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Business News/ Markets / Ipo/  Teerth Gopicon IPO Day 3: Issue subscribed 75 times on last day; check GMP, other key details of SME IPO
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Teerth Gopicon IPO Day 3: Issue subscribed 75 times on last day; check GMP, other key details of SME IPO

Teerth Gopicon IPO price band is ₹111 per share. The IPO lot size for an application is 1,200 shares and the minimum investment amount required by retail investors is ₹133,200.

Teerth Gopicon IPO is an SME IPO that opened on April 8 and closes on April 10. (Photo: Company Website)Premium
Teerth Gopicon IPO is an SME IPO that opened on April 8 and closes on April 10. (Photo: Company Website)

Teerth Gopicon IPO: The initial public offering (IPO) of infrastructure development company Teerth Gopicon Ltd received a stellar response from investors as the issue has been heavily oversubscribed.

Teerth Gopicon IPO is an SME IPO that opened for public subscription on April 8 and closes today, April 10.

The company plans to raise 44.39 crore from the fixed-price IPO and its shares are set to be listed on the NSE Emerge.

Also Read: Bharti Hexacom IPO shares to list on Friday; here's what latest GMP signals ahead of listing

Let us check Teerth Gopicon IPO GMP, subscription status and other key details:

Teerth Gopicon IPO Subscription Status

Teerth Gopicon IPO has been subscribed 75.54 times on Wednesday, the third and the last day of the bidding process. The public issue received bids for 28.69 crore equity shares as compared to the offer size of 37.99 lakh shares.

The IPO has been subscribed 44.33 times in the retail category, and 97.12 times in the Other category.

Teerth Gopicon IPO GMP Today

Teerth Gopicon IPO GMP today, or grey market premium today, has increased to 20 per share, as per stock market observers. This indicates that Teerth Gopicon shares are trading at a premium of 18.02% at 131 apiece in the grey market, as against the issue price of 111 per share.

Also Read: Grill Splendour Services Limited IPO: Price band set at 120 apiece; check GMP, issue details, more

Teerth Gopicon IPO Details

Teerth Gopicon IPO size is 44.40 crore which is entirely a fresh issue of 40 lakh equity shares.

The bidding for the IPO opened on April 8 and will close today, April 10. Teerth Gopicon IPO allotment is expected to be finalized on April 12 and the shares will list on NSE SME with a tentative listing date fixed as April 16.

Teerth Gopicon IPO price band is 111 per share. The IPO lot size for an application is 1,200 shares and the minimum investment amount required by retail investors is 133,200.

In the IPO, the company has reserved up to 18,99,600 equity shares for Non-Institutional Investors (NII) and up to 18,99,600 shares for Retail Individual Investors (RII).

Also Read: Ramdevbaba Solvent IPO announces price band at 80-85 apiece; issue to open on April 15

The lead manager to the Teerth Gopicon IPO is Interactive Financial Services and the IPO registrar is Bigshare Services Private Limited.

Teerth Gopicon is an engineering construction and development company with expertise in diverse civil engineering works and real estate projects. Maheshbhai Kumbhani, Chandrikaben Kumbhani and Pallav Kumbhani are the promoters of the company.

The company plans to use the net proceeds from the IPO to meet working capital requirements and general corporate expenses.

In FY23, the company reported a revenue of 39.07 crore, EBITDA of 2.87 crore, and a net profit of 1.79 crore.

Read all IPO news here

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 08 Apr 2024, 02:25 PM IST
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