price of ₹87.
Owais Metal and Mineral Processing IPO opened for subscription on Monday, February 26, and closed on Wednesday, February 28.
Owais Metal and Mineral Processing IPO price band was set in the range of ₹83 to ₹87 apiece. Owais Metal and Mineral Processing IPO lot size consisted of 1,600 shares. Investors could bid for a minimum of 1,600 shares and in multiples thereof.
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Metals and minerals are produced and processed by Owais Metal and Mineral Processing Limited. The promoter Saiyyed Owais Ali operated the company as a sole proprietorship under the name M/s Owais Ali Overseas prior to the company's formation.
The following goods are produced and processed by the company: manganese oxide (MNO), MC Ferro Manganese, manufacture of charcoal, and processing of minerals such manganese ore, quartz, and ferroalloys. The states of Madhya Pradesh, Maharashtra, Punjab, Delhi, and Gujarat are among those to whom the firm sells its goods.
Owais Metal and Mineral IPO details
Owais Metal and Mineral Processing IPO, which is worth ₹42.69 crore, comprises a fresh issue of 4,907,200 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.
The net proceeds from the fresh issuance will be used by the firm for general corporate purposes, working capital needs, and the purchase of equipment to facilitate manufacturing, among other things.
The Owais Metal and Mineral Processing IPO's book running lead manager is Gretex Corporate Services Limited, while the issue's registrar is Bigshare Services Pvt Ltd. Gretex Share Broking is the market maker of the Owais Metal and Mineral Processing IPO.
Owais Metal IPO GMP today
Owais Metal IPO GMP or grey market premium is +100. This indicates Owais Metal share price were trading at a premium of ₹100 in the grey market, according to www.investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Owais Metal share price is ₹187 apiece, which is 114.94% higher than the IPO price of ₹87.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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