Unlisted shares of Maxposure Ltd are trading Rs 52 higher in the grey market, which is a 157.58 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 is going to be closed on Wednesday, has received a blockbuster response from investors. Till 11:13 am on the final day of bidding on Wednesday, the Rs 20.26-crore IPO received 295.19 times subscription, garnering bids for 1,20,08,28,000 shares as against 40,68,000 shares on offer.
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The SME IPO was opened for public subscription on Monday.
The retail category has received an overwhelming 454.11 times subscription, while the non-institutional investor (NII) quota has got 297.83 times subscription. The qualified institutional buyers (QIBs) portion has received 7.65 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 52 higher in the grey market as compared with its issue price. The Rs 52 grey market premium or GMP means the grey market is expecting a 157.58 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.
The company’s innovative and diverse service portfolio and result oriented strategies have aided in curating an industry-wide client selection across various geographies.
Maxposure Limited has been associated with aviation and travel industry leaders, including IndiGo, Air India, Gulf Air, Air Arabia, Incredible India, Madhya Pradesh Tourism Board, Ministry of External Affairs, Oberoi Hotels and Resorts, the Taj Group of Hotels to name a few.
