Unlisted shares of Sheetal Universal continue to trade Rs 12 higher in the grey market, which is 17.14% listing gain from the public issue
Sheetal Universal IPO: The initial public offering of Sheetal Universal Ltd, which received a whopping 179.20 subscription between December 4 and December 6, is going to be listed on the NSE SME on Monday, December 11. The Rs 23.80-crore IPO share allotment has been finalised.
The price of the Sheetal Universal SME IPO was fixed at Rs 70 a share. The category meant for non-institutional investors received 212.55 times subscription, while the quota for retail individual investors (RIIs) got subscribed a whopping 129.73 times.
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Sheetal Universal IPO GMP Today
According to market observers, unlisted shares of Sheetal Universal Ltd continue to trade Rs 12 higher in the grey market as compared with its issue price. The Rs 12 grey market premium or GMP means the grey market is expecting a 17.14 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Sheetal Universal IPO: How to Check Allotment Status
Investors can now check their IPO allotment here:
Step 1: Visit https://ipo.bigshareonline.com/IPO_Status.html
Step 2: Select the company ‘Sheetal Universal Limited’
Step 3: In ‘Selection Type’, choose one option from ‘PAN Number’, ‘Beneficiary ID’ and ‘Application Number’.
Step 4: Provide relevant details of the option chosen in Step 3.
Step 5: Enter Captcha and hit ‘Search’ button.
You will now get the status of your IPO allotment.
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Sheetal Universal IPO Details
The IPO comprised a fresh issue of 32,28,000 equity shares for public subscription with a face value of Rs 10 each. The company fixed the price band at Rs 70 per equity share for the IPO.
For investors, the minimum lot size to apply for the IPO was 2,000 shares. The minimum amount of investment required by retail investors was Rs 1,40,000. The minimum lot size investment for HNI was 2 lots (4,000 shares) amounting to Rs 2,80,000.
The proceeds from the issue will be utilised towards funding capital expenditure, working capital requirement, general corporate purpose, and to meet public issue expenses.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Sheetal Universal IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Sheetal Universal IPO is Spread X Securities.
The company’s revenue in FY23 stood at Rs 131.65 crore, while the profit after tax was Rs 1.98 crore.
