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Business News/ Markets / Ipo/  Owais Metal and Mineral Processing Limited share price makes a stellar debut, stock opens with 187% premium at 250
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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 Ltd share price lists on the bourses today. (https://ommpl.com/)Premium
Owais Metal and Mineral Processing Ltd share price lists on the bourses today. (https://ommpl.com/)

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.

Also Read: Owais Metal and Mineral Processing IPO allotment finalised; GMP, steps to check Owais Metal IPO allotment status

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.

Also Read: Owais Metal and Mineral IPO: GMP rises, subscription status on Day-3, issue details, all you need to know

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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.

Also Read: Owais Metal and Mineral Processing IPO: Check date, price band, and other key details

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.

Also Read: Owais Metal and Mineral IPO: GMP, subscription status, issue details, all you need to know

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.

Also Read: Owais Metal and Mineral IPO: GMP rises, subscription status on Day-3, issue details, all you need to know

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 04 Mar 2024, 10:00 AM IST
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