Supreme Power Equipment IPO: GMP, subscription status, other details of NSE SME issue in 10 points

Supreme Power Equipment IPO: The initial public offering (IPO) of Supreme Power Equipment Limited opened for subscribers on 21st December 2023 and it will remain open for subscribers till 26th December 2023. The public issue is proposed for listing on NSE SME platform and it aims to raise 46.67 crore via issuance of fresh shares. The transformer and generator company has fixed Supreme Power Equipment IPO price band at ₹61 to ₹65 per equity share.

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Meanwhile, shares of the engineering company are available for trade in grey market. According to stock market observers, Supreme Power Equipment shares are quoting at a premium of ₹51 in grey market today.

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Important Supreme Power Equipment IPO details

1] Supreme Power Equipment IPO GMP: Shares of the engineering company are available at a premium of ₹51 in grey market today, say market observers.

2] Supreme Power Equipment IPO price: Company has fixed issue price at ₹61 to ₹66 per equity share.

3] Supreme Power Equipment IPO date: The public issue opened on 21st December 2023 and it will remain open till 26th December 2023.

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4] Supreme Power Equipment IPO subscription status: The public issue has been subscribed 10.94 times by 3:18 PM on day two of bidding.

5] Supreme Power Equipment IPO size: The engineering company aims to raise rs 46.67 crore from ths public offer.

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6] Supreme Power Equipment IPO lot size: A bidder will be able to apply for the public issue and one lot of the IPO comprises 2,000 shares of the company.

7] Supreme Power Equipment IPO allotment date: Finalisation of share allocation is expected on 27th December 2023.

8] Supreme Power Equipment IPO registrar: Purva Sharegistry India Pvt Ltd has been appointed as official registrar of the public issue.

9] Supreme Power Equipment IPO listing: The book build issue is proposed for listing on NSE SME platform.

10] Supreme Power Equipment IPO listing date: In the wake of T+3 listing, the NSE SME IPO may list on 29th December 2023.

The net proceeds from the IPO will be utilized for capital expenditure requirements, working capital needs, and general corporate expenses. The Book Running Lead Manager to the Issue is Narnolia Financial Services Limited. The Registrar to the Issue is Purva Shareregistry Private Limited.

Speaking on the NSE SME IPO, Vee Rajmohan, Chairman And Managing Director of Supreme Power Equipment Limited said, “This IPO marks a significant milestone for us, and we are enthusiastic about the opportunities and growth that lies ahead. With over 29 years in the industry, we have proudly positioned ourselves as one of the leading manufacturer of power and distribution transformers in Tamil Nadu. This forthcoming step is a testament to our unwavering commitment to innovation and reliability. The net proceeds will be directed towards fulfilling our working capital requirements, funding capital expenditures, and managing general corporate expenses. We look forward to continued success in the transformer industry.”

Vipin Aggarwal, Director of Narnolia Financial Services Limited said, “We are pleased to be part of this milestone journey with Supreme Power Equipment Limited. As a distinguished player in the power and distribution transformer manufacturing industry, Supreme Power Equipment Limited showcases resilience and unmatched expertise. Their commitment to quality and innovation positions them as a leader in the field. As we embark on this collaborative journey, we look forward to contributing to their success and supporting their business growth.”

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