Unlisted shares of Atmastco Ltd are trading Rs 15 higher in the grey market, which is a 19.48 per cent listing gain from the public issue
Atmastco IPO: The initial public offering of engineering, procurement and construction firm Atmastco Ltd, which was opened for public subscription on Thursday, February 15, has been fully subscribed. Till 11:08 am on the second day of bidding on Friday, the Rs 56.25-crore SME IPO received 1.82 times subscription, garnering bids for 1,26,36,800 shares as against 69,39,200 shares on offer.
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The IPO will remain open till February 20.
The retail category has received 3.21 times subscription and the non-institutional quota got 0.43 times subscription.
The allotment of Atmastco IPO will take place on February 21, while its listing will take place on both NSE SME on February 23, 2024.
Atmastco IPO GMP Today
According to market observers, unlisted shares of Atmastco Ltd are trading Rs 15 higher in the grey market as compared with its issue price. The Rs 15 grey market premium or GMP means the grey market is expecting a 19.48 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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Atmastco IPO Details
The Atmastco IPO is a combination of fresh issue of 54.8 lakh equity and an Offer For Sale (OFS) of 18.25 lakh shares with a fixed price of Rs 77 apiece, according to a statement. At this price, the company will mobilise Rs 42.2 crore through the fresh issue and Rs 14.06 crore by way of OFS.
The proceeds from the fresh issue will be primarily used for funding the working capital requirements of the company. Besides, some amount will be used for repayment of loans and general corporate purposes. The maiden public issue opens for subscription on February 15 and will conclude on February 20.
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It will raise a little over Rs 56 crore through an initial public offering that will open for subscription on February 15. Post the completion of the Initial Public Offering (IPO), shares of the Bhilai-headquartered company will be listed on the National Stock Exchange’s Small and Medium Enterprise (SME) platform — NSE Emerge.
The Chattisgarh-based company has ongoing projects worth more than Rs 720 crore. Investors can apply for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter.
Affinity Global Capital Market Private Ltd is the sole lead manager to the public issue.
