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Business News/ Markets / Stock Markets/  Teerth Gopicon share price makes a positive debut, stock opens with 12.6% premium at 125 apiece on NSE SME
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Teerth Gopicon share price makes a positive debut, stock opens with 12.6% premium at ₹125 apiece on NSE SME

Teerth Gopicon share price made a decent debut on NSE SME with share price opening at ₹125, 12.6% higher than the issue price of ₹111. The IPO received overwhelming response with a subscription status of 75.54 times.

Teerth Gopicon share price lists on NSE SME today. (Photo: Company Website)Premium
Teerth Gopicon share price lists on NSE SME today. (Photo: Company Website)

Teerth Gopicon share price made a positive debut on NSE SME today. On NSE SME, Teerth Gopicon share price opened at 125, which is 12.6% higher than the issue price of 111.

Teerth Gopicon IPO opened for subscription on Monday, April 8, and closed on Wednesday, April 10. The price band for the issue was set at 111 apiece, with a face value of 10. The Teerth Gopicon IPO lot size was 1,200 equity shares, which investors may bid on at least. On day three, the Teerth Gopicon IPO subscription status was 75.54 times.

In Teerth Gopicon IPO, the market maker portion was allotted up to 2,00,400 equity shares; non-institutional investors (NII) allotted up to 18,99,600 equity shares; and retail individual investors (RII) allotted  up to 18,99,600 equity shares too.

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Also Read: Teerth Gopicon IPO allotment finalised today; latest GMP, steps to check allotment status online

The company is an engineering, construction, and development firm that works mostly on road, sewage, and water distribution projects in the state of Madhya Pradesh. The business has also built residential towers in Indore and functioned as a subcontractor there.

As a registered civil contractor, the firm has undertaken many projects for the Central and State governments, including ISCDL, IMC, USCL, UMC, MPJNM, and others. It has also completed building projects for the private sector.

Also Read: DCG Cables and Wires share price makes a weak debut, stock opens with 10% discount at 90 apiece on NSE SME

Teerth Gopicon IPO details 

Teerth Gopicon IPO, worth 44.40 crore, consists of a fresh issue of 3,999,600 equity shares with a face value of 10. There is no offer-for-sale component.

The firm plans to cover its working capital needs and other corporate purposes with the net proceeds from the offering.

The Teerth Gopicon IPO's book running lead manager is Interactive Financial Services Ltd, while the issue's registrar is Bigshare Services Pvt Ltd. Giriraj Stock Broking is the market maker for Teerth Gopicon IPO.

Also Read: Teerth Gopicon IPO Day 3: Issue subscribed 75 times on last day; check GMP, other key details of SME IPO

Teerth Gopicon IPO GMP today

Teerth Gopicon IPO GMP or grey market premium is +16. This indicates Teerth Gopicon share price were trading at a premium of 16 in the grey market, according to investorgain.com.

Teerth Gopicon Ltd anticipated that the listing price would be 127 per share, 14.41% higher than the IPO price of 111 after taking into consideration the upper end of the IPO pricing band and the present premium on the grey market.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: IPO this week: Vodafone Idea FPO, 2 SME issues and 2 new listings scheduled for this week; check full list here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 16 Apr 2024, 10:09 AM IST
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