Unlisted shares of Arrowhead Seperation Engineering were trading at Rs 308 in the grey market, which is 32.19 per cent higher than the public issue
Arrowhead Seperation Engineering IPO: The initial public offering (IPO) of Arrowhead Seperation Engineering, which opened for public subscription on November 16, has received an overwhelming response, with the issue being subscribed 17.74 times on the second day of bidding so far. The Rs 13-crore SME IPO’s price was fixed at Rs 233 per share.
It will conclude on November 20 (Monday).
The category for non-institutional investors got subscribed 4.64 times while the quota for retail individual investors (RIIs) received a whopping 30.83 times subscription. The portion for qualified institutional buyers (QIBs) received bids for just 1,200 shares.
The share allotment will take place on November 23, while the listing will take place on the BSE SME on November 29.
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Arrowhead Seperation Engineering IPO GMP
According to market observers, unlisted shares of Arrowhead Seperation Engineering were trading Rs 75 higher in the grey market as compared with its issue price. The Rs 75 grey market premium or GMP means the grey market is expecting a 32.19 per cent listing gain from the public issue. The GMP is based on the market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Arrowhead Seperation Engineering IPO Details
The Rs 13-crore SME IPO’s price has been fixed at Rs 233 per share. The minimum lot size is 600 shares. The minimum amount of investment required by retail investors is Rs 1,39,800. The minimum lot size investment for HNI is 2 lots (1,200 shares) amounting to Rs 2,79,600.
Aryaman Financial Services Limited is the book-running lead manager of the Arrowhead Seperation Engineering IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Arrowhead Seperation Engineering IPO is Aryaman Capital Markets.
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About Arrowhead Seperation Engineering
Arrowhead Seperation Engineering Limited, which was set up in 1991, is into the manufacturing, trading and exporting of various types of dryers such as vacuum double drum dryer, rotary dryers, single drum dryer, double drum dryer, paddle dryer, flaker systems, totally enclosed single drum dryer, continuous particulate dryer, etc.
Its revenue during FY23 increased 98.91 per cent to Rs 21.71 crore and profit after tax (PAT) rose 1.69 per cent on a yearly basis.
