Unlisted shares of Owais Metal and Mineral Processing Ltd are trading Rs 120 higher in the grey market, expecting a 137.93 per cent listing gain from the public issue
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Owais Metal and Mineral IPO: The initial public offering of Owais Metal and Mineral Processing Ltd, which is going to be closed on February 28, has received a whopping response from investors. Till 11:54 am on the final day of bidding on Wednesday, February 28, the Rs 42.69-crore SME IPO received 77.94 times subscription, garnering bids for 24,90,40,000 shares as against 31,95,200 shares on offer.
The Owais Metal and Mineral IPO was opened for public subscription on February 26. The price band of the IPO has been fixed at Rs 83 to Rs 87 per share.
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The retail category has received 123.41 times subscription and the non-institutional quota got 69.96 times subscription. The QIB quota has been subscribed 4.24 times.
The allotment of the Owais Metal and Mineral IPO will take place on February 29, while its listing will take place on the NSE SME on March 4, 2024.
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Owais Metal and Mineral IPO GMP Today
According to market observers, unlisted shares of Owais Metal and Mineral Processing Ltd are trading Rs 120 higher in the grey market as compared with its issue price. The Rs 120 grey market premium or GMP means the grey market is expecting a 137.93 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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Owais Metal and Mineral IPO Details
The Owais Metal and Mineral Processing IPO is entirely a fresh issue of 49.07 lakh shares. Its price band is set at Rs 83 to Rs 87 per share.
The minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,39,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,78,400.
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Gretex Corporate Services Limited is the book-running lead manager of the Owais Metal and Mineral Processing IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Owais Metal and Mineral Processing IPO is Gretex Share Broking.
