Business News/ Markets / Ipo/  Remus Pharma IPO: Issue date, GMP, subscription status, other details to know about the issue

Remus Pharmaceuticals IPO, which opened for subscription on May 17, received strong response from retail investors. The public offer will close on May 19. 

Remus Pharmaceuticals IPO was subscribed 0.87 times, as of 4:10 pm. The retail category of the public issue was subscribed 2.18 times, while the Non-Institutional Investors (NII) category was subscribed 0.72 times. The Qualified Institutional Buyers (QIB) were yet to bid for the issue.

The total issue size of Remus Pharmaceuticals IPO is 47.69 crore, which comprises a fresh issue of 3,88,000 shares of 10 each. The price band for the public issue is 1,150 - 1,229 per share.

Investors can make a minimum application for 100 shares and in multiples thereof. The shares of Remus Pharmaceuticals will be listed on NSE SME Emerge platform.

Also Read: Crayons Advertising fixes price band ahead of SME IPO on May 22; 10 key points here

The company will fix the basis of allotment of shares on May 24 and the shares will be credited to investors’ demat account on May 26. Remus Pharmaceuticals shares will be listed on May 29.

Remus Pharmaceuticals is engaged in the business of marketing and distributing finished formulations of pharmaceutical drugs. The company proposes to utilise the proceeds from the fresh issue to meet working capital requirements, fund investments for acquisitions and general corporate purposes.

Remus Pharma IPO GMP today:

Remus Pharma IPO grey market premium (GMP) on Wednesday was 70. This means that the Remus Pharmaceuticals shares are trading 70 higher than their IPO price in the grey market, which is an unofficial market.

Remus Pharma IPO GMP has fallen from 100 on May 16 and May 15. As per the latest GMP, investors can expect Remus Pharma shares to list at 1,299 apiece (1,229 + 70), considering the higher price band.

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Updated: 17 May 2023, 04:37 PM IST
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