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Business News/ Markets / Stock Markets/  Owais Metal and Mineral IPO: GMP rises, subscription status day 2, issue details, all you need to know
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Owais Metal and Mineral IPO: GMP rises, subscription status day 2, issue details, all you need to know

Owais Metal and Mineral IPO: The issue opened for subscription on February 26, 2024 and closes on February 28, 2024. IPO was subscribed 47.68 times by 6.00 PM on February 27, 2024 (day 2). The public issue subscribed 78.95 times in the retail category. Strong subscription led the GMP to rise

Owais Metal and Mineral IPO: GMP rises,Premium
Owais Metal and Mineral IPO: GMP rises,

Owais Metal and Mineral Processing IPO opened for subscription today ( February 26, 2024) and closes on February 28, 2024. The IPO price band is set at 83 to 87 per share.

Owais Metal and Mineral Processing ltd main interest is in metal and minerals mining and processing. It engages in the manufacturing and processing of minerals including Manganese Oxide, MC Ferro Manganese, Wood Charcoal, Ferro Alloy, Quartz, and Manganese Ore

IPO subscription Status:

 Owais Metal and Mineral Processing IPO subscribed 47.68 times by 6.00 PM on  February 27, 2024 (day 2). The public issue subscribed 78.95 times in the retail category, 0.71 times in QIB, and 37.24 times in the NII category as per chottorgarh.com data.

GMP rises

Shares of the company are available at a premium of 115 in grey market today and has risen from 70 per share a day earlier. The subscription status indicates that the investors are expecting stronger listing on the exchanges. Grey market premium' indicates investors' readiness to pay more than the issue price.

Key things to Know-

1] Owais Metal and Mineral Processing IPO date: The public issue opened for subscription on February 26, 2024 and closes on February 28, 2024.

Also Read-  Platinum Industries IPO fully booked in less than an hour of opening; retail, NII portion gets full subscription

2] Owais Metal and Mineral Processing IPO price: The Owais Metal and Mineral Processing IPO price band is set at 83 to 87 per share.

3] Owais Metal and Mineral Processing IPO size: The SME IPO of Owais Metal and Mineral Processing aims to raise 43 crore through the issuance of 49.07 lakh shares (Up to 49,07,200 Equity shares. The face value of Equity Shares is 10/- each. Of the total share being issues, 1,598,400 or 32.57% are being offered to the retail shareholders.

4] Owais Metal and Mineral Processing IPO Lot size: The minimum lot size for an application is 1600 Shares and multiples thereafter. The minimum amount of investment required by retail investors is 139,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to 278,400.

5. Owais Metal and Mineral Processing IPO allotment date: Owais Metal and Mineral Processing IPO allotment is expected to be finalized on Thursday, February 29, 2024

6. Owais Metal and Mineral Processing IPO Listing date: Owais Metal and Mineral Processing IPO is likely to list on NSE SME with tentative listing date fixed as Monday, March 4, 2024.

7 Owais Metal and Mineral Processing IPO objects of the issue:

Owais Metal and Mineral Processing intends to utilize the Net Fresh Issue Proceeds for the following Objects (“Objects of the Issue")

a) Purchase of Equipments to Facilitate Manufacturing

b) Working Capital Requirements

c) General Corporate Purposes

8. Owais Metal and Mineral Processing IPO registrar: Gretex Corporate Services Limited is the book running lead manager of the Owais Metal and Mineral Processing IPO, while Bigshare Services Pvt Ltd is the registrarfor the issue. The market maker for Owais Metal and Mineral Processing IPO is Gretex Share Broking.

Also Read- Platinum Industries IPO : Here are 10 key risks from the RHP you should know before subscribing

 9. Owais Metal and Mineral Processing IPO GMP: Shares of the company are available at a premium of 115 in grey market today higher than 70 a day earlier. The GMP indicates that investors are expecting listing of the shares at 202, 132.18% over the issue price of 87.

10. Owais Metal and Mineral Processing IPO Promoters. Saiyyed Owais Ali, Sayyad Akhtar Ali, and Saiyyed Murtuza Ali are the promoters of the company..

 

 

 

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Published: 27 Feb 2024, 05:43 PM IST
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