Sharp Chucks And Machines IPO Day 4: Issue subscribed 54.20 times on last day; retail portion booked over 63x

Sharp Chucks And Machines IPO: The initial public offering (IPO) of Sharp Chucks And Machines Ltd, the manufacturer and exporter of machine tools, has received strong demand from investors.

The ₹16.84-crore Sharp Chucks and Machines IPO opened for subscription on September 29 and closes today, October 5.

Sharp Chucks And Machines manufactures and exports of power chucks, Lathe chucks Drill chucks and machine tools accessories. Sharp Chucks IPO is an SME IPO and a fixed price issue.

Let us check Sharp Chucks IPO price band, subscription status, GMP and other key details:

Sharp Chucks IPO: Key things to know

Sharp Chucks IPO Subscription Status: Sharp Chucks And Machines IPO has been subscribed 54.20 times on Thursday, October 5, the fourth and last day of the bidding process. The public issue received bids for 14.9 crore equity shares as against 27.56 lakh shares on the offer, as per the data available chittorgarh.com

The IPO has been booked 63.69 times in the retail category and 38.76 times in the Non-Institutional Investors' (NII) category.

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Sharp Chucks IPO Dates: Sharp Chucks IPO opened for public subscription on September 29 and closes today, October 5. The company is likely to finalise the basis of allotment on October 10 and initiate refunds on October 11. The credit of shares are expected to take place on October 12.

Sharp Chucks IPO Price Band: The SME IPO price band is ₹58 per share. It is a fixed price issue.

Sharp Chucks IPO Details: Sharp Chucks IPO issue size is ₹16.84 crore that comprises a combination of fresh issue of 9.75 lakh shares aggregating to ₹5.66 crore and offer for sale (OFS) of 19.29 lakh shares aggregating to ₹11.19 crore.

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Sharp Chucks IPO Lot Size: The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹116,000.

Sharp Chucks IPO Listing: The shares of Sharp Chucks and Machines are proposed to be listed on October 13 at NSE SME.

Sharp Chucks And Machines IPO Reservation: In the IPO, the company has reserved 47.5% of the shares for the Retail category and another 47.5% for Others category, while 5.1% of the offer is reserved for the Market Maker of the IPO.

Sharp Chucks IPO Manager, Registrar: The book running lead manager of the Sharp Chucks And Machines IPO is Fedex Securities Pvt Ltd, while Skyline Financial Services Private Ltd is the IPO registrar.

Sharp Chucks IPO Financials: The company posted a total revenue of ₹179.31 crore and a net profit of ₹5.07 crore in FY23.

Also Read: IPO fundraising slumps by 26% in H1 FY24 to ₹26,300 crore, shows data

Sharp Chucks IPO GMP Today:

Sharp Chucks IPO GMP today, or grey market premium today, has dropped to ₹10 per share, as per market observers. The GMP today indicates that the Sharp Chucks and Machines shares are trading higher by ₹10, or at a premium of 17.24% to its issue price, in the grey market.

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