Maxposure IPO Day 1: Over 66 Times Subscription Received, Check Latest GMP Today

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Unlisted shares of Maxposure Ltd are trading Rs 51 higher in the grey market, which is a 154.55 per cent listing gain from the public issue

Maxposure IPO: The initial public offering (IPO) of personalised media and entertainment services provider Maxposure Ltd, which was opened for public subscription on Monday, has so far received a whopping response from investors. Till 4:39 pm on the first day of bidding on Monday, the Rs 20.26-crore IPO received 66.66 times subscription, garnering bids for 27,11,64,000 shares as against 40,68,000 shares on offer.

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The retail category has received an overwhelming 104.39 times subscription, while the non-institutional investor (NII) quota has got 63.41 times subscription. The qualified institutional buyers (QIBs) portion has received 1.38 times subscription.

The price of the SME IPO was fixed at Rs 31-33 per share.

The IPO allotment will take place on January 18, while its listing will take place on the NSE SME on January 22.

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Maxposure IPO GMP Today

According to market observers, unlisted shares of Maxposure Ltd are trading Rs 51 higher in the grey market as compared with its issue price. The Rs 51 grey market premium or GMP means the grey market is expecting a 154.55 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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Maxposure IPO Details

Maxposure IPO is a book-built issue of Rs 20.26 crores. The issue is entirely a fresh issue of 61.4 lakh shares.

The IPO price band was fixed at Rs 31-Rs 33 per share. The minimum lot size for an application is 4,000 shares, and the minimum amount of investment required by retail investors is Rs 1,32,000.

GYR Capital Advisors Private Limited is the book-running lead manager of the Maxposure IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Maxposure IPO is Giriraj Stock Broking.