Unlisted shares of Subam Papers Ltd are trading Rs 18 higher in the grey market, signalling a 11.84 per cent listing gain from the public issue.
Subam Papers IPO: The initial public offering of Subam Papers Ltd is going to be closed today, Thursday. The price band of the Rs 93.70-crore SME IPO has been fixed at Rs 144 to Rs 152 per share for the public issue. Till 12:09 pm on the final day of bidding on Thursday, the SME IPO received a 14.59 times subscription garnering bids for 5,98,05,600 shares as against the 40,99,200 shares on offer.
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The category for non-institutional investors received 18.57 times subscription, while the portion for retail individual investors (RIIs) got subscribed 20.29 times. The QIB category received a 1.63 times subscription.
The IPO was opened on Monday, September 30.
Subam Papers IPO: Key Dates
The IPO is available for public subscription between September 30 and October 3. The share allotment of the Subam Papers IPO will likely be finalised on October 4, while its shares will be listed on the BSE SME on October 8.
Subam Papers IPO: Price Band
The price band of the Rs 93.70-crore SME IPO has been fixed at Rs 144 to Rs 152 per share for the public issue.
Subam Papers IPO: GMP Today
According to market observers, unlisted shares of Subam Papers Ltd are trading Rs 18 higher in the grey market than its issue price. The Rs 18 grey market premium or GMP means the grey market is expecting a 11.84 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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Subam Papers IPO: More Details
The Subam Papers IPO is entirely a fresh issue of 61.65 lakh shares.
Subam Papers IPO is open for subscription on September 30, 2024 and close today October 3, 2024. The allotment for the Subam Papers IPO is expected to be finalized on Friday, October 4, 2024. Subam Papers IPO will list on BSE SME with tentative listing date fixed as Tuesday, October 8, 2024.
Subam Papers IPO price band is set at ₹144 to ₹152 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹121,600. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹243,200.
Gretex Corporate Services Limited is the book running lead manager of the Subam Papers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Subam Papers IPO is Gretex Share Broking.
