Shree OSFM IPO: Check issue date, price band, GMP and other details

Shree OSFM E-Mobility IPO will open for subscription on December 14 and will close on December 18. The company aims to raise over ₹24.60 crore from the upcoming public offer.

Established in 2006, Shree OSFM E-Mobility Limited, formerly recognized as Om Sai Fleet Management (India) Private Limited, specializes in delivering employee transportation services to prominent multinational corporations (MNCs) with a widespread presence in major cities throughout India.

The company has offices in 42 sites in cities like Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata. Shree OSFM E-Mobility's clientele includes JP Morgan, Morgan Stanley, Capgemini, Accenture, etc.

The company has announced a price band of ₹65 per share for its IPO. The issue is entirely a fresh issue of 37.84 lakh shares. Mr. Ramnath Chandar Patil and Mr. Nitin Bhagirath Shanbhag are the promoters of the company. 

Around 50% of the net offer is reserved for retail investors. The minimum lot size for an application is 2000 shares. The minimum amount of investment required by retail investors is ₹130,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹260,000.

Meanwhile, shares of Shree OSFM E-Mobility have become available in grey market, however, the shares are currently trading at a premium of ₹0.

Important details of Shree OSFM IPO –

Shree OSFM IPO date - The public issue will for subscription on December 14 and will close on December 18

Shree OSFM IPO price band - The company has fixed a price band of ₹65 per share.

Shree OSFM IPO size - It is a fixed price issue of ₹24.60 crores and is entirely a fresh issue of 37.84 lakh shares.

Shree OSFM IPO allotment date - The allotment for the Shree OSFM E-Mobility IPO is expected to be finalized on Tuesday, December 19, 2023.

Shree OSFM IPO registrar - First Overseas Capital Limited is the book running lead manager of the Shree OSFM E-Mobility IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Shree OSFM E-Mobility IPO is Bhh Securities.

Shree OSFM IPO listing date -  Shree OSFM E-Mobility IPO will list on NSE SME with tentative listing date fixed as Thursday, December 21, 2023.