Shri Balaji Valve Components IPO: Check GMP, subscription status on day 3, other key details

Shri Balaji Valve Components IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) Shri Balaji Valve Components Limited received overwhelming response from investors on Friday, December 29, as the issue was subscribed 276.44 times on the third and final day of bidding. Shri Balaji Valve Components opened for subscription on December 27 and closes today.

Shri Balaji Valve Components IPO received strong response from retail investors, non-institutional investors (NIIs) and qualified institutional buyers (QIBs) on day one All three portions could not be fully subscribed on the final day. 

Shri Balaji Valve Components manufactures forged products in addition to valve components for butterfly, ball, and other types of valves. The company manufactures a wide range of valve parts, including hoods, discs, sleeves, trunnions, spindles, valve bodies, ports, shafts, among others. These parts are utilised in many different kinds of valves, including control, gate, check, butterfly, and ball valves.

Also Read: Shri Balaji Valve Components Limited IPO sets price band at ₹95-100 apiece: GMP, issue details, more

Shri Balaji Valve Components IPO Subscription Status

Shri Balaji Valve Components IPO has received 39,60,82,800 shares against 14,32,800 shares on the offer, according to Chittorgarh.com.

Shri Balaji Valve Components IPO has reserved not more than 50 per cent of the shares in the public issue for QIBs, not less than 15 per cent for NIIs, and not less than 35 per cent of the offer for retail investors.

On the third day, the portion reserved for retail investors was subscribed 169.95 times. Shri Balaji Valve Components IPOs' retail investors' portion received bids for 12,17,55,600 shares against 7,16,400 shares on offer for this segment.

The portion reserved for NIIs was subscribed 799.70 times. Shri Balaji Valve Components IPOs' NII portion received bids for 24,56,67,600 shares against 3,07,200 shares on offer for the segment.

The portion reserved for QIBs was subscribed 70.04 times. Shri Balaji Valve Components IPOs' QIB portion received bids for 2,86,59,600 shares against 4,09,200 shares on offer for the segment.

Shri Balaji Valve Components IPO was subscribed 13.77 times on the second day of bidding.

Shri Balaji Valve Components IPO Details

Shri Balaji Valve Components Limited IPO, which is worth ₹21.60 crore, is completely a fresh issue of 2,160,000 equity share; there is no offer for sale (OFS) component, according to RHP.

Shri Balaji Valve Components Limited IPO price band is set in the range of ₹95 to ₹100. Shri Balaji Valve Components Limited IPO lot size consists of 1,200 shares. Investors can bid for a minimum of 1,200 shares and in multiples thereof.

The company plans to use the issue's proceeds for the following purposes: general corporate purposes, working capital requirements, and financing capital expenditures for the installation of additional plant and machinery.

The registrar for the Balaji Valve Components IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Hem Securities Limited. In the Balaji Valve Components IPO, Hem Finlease is the market maker. The company's promoters are Shrinivas Laxmikant Kole, Madhuri Laxmikant Kole, and Laxmikant Sadashiv Kole.

Tentatively, Shri Balaji Valve Components Limited IPO basis of allotment of shares will be finalised on Monday, January 1 and the company will initiate refunds on Tuesday, January 2, while the shares will be credited to the demat account of allottees on the same day. Shri Balaji Valve Components shares are likely to be listed on BSE SME Wednesday, January 3.
 

Shri Balaji Valve Components IPO GMP

Shri Balaji Valve Components Limited IPO GMP or grey market premium was ₹36, which meant that shares were trading trading at their issue price of ₹136 with ₹36 premium in the grey market according to investorgain.com. 'Grey market premium' indicates investors' readiness to pay more than the issue price.