Shanti Spintex IPO Day 3: Issue subscribed over 8 times so far on last day; retail portion booked over 11x
- Shanti Spintex IPO price band is set at ₹66 to ₹70 per share. The lot size is 2000 shares and the minimum amount of investment required by retail investors is ₹140,000.
Shanti Spintex IPO: Denim fabrics manufacturer Shanti Spintex Ltd launched its initial public offering (IPO) on December 19. Shanti Spintex IPO is an SME IPO and a book built issue that will close today, on December 21.
The IPO has received strong buying interest from investors as it has been oversubscribed on the last of the bidding.
Shanti Spintex IPO allotment is expected to be finalized on December 22, 2023 and the shares will list on BSE SME with a tentative listing date fixed on December 27.
Let us check Shanti Spintex IPO subscription status, GMP today and other key details.
Shanti Spintex IPO Subscription Status
Shanti Spintex IPO has been subscribed 8.78 times so far on December 21, the third and the last day of the bidding process. The public issue received bids for 2.60 crore equity shares as against 29.68 lakh shares on the offer, as per data available till 12:45 pm.
The IPO received 11.50 times subscription in the retail category, and 8.16 times in the Non-Institutional Investors (NII) category so far. The Qualified Institutional Buyer's (QIB) portion was booked 4.49 times.
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Shanti Spintex IPO Details
The ₹31.25 crore worth Shanti Spintex IPO opened for public subscription on December 19 and will conclude today on December 21. The IPO comprises a fresh issue of 26.88 lakh equity shares aggregating to ₹18.82 crore and an offer for sale (OFS) of 17.76 lakh shares aggregating to ₹12.43 crore.
Shanti Spintex IPO price band is set at ₹66 to ₹70 per share. The lot size is 2,000 shares and the minimum amount of investment required by retail investors is ₹140,000.
The book running lead manager of the Shanti Spintex IPO is Hem Securities, while Kfin Technologies is the IPO registrar.
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Shanti Spintex IPO GMP Today
Shanti Spintex IPO GMP today, or grey market premium today, is ₹7 per share, as per market observers. This indicates that the Shanti Spintex shares are trading higher by ₹7 in the grey market than their IPO price.
Considering the GMP today and the issue price, Shanti Spintex shares are estimated to be listed at ₹77 apiece, which is at 10% premium to the IPO price of ₹70 per share.
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