Effwa Infra & Research IPO Surges Over 9x on Day 1; Check GMP, Price Band, and Key Details! | Stock Market News

The initial public offering (IPO) of Effwa Infra and Research Ltd saw strong demand and was heavily oversubscribed on its first day. This SME IPO opened for bidding on July 5 and will remain open until July 9. Effwa Infra & Research is a company that provides engineering, consulting, procurement, construction, and integrated project management services.

Effwa Infra and Research IPO Subscription Status

On the first day, the Effwa Infra & Research IPO was subscribed 9.33 times. As of 1:50 pm, bids were placed for 41.79 lakh shares against the 3.89 crore shares on offer. The retail category was subscribed 16.35 times, while the Non-Institutional Investors (NII) category saw a 5.20 times subscription.

Effwa Infra IPO GMP

The grey market premium (GMP) for Effwa Infra IPO today is ₹90 per share, indicating that the shares are trading at ₹172 apiece in the grey market. This is a 109.76% premium to the issue price of ₹82 per share.

Effwa Infra and Research IPO Details

The Effwa Infra and Research IPO will close on July 9. The IPO allotment is expected to be finalized on July 10, with the listing date set for July 12 on the NSE SME.

The price band for the Effwa Infra IPO is set at ₹78 to ₹82 per share. At the upper end of the price band, the company aims to raise ₹51.27 crore. This includes a fresh issue of 53.17 lakh equity shares worth ₹43.60 crore and an offer-for-sale (OFS) of 9.36 lakh shares worth ₹7.68 crore.

Before the IPO opened, Effwa Infra and Research raised ₹14.34 crore from anchor investors.

Key Details

• IPO Lot Size: 1,600 shares
• Minimum Investment Amount for Retail Investors: ₹131,200
• Book Running Lead Manager: Shreni Shares Limited
• IPO Registrar: Bigshare Services Pvt Ltd