Shivalic Power Control IPO day1: The Initial Public offer opened for investors subscription today. i.e 24 June, 2024, will remain available for subscription till 26 June’2024. The SME (small and Medium Enterprises) IPO was subscribed more than 8 times on day 1
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Shivalic Power Control IPO day1 subscription status
Shivalic Power Control IPO has received a good response being subscribe 8.42 subscriptions on June 24, 2024, by 5:00 PM as per Chittorgarh.com data. The public issue had been subscribed 13.65 times in the retail category, 1.41 times in the QIB category, and 5.57 times in the NII category.
Shivalic Power Control IPO ; Key dates
The SME IPO that opened for investors subscription on Monday, 24 June, 2024, will remain available for subscription till Wednesday, 26 June’2024
On Thursday, June 27, 2024, the allocation for the Shivalic Power Control IPO is anticipated to be completed.
On Monday, July 1, 2024, is the tentative listing date for the Shivalic Power Control IPO on NSE SME.
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Shivalic Power Control IPO: price band, lot size other details
The Shivalic Power Control IPO is a 64.32 lakh share fresh offering totaling ₹64.32 crore, which is a book-built issue. A price range of ₹95 to ₹100 per share has been set for the IPO. Looking at the price Band and the minimum bid lot size of 1200 shares retail investors will need to invest ₹120,000. For HNI’s since they need apply for a minimum of 2 lots (2,400 shares), the investments amount to ₹240,000.
Shivalic Power Control IPO: Objectives of the issue
Shivalic Power Control which is issuing 64.32 lakh share fresh will be raising a total of ₹64.32 crore plans to use the proceeds to to meet the working capital requirements of the company, for meeting capital expenditure of the company, for funding for procurement of new machinery. Some amont is also to be utilised for civil construction of warehouse by shedding the roof and also can help meet out the inorganic growth through unidentified acquisition for the company. Some anount can be used to meet the general Corporate Expenses
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Shivalic Power Control IPO GMP or Grey Market premium
Investorgains.com data indicates that the current grey market market premium (GMP) for the Shivalic Power Control initial public offering (IPO) is ₹155 per share.
The same means that the Shivalic Power Control IPO equity shares are selling for ₹255 on the Grey market, which is a 155% premium over the ₹100 share issuance price.
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
