Falcon Technoprojects India’s IPO began today, June 19, 2024, and by 5 PM, it had been subscribed 2.15 times. This strong start shows significant interest from investors.
Subscription Status
As of 5 PM today:
- The retail portion was subscribed 3.81 times.
- The non-institutional investors (NII) category was subscribed 0.49 times.
- The qualified institutional buyers (QIB) category has not yet seen any subscriptions.
Key Dates
- Opening Date: June 19, 2024
- Closing Date: June 21, 2024
- Allotment Date: June 24, 2024
- Listing Date: June 26, 2024 (on NSE SME)
IPO Details
- Price: ₹92 per share
- Lot Size: Minimum 1,200 shares
- Retail Investment: Minimum ₹110,400
- HNI Investment: Minimum ₹220,800 (2 lots)
- Total Issue Size: 1,488,000 shares, raising up to ₹13.69 crore.
- Retail Portion: 50% of the net offer.
Objectives of the Issue
The IPO aims to raise funds primarily for:
- Working capital needs.
- General corporate purposes.
Registrar and Lead Managers
- Lead Manager: Kunvarji Finstock Pvt Ltd.
- Registrar: KFin Technologies Ltd.
Grey Market Premium (GMP)
The GMP for Falcon Technoprojects India IPO is currently ₹23 per share. This means that in the grey market, Falcon shares are being valued at ₹115 each, a 25% premium over the issue price of ₹92.
Falcon Technoprojects India’s IPO has shown promising interest on its first day, with strong retail investor participation and positive grey market sentiments.
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