The initial public offering (IPO) of Shiv Texchem is seeing strong interest from investors on its second day of bidding. As of 1:55 pm on October 9, the IPO was subscribed 7.67 times across all investor categories, showing great momentum.
Retail investors were the most active, with their portion subscribed 9.94 times. Non-institutional investors (NII) followed closely with 8.32 times subscription, while qualified institutional buyers (QIB) subscribed 3.22 times.
ADVERTISEMENT
Be part of our community by downloading and registering on the Angel One app. Your support helps us keep delivering quality content.
In total, 40,60,800 shares were available, but investors placed bids for 3,11,60,000 shares, worth ₹517.26 crore, according to data from Chittorgarh.com.
Subscription Breakdown:
- Retail Investors: Subscribed 9.94 times
- Non-Institutional Investors (NII): Subscribed 8.32 times
- Qualified Institutional Buyers (QIB): Subscribed 3.22 times
- Overall Subscription: 7.67 times
Shiv Texchem IPO Details:
Shiv Texchem aims to raise ₹101.35 crore by issuing 61.06 lakh new shares. The bidding period began on October 8 and will close on October 10, 2024. The price range for the shares is set between ₹158 and ₹166, with a minimum investment of ₹1,32,800 for retail investors (800 shares). For high-net-worth individuals (HNIs), the minimum investment is ₹2,65,600 (1,600 shares).
Grey Market Premium:
As of October 9, the grey market premium (GMP) for Shiv Texchem stands at ₹40. Based on the highest price of ₹166, the expected listing price is around ₹206, which could mean a potential gain of about 24.1% per share.
Listing and Allotment:
The allotment of shares for the Shiv Texchem IPO is expected to be finalised on October 11. The company plans to list on the BSE SME platform on October 15.
Lead Manager and Registrar:
Vivro Financial Services Private Limited is the lead manager for the IPO, with Link Intime India Private Ltd as the registrar, and Rikhav Securities acting as the market maker.
Promoters and Anchor Investors:
Shiv Texchem’s promoters include Vikas Pavankumar, Hemanshu S Chokhani, Pavankumar Sanwaria Realty Private Limited, and Hemanshu Syntex Private Limited. The company has already raised ₹28.87 crore from anchor investors, and 50% of the shares allocated to them will be locked in for 30 days.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
ADVERTISEMENT
Angel One gives free daily stock tips and detailed research on their mobile app. With easy risk management, you can improve your experience and increase your stock market investments.
