Vdeal System IPO Day 1: Check subscription status , GMP, key dates and all you need to know

Vdeal System IPO Day1: The issue opened for subscription on Tuesday 27, August and closes for subscription on 29 August.

Subscription Status

The Vdeal System IPO was subscribed 4.41 by 5.30 PM on 27 August, 2024. The public issue had been subscribed 7.61 times in the retail category, Nil times in the QIB category, and 1.21 times in the NII category as per Chittorgarh.com data

Key dates

The subscription period for the Vdeal System IPO begins on August 27, 2024, and ends on August 29, 2024. On Friday, August 30, 2024, the allotment for the Vdeal System IPO is anticipated to be completed. The proposed listing date for the Vdeal System IPO is Tuesday, September 3, 2024, and listing will take place on the NSE SME.

The IPO price of Vdeal System is ₹112 per share. An application must have a minimum lot size of 1200 shares. Retail investors are needed to invest a minimum of ₹134,400. For HNI, a minimum investment of two lots (2,400 shares) of ₹268,800 is required.

Issue details and objectives

The fixed price offering of ₹18.08 crores is the Vdeal System IPO. The 16.14 lakh shares are being issued fully afresh.

Vdeal System Limited is a provider of integrated electrical and automation solutions that was founded in December 2009.

The corporation plans to use the funds from the issue to accomplish the following goals:

To fulfill the requirements for working capital

Repayment of all or a portion of a number of loans, both secured and unsecured, obtained by the business

For general corporate purposes

and to cover the issue costs

The Grey Market premium or the GMP

The Vdeal System IPO GMP was at +20 on Tuesday, as per investorgain.com. This implies that Vdeal System's share price was being offered for ₹ 20 more in the Grey market.

Considering the issue price of the Vdeal System IPO and the present premium on the grey market, the expected listing price, at ₹132 per share, is therefore 17.86% greater than the IPO price of ₹112.

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