Vivaa Tradecom IPO Day 5: Issue subscribed 1.81 times on last day; retail portion booked 2.86x

Vivaa Tradecom IPO: The initial public offering (IPO) of readymade garment manufacturer Vivaa Tradecom Ltd has been fully subscribed on last day. The ₹7.99-crore Vivaa Tradecom IPO opened for public subscription on September 27.

Vivaa Tradecom IPO is an SME IPO and will close today, October 4.

Vivaa Tradecom is a manufacturer and trader of clothes and garments. The company's product list includes Denim Fabric, readymade garments such as Denim and Cotton Jeans for Men and women.

The company also undertakes the Cotton Printing Job work and trades in Printed Cotton Fabric.

Let us take a look at Vivaa Tradecom IPO subscription status, GMP and other key details:

Vivaa Tradecom IPO Subscription Status

Vivaa Tradecom IPO has been subscribed 1.81 times on Wednesday, October 4, the fifth and the last day of the bidding process. The public issue has received bids for 26.82 lakh equity shares as against 15.66 lakh shares offered, as per data available at chittorgarh.com

The IPO has been booked 2.86 times in the retail category and 70% in the Non-Institutional Investors’ (NII) category.

Also Read: Plaza Wires IPO: Bidding ends today. Check GMP, subscription status, apply or not?

Vivaa Tradecom IPO GMP Today

Vivaa Tradecom IPO GMP today, or grey market premium today, is ₹0 per share, as per market observers. This indicates that Vivaa Tradecom shares are trading at their issue price of ₹51 apiece without any premium or discount, in the grey market.

Vivaa Tradecom IPO Details

Vivaa Tradecom IPO opened for subscription on September 27 and closes today, October 4. The company is likely to fix the IPO share allotment on October 9 and initiate refunds on October 10, while credit the shares to allottees on October 11.

Vivaa Tradecom shares are proposed to be listed on BSE SME on October 12, 2023.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!)

Vivaa Tradecom IPO price band is set at ₹51 per share. The IPO issue size is ₹7.99 crore which is entirely a fresh issue of 15.66 lakh equity shares. The face value of each share is ₹10 apiece.

The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹102,000.

The company has reserved 7.42 lakh shares or 47.38% of the total shares for retail investors while another 47.38% shares are reserved for Non-Institutional Investors (NII) in the IPO.

Also Read: Updater Services share price rebounds after opening at discount. Buy, hold or exit?

Vivaa Tradecom IPO Lead Manager, Registrar: Interactive Financial Services is the lead manager to the issue, while Bigshare Services Pvt Ltd is the IPO registrar.

The company intends to utilize the net proceeds from the issue towards the funding working capital requirements and general corporate purpose.

Read all IPO-related news here