BackVinyas Innovative IPO opens: GMP, review, subscription status on day 2, other key details
Vinyas Innovative Technologies IPO opens for subscription, with a price band of ₹162 to ₹165 per equity share.
PremiumVinyas Innovative Technologies IPO has opened for subscription on Wednesday, September 27, and will close on Tuesday, October 3. Vinyas IPO raised ₹15.56 crore from anchor investors on Tuesday, September 26. Vinyas Innovative IPO price band has been set in the range of ₹162 to ₹165 per equity share of face value of ₹10 each. Vinyas IPO lot size is 800 equity shares and in multiples of 800 equity shares thereafter.
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Vinyas Innovative IPO details
Vinyas IPO, which is worth ₹54.66 crores, is completely a fresh issue of 3,312,800 equity share; there is no offer for sale (OFS) component. Narendra Narayanan, Meera Narendra, and Narendra Sumukh are the company's promoters.
The company plans to use the net proceeds from the offering to finance the following objectives, including meeting its working capital needs, general corporate purposes, and issue expenditures.
The registrar for the Vinyas Innovative Technologies IPO is Skyline Financial Services Private Ltd, while the book-running lead manager is Sarthi Capital Advisors Private Limited. Gretex Share Broking is the market maker for the IPO of Vinyas Innovative Technologies.
As stated in the Red Herring Prospectus (RHP), the listed peer companies are Cyient DLM Limited, and Centum Electronics Limited (with P/E of 85.73).
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Vinyas Innovative Technologies Limited offers design, engineering, and manufacturing services for electronic products to original equipment manufacturers and original design manufacturers across the globe.
As per RHP, the company's revenue from operations stood at ₹20,502.91 lakhs in Fiscal 2021, ₹20,773.76 lakhs in Fiscal 2022, and ₹23,452.40 lakhs in Fiscal 2023, respectively.
Vinyas Innovative IPO Subscription Status
Vinyas IPO subscription status today is 37% on day 2. The issue received response from retail investors whose portion set was subscribed 47%, and non-institutional buyers whose portion set was subscribed 62%, according to data on chittorgarh.com.
The company has received bids for 8,13,600 shares against 3,312,800 shares on offer, according to data on chittorgarh.com.
Vinyas IPO subscription status today is 23% on day 1.
Vinyas Innovative Technologies IPO GMP today
Vinyas Innovative IPO GMP today or grey market premium is +18 slightly lower than the previous trading session, which was +20. This indicates that the shares of Vinyas Innovative IPO GMP today were trading at a premium of ₹18 in the grey market on Thursday, according to investorgain.com
Considering the upper end of the Vinyas Innovative IPO price band and the current premium in the grey market, the estimated listing price of Vinyas Innovative share price was ₹183 apiece, which is 10.91% higher than the Vinyas Innovative IPO issue price of ₹165.
On Tuesday, Vinyas Innovative IPO GMP was ₹0, which meant shares were trading at their issue price of ₹165 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Vinyas IPO apply or not?
“Vinyas Innovative Technologies is a global player in providing related services for design, engineering, and electronics manufacturing. It posted static performance for FY21 and FY22, but reported boosted margins for FY23, and based on these earnings, the issue appears fully priced. Well-informed investors may park funds for medium to long-term rewards," said Dilip Davda, the contributing editor at Chittorgarh.com
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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