Piotex Industries IPO: Issue subscribed 44 times so far on last day; check latest GMP, other key details of SME IPO
- Piotex Industries IPO price band is fixed at ₹94 per share and the company intends to raise ₹14.47 crore from the IPO which is entirely a fresh issue of 15.4 lakh shares.
Piotex Industries IPO: The initial public offering (IPO) of Piotex Industries IPO has been seeing stellar demand from investors. Piotex Industries IPO opened for subscription on May 10 and closes today, May 14.
Piotex Industries is a contract manufacturing firm and trades in yarns, fabrics, and cotton bales for various purposes such as apparel and home textiles
The company plans to raise ₹14.47 crore from the primary market. Piotex Industries IPO is an SME IPO and a fixed price issue.
Let us check Piotex Industries IPO GMP, subscription status and other key details.
Piotex Industries IPO Subscription Status
Piotex Industries IPO has been subscribed 44.31 times so far on Tuesday, the third and the last day of the bidding process. The issue received bids for 6.47 crore equity shares as against 14.61 lakh shares offered, as per data available till 2:50 pm.
The IPO has been subscribed 53.93 times in the retail category and 30.59 times in the Non-Institutional Investors (NII) category so far.
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Piotex Industries IPO GMP
Piotex Industries IPO GMP today has risen to ₹30 per share, as per market observers. This indicates that Piotex Industries shares are trading at a premium of 31.91% at ₹124 apiece in the grey market as against its IPO price of ₹94 per share.
Piotex Industries IPO Details
The bidding for Piotex Industries IPO began on Friday, May 10 and concludes today, May 14. The IPO allotment is likely to be finalized on May 15 and the equity shares of Piotex Industries Ltd will list on BSE SME on May 17.
Piotex Industries IPO price band is fixed at ₹94 per share and the company intends to raise ₹14.47 crore from the IPO which is entirely a fresh issue of 15.4 lakh shares.
The IPO lot size is 1,200 shares and the minimum investment amount required by retail investors is ₹112,800.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Piotex Industries IPO, while Cameo Corporate Services is the IPO registrar.
The company proposes to use the net issue proceeds towards funding the working capital requirement and general corporate purpose.
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