Shubhshree Biofuels Energy IPO subscribed 2.99 times on day 1; check GMP, subscription status, other details

Shubhshree Biofuels Energy Limited's initial public offering (IPO), through a book-building process, offers a fresh issue of equity shares, opened for subscription on September 9. The public offer was oversubscribed 2.99 times, as per exchange data. 

Anubhav Mukherjee
Published9 Sep 2024, 09:58 PM IST
Shubhshree Biofuels Energy IPO was oversubscribed 2.99 times on September 9.
Shubhshree Biofuels Energy IPO was oversubscribed 2.99 times on September 9.(iStock)

Shubhshree Biofuels Energy Limited's initial public offering (IPO), through a book-building process, offers a fresh issue of equity shares, opened for subscription on September 9. The public offer was oversubscribed 2.99 times. Investors bid for 24.67 lakh shares compared to the 8.96 lakh shares available.

Also Read | Bajaj Housing Finance IPO fully subscribed on day 1; check GMP, details here

The retail investors subscribed to the public issue the most, 5.19 times their allotted portion on the first day. The non-institutional investors (NIIs) followed the retail investors and subscribed to the IPO 1.39 times on top of their allotted portion. The qualified institutional buyers (QIBs) did not subscribe to the public offer on Day 1, according to the National Stock Exchange (NSE) IPO data.

The Shubhshree Biofuels Energy IPO subscription opened on Monday, September 9, and closes on Wednesday, September 11. The IPO's price band has been set at 113 to 119 per equity share, with a face value of 10 per share. The public issue raised 4.684 crore from its anchor investor round. Shubhshree's public issue has set the lot size at 1,200 shares.

Also Read | Share Samadhan IPO subscribed over 1.10 times on day 1; check details here

Shubhshree Biofuels Energy IPO GMP today

As of September 9, Shubhshree Biofuels Energy IPO's grey market premium (GMP) is 0. Grey market premium (GMP) is the investor's willingness to pay more on top of the issue price.

The company's price band is at the upper level of 119, and Shubhshree Biofuels Energy's IPO's estimated listing price is 119, according to investorgain.com. The public issue is expected to list at a gain/loss of zero per cent.

Also Read | Kross IPO subscribed 88% on Day 1, driven by retail investor interest at 1.50x

Shubhshree Biofuels Energy IPO details

Shubhshree Biofuels Energy Limited supplies biomass fuels, including biomass pellets and briquettes, to customers in the recycled material, textile processing, pharmaceutical, and metal sectors.

The public issue offers a fresh issue of 13,92,000 or 13.92 lakh equity shares at a face value of 10 per share. The IPO offers 17.17 per cent to Qualified Institutional Buyers (QIB), 34.01 per cent to Non-institutional investors, and 28.9 per cent to retail investors, as per data from Chittorgarh's website.

 

 

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First Published:9 Sep 2024, 09:58 PM IST
Business NewsMarketsIPOShubhshree Biofuels Energy IPO subscribed 2.99 times on day 1; check GMP, subscription status, other details

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