Vruddhi Engineering Works share price makes a dull D-Street Debut, stock opens with 1.4% premium at ₹71 on BSE SME

Vruddhi Engineering Works share price made a dull debut on BSE SME today. On BSE SME, Vruddhi Engineering share price opened at ₹71, which is 1.4% higher than the issue price of ₹70. Following a lukewarm listing, Vruddhi Engineering Works share price rose over 6%. 

Vruddhi Engineering Works IPO opened for subscription on Tuesday, March 26, and closed on Thursday, March 28. The issue's price band was fixed in the range of ₹66 to ₹70 apiece of face value of ₹10. Vruddhi Engineering Works IPO lot size comprised of 2,000 shares. Bids could be placed for multiples of 2,000 shares, with a minimum bid of 2,000.

Also Read: Vruddhi Engineering Works IPO allotment finalised today; latest GMP, 4 steps to check status

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According to chittorgarh.com, the Vruddhi Engineering Works IPO subscription status on Day 3 was 12.67 times.  The issue's retail component was booked 20.10 times, while the non-institutional investors portion was subscribed 28.14 times. The buyers category for qualified institutions was reserved 1.05 times.

Also Read: Vruddhi Engineering Works IPO to open next week, price band fixed at ₹66-70 apiece; details here

Vruddhi Engineering Works IPO details

Vruddhi Engineering Works IPO, which is worth ₹4.76 crore, consists of a fresh issue of equity shares with a face value of ₹10. There is no offer-for-sale component.

The company will use the net proceeds of the offer to fund both its working capital needs and its general corporate purpose.

Fedex Securities Pvt Ltd is the book running lead manager for the Vruddhi Engineering Works IPO, while Bigshare Services Pvt Ltd is the issue registrar.

Also Read: Vruddhi Engineering Works IPO: Check GMP, subscription status on day 3, other details

Vruddhi Engineering Works IPO GMP today

Vruddhi Engineering Works IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹70 with no premium or discount in the grey market according to investorgain.com.

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

Also Read: Blue Pebble share price lists with a 18.5 % premium, at ₹199 on the NSE SME

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