Sharp Chucks IPO listing: Sharp Chucks share price opens at 14% premium at ₹66 on NSE SME

Sharp Chucks listing date : Sharp Chucks share price made a tepid debut on NSE SME today. On NSE SME, Sharp Chucks And Machines Limited share price today was listed at ₹66 per share, 13.8% higher than the issue price of ₹58.

Sharp Chucks IPO opened for subscription on Friday, September 29, and closed on Thursday, October 5. The company set the price band at ₹58 per share. Investors bid for a minimum of 2,000 shares and in multiples thereof. The promoters of the company are Ajay Sikka and Gopika Sikka.

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Sharp Chucks And Machines IPO details

Sharp Chucks And Machines IPO, which is worth ₹16.84 crore, with fresh issue of 975,484 equity share aggregating to ₹5.66 crore; and offer for sale (OFS) component of 1,928,516 shares of ₹10 each totalling up to ₹11.19 crore.

The net proceeds of the offer will be used by the company to finance the following goals: general corporate purpose, and working capital requirements.

Sharp Chucks and Machines IPO's book running lead manager is Fedex Securities Pvt Ltd, while the issue's registrar is Skyline Financial Services Private Ltd. Nikunj Stock Brokers is the market maker for Sharp Chucks and Machines IPO.

Sharp Chucks and Machines Limited makes power chucks, lathe chucks, drill chucks, and other machine tool accessories for use in tractors, cars, railroads, material handling & earth moving equipment, DIY projects, defence, and other industries. It also manufactures forging and graded casting machined components of tractors and other automobiles.

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

Sharp Chucks IPO GMP today

Sharp Chucks IPO GMP today or  grey market premium is +19 per share. This indicates Sharp Chucks share price were trading at a premium of ₹19 in the grey market on Thursday, as per investorgain.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sharp Chucks share price was ₹77 apiece, which is 32.76% higher than the IPO price of ₹58.

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

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