Winny Immigration IPO: SME issue fully subscribed over 27 times on day 2: Check latest GMP, subscription status

  • Winny Immigration IPO: The SME IPO was fully booked on the first day of opening and was subscribed over 27 times on the second day of bidding

Nikita Prasad
Updated21 Jun 2024, 07:52 PM IST
Winny Immigration IPO: The SME issue was subscribed over 10 times on day one of bidding (Image credit: https://winnyimmigration.com/)
Winny Immigration IPO: The SME issue was subscribed over 10 times on day one of bidding (Image credit: https://winnyimmigration.com/)

Winny Immigration IPO: The initial public offering (IPO) of the small and medium-sized enterprise (SME) Winny Immigration and Education Services Ltd was subscribed over 27 times by the end of the second day of bidding, according to stock exchange data. The SME IPO of the visa service provider will remain open for investors till June 24, 2024.

Winny Immigration IPO offers a total of 652,000 shares. The Ahmedabad-based company had reserved a total of 309,000 equity shares or 47.39 per cent to retail investors and the same for non-institutional investors (NIIs) in the issue. 34,000 equity shares or 5.21 per cent are also set aside for market makers.

Also Read: Winny Immigration IPO price band set at 140 per share; issue to open on June 20

Winny Immigration IPO Subscription Status:

On Friday, Winny Immigration IPO was subscribed 27.85 times. Retail investors bid the highest as the portion reserved for them was subscribed 35.73 times and the portion reserved for NIIs was booked 18.58 times. The SME IPO received 1,72,14,000 share applications against offered 6,18,000 shares on Friday.

Winny Immigration and Education Services Ltd opened for subscription on Thursday, June 20 and was subscribed 10.12 times on the first day of issue. The SME IPO received 6,18,000 share applications against offered 62,54,000 shares on Thursday. NIIs bid the highest as the portion reserved for them was booked 11.38 times. 

The NII portion was subscribed 11.38 times and received 25,22,000 shares on Thursday. The portion reserved for retail investors was subscribed 8.16 times and received 25,22,000 equity shares, according to Chittorgarh.com.

Winny Immigration IPO Details:

Winny Immigration IPO is a fixed price issue of 9.13 crore. The issue is entirely a fresh issue of 6.52 lakh shares. The IPO lot size is 1,000 shares and the minimum investment amount required by retail investors is 140,000. 

The SME IPO closes on June 24, 2024. The IPO allotment is expected to be finalized on June 25, and the equity shares of Winny Immigration IPO will be listed on NSE SME with a tentative listing date set as June 27.

Jignesh Patel is the promoter of Winny Immigration and Education Services. The promoter shareholding will reduce to 58.51 per cent after the IPO from 83.63 per cent at present. Interactive Financial Services Ltd is the book running lead manager of the Winny Immigration and Education Services IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

The company aims to raise over 9 crore from the primary market. The company will credit the shares into the demat accounts of eligible bidders on June 26 and initiate refunds to the unsuccessful bidders on the same day. The company proposes to use the net issue proceeds for opening new offices in India, software development, repayment of debt, branding and advertisement and general corporate purposes.

Also Read: DEE Development IPO Day 2: From core business to financials, here are 10 key things to know from RHP before investing

Winny Immigration Company Details:

Winny Immigration is involved in the visa consultancy business and provides assistance to individuals for study, travel, business, work and migration purposes. The company assists individuals for study, travel, work, business, and migration purposes. The company has 12 offices in Gujarat, Maharashtra, and Delhi, including branches, franchisees, and a virtual office in Canada.

Winny Immigration and Education Services reported a net profit of 39.27 lakh upon a revenue of 11.02 crore in fiscal 2023-24 (FY24). It had reported a net profit of 1.44 crore and a revenue of 11.97 crore in FY23.

Winny Immigration IPO GMP:

Winny Immigration IPO GMP today, or grey market premium today, is 60 per share, according to stock market observers. This indicates that the equity shares of Winny Immigration and Education Services are trading at 200 apiece in the grey market, a premium of 42.86 per cent to the IPO price of 140 per share.

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First Published:21 Jun 2024, 07:52 PM IST
HomeMarketsIPOWinny Immigration IPO: SME issue fully subscribed over 27 times on day 2: Check latest GMP, subscription status

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