Rudra Gas Enterprise share price makes a bumper debut, stock lists with 90% premium at ₹119.70 apiece on BSE SME

Rudra Gas Enterprise share price made a bumper debut on BSE SME today. On BSE SME, Rudra Gas Enterprise share price was listed at ₹119.70, which is 90% higher than the issue price of ₹63.

Rudra Gas Enterprise IPO opened for subscription on Thursday, February 08, and closed on Monday, February 12. Rudra Gas Enterprise IPO price band was set at ₹63 apiece. Rudra Gas Enterprise IPO lot size consisted of 2,000 shares. Investors could bid for a minimum of 2,000 shares and in multiples thereof. The issue price was 6.3 times the face value of ₹10.

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Rudra Gas Enterprise IPO subscription status was 350.75 times on day 3. The issue was subscribed 71.51 times on day 2, and 18.87 times on day 1. 

Also Read: Rudra Gas Enterprise IPO allotment finalised: Latest GMP, how to check allotment status

Rudra Gas Enterprise IPO details

Rudra Gas Enterprise IPO comprises a fresh issue of 22,48,000 equity shares aggregating to ₹14.16 crore. This is a completely a fresh issue, and there is no offer-for-sale component.

The proceeds from the fresh issue will be used for the following goals in order to meet the company's general objectives and working capital needs.

The Rudra Gas Enterprise IPO's book running lead manager is Beeline Capital Advisors Pvt Ltd, and the registrar is Link Intime India Private Ltd. Spread X Securities is the market maker for the Rudra Gas Enterprise IPO.

Also Read: Rudra Gas Enterprise IPO announces price band at ₹63 apiece; check issue details, key dates, more

Rudra Gas Enterprise IPO GMP today

Rudra Gas Enterprise IPO GMP or grey market premium is +57. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rudra Gas Enterprise share price was indicated at ₹120 apiece, which is 90.48% higher than the IPO price of ₹63.

Based on last 11 sessions grey market activities, today IPO GMP points upward and expects a strong listing. The lowest GMP is ₹20, while the highest GMP is ₹57. according to investorgain.com analysts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Rudra Gas Enterprise IPO: Issue oversubscribed on day 2 led by retail investors; GMP rises

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