Admach Systems IPO Day 1: Latest GMP, subscription status, listing date & other details about ₹42 crore issue

Admach Systems IPO in focus today: The IPO of Admach Systems, which opened today for bidding, has received a tepid response from investors, with the issue being subscribed just 0.03 times as of 5:00 PM.

The issue received bids for 51,000 shares against 14.82 lakh shares on offer. Segment-wise, the non-institutional investor category was subscribed by only 0.01 times, while the retail portion was subscribed 0.06 times. The Qualified Institutional Buyer (QIB) category has not yet opened for bidding, according to exchange data.

The company proposes to utilize the net proceeds from the IPO to meet working capital requirements and for general corporate purposes.

Admach Systems issue details

1. Admach Systems IPO date: The issue opened for subscription today, December 23, and will remain open until December 26.

2. Admach Systems IPO Price: The price band of the IPO has been fixed between ₹227 and ₹239 per equity share.

3. Admach Systems IPO Size: The company aims to raise ₹42.60 crore through the IPO, which is a fresh issue of 18 lakh shares.

4. Admach Systems IPO Lot Size: The IPO lot size is fixed at 1200 shares, requiring a minimum investment of ₹2.86 lakh for retail investors.

5. Admach Systems IPO reservation: The IPO offers 592,200 shares to QIB, 379,800 shares were reserved for non-institutional buyers, and 721,200 for retail investors.

6. Admach Systems IPO allotment date: The IPO allotment date is set for Monday, December 29. Investors who receive an allotment will see the shares in their demat accounts by Tuesday, December 30, while those who do not will have their refunds processed on the same day.

7. Admach Systems IPO listing: The SME IPO is proposed to list on the BSE SME on Wednesday, December 31.

8. Admach Systems IPO GMP: According to market sources, the GMP of the Admach Systems IPO on Tuesday was nil, indicating that the stock might list at the same as the issue price or possibly at a discount to it.

9. Admach Systems IPO book-running lead manager and registrar: Aftertrade Broking Pvt. Ltd. is the book-running lead manager, and Maashitla Securities Pvt. Ltd. is the registrar of the issue. The market makers of the company are NNM Securities Pvt. Ltd. and Aftertrade Broking Pvt. Ltd.

10. Admach Systems overview: The company is engaged in designing, manufacturing, exporting, and supplying customized special-purpose machines and automation systems for the Indian and global engineering industry. Its offerings primarily cater to the steel, automobile, food, tooling, and other engineering industries.

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