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Business News/ Markets / Ipo/  Ramdevbaba Solvent shares list with over 31% premium at 112 apiece on NSE SME
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Ramdevbaba Solvent shares list with over 31% premium at ₹112 apiece on NSE SME

Ramdevbaba Solvent IPO listing was better than market expectations as the Ramdevbaba Solvent IPO GMP today, or grey market premium today, was 10% ahead of the listing, as per stock market observers.

Ramdevbaba Solvent share price began trading at ₹112 apiece on the NSE SME as against its issue price of ₹85 per share, a 31.76% premium. (Image: iStock)Premium
Ramdevbaba Solvent share price began trading at 112 apiece on the NSE SME as against its issue price of 85 per share, a 31.76% premium. (Image: iStock)

Ramdevbaba Solvent IPO Listing: Ramdevbaba Solvent shares made a decent stock market debut on Tuesday as the stock was listed with a premium of over 31%. Ramdevbaba Solvent share price began trading at 112 apiece on the NSE SME as against its issue price of 85 per share, a 31.76% premium.

Ramdevbaba Solvent IPO listing was better than market expectations as the Ramdevbaba Solvent IPO GMP today, or grey market premium today, was 10% ahead of the listing, as per stock market observers.

The initial public offering (IPO) of Ramdevbaba Solvent Limited commenced for subscription on April 15 and concluded on April 18. 

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Ramdevbaba Solvent IPO allotment was finalized on April 19 and the IPO listing date was fixed as on April 23.

Ramdevbaba Solvent IPO price band is 80 to 85 per share. The company raised 50.27 crore at the upper end of the price band. The IPO was entirely a fresh issue of 59.14 lakh equity shares.

Choice Capital Advisors Pvt Ltd is the book-running lead manager of the Ramdevbaba Solvent IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

Ramdevbaba Solvent IPO was an SME IPO and saw a decent subscription as the IPO was subscribed 126.21 times in total. 

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The public issue was subscribed 79.96 times in the retail category, 65.95 times in the Qualified Institutional Buyers (QIB) category, and 314.46 times in the Non-Institutional Investors (NII) category.

Ramdevbaba Solvent Ltd is engaged in the business of manufacturing, distribution, marketing and sale of rice bran oil to FMCG companies. Prashant Bhaiya, Nilesh Mohata, and Tushar Mohata are the promoters of the company.

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Published: 23 Apr 2024, 10:00 AM IST
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