M.V.K. Agro Food IPO: The initial public offering of small and medium-sized enterprise M.V.K. Agro Food Product Ltd, which is going to be closed on Monday, has received over 5 times subscription.
Read More: Adani Ports shares hit record high as cargo volumes surge
Till 12:30 pm on the final day of bidding on Monday, the Rs 65.88-crore SME IPO has received a 5.23 per cent subscription garnering bids for 2,72,82,000 shares as against 52,15,200 shares on offer.
The retail quota has received 8.74 times subscription, while the non-institutional investor (NII) category has been subscribed 1.72 times.
The price of the M.V.K. Agro Food IPO, which was opened for public subscription on February 29, has been fixed at Rs 120 per share.
The allotment of the IPO will take place on March 5, while its listing will take place on the NSE SME on March 7, 2024.
Read More: Bitcoin inches closer to all-time high. What’s driving the rally?
M.V.K. Agro Food IPO GMP Today
According to market observers, unlisted shares of M.V.K. Agro Food Product Ltd are trading Rs 5 higher in the grey market as compared with its issue price. The Rs 5 grey market premium or GMP means the grey market is expecting a 4.17 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.
M.V.K. Agro Food IPO Details
M.V.K. Agro Food IPO is entirely a fresh issue of 54.9 lakh shares. The price of M.V.K. Agro Food IPO is Rs 120 per share.
Investors can apply for a minimum of one lot comprising 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,44,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,88,000.
Read More: BHEL Shares Rallies 14% to Hit 52-Week High; Know Why It Is Rising Today?
Horizon Management Private Limited is the book-running lead manager of the M.V.K. Agro Food IPO, while Mas Services Limited is the registrar for the issue. The market maker for M.V.K. Agro Food IPO is Nikunj Stock Brokers.
