QVC Exports IPO Fully Subscribed on Day 1: Retail Investors Flock In; Check GMP, Subscription Status, and Key Details

The QVC Exports IPO started on Wednesday, August 21, and will end on Friday, August 23. Each share is priced at ₹86, with a face value of ₹10. Investors can bid for a minimum of 1,600 shares.

IPO Details

The company has set aside shares for different types of investors:

• Non-Institutional Investors (NII): Up to 13,28,000 shares
• Retail Individual Investors (RII): Up to 13,29,600 shares
• Market Maker: Up to 1,40,800 shares

QVC Exports deals with ferro alloys and raw materials used in steel production. They buy and sell materials like manganese ore, chrome ore, and coke, and their products are used in steel manufacturing. They also export their products to several countries, including Taiwan, Japan, and the UK.

Subscription Status

On the first day, the IPO has been fully subscribed 4.08 times. The retail portion was oversubscribed 7.12 times, while the NII portion was subscribed 1.03 times. As of 2:25 PM, bids were received for 1,08,43,200 shares out of the 26,57,600 shares available.

IPO GMP Today

The grey market premium (GMP) for QVC Exports IPO is ₹65. This means the shares are currently trading at a premium of ₹65 in the grey market. With this premium, the estimated listing price for QVC Exports shares is expected to be ₹151, which is 75.58% higher than the issue price of ₹86.

IPO Management

The IPO includes a fresh issue of shares worth ₹17.63 crore and an offer-for-sale (OFS) of ₹6.44 crore by the promoter. The funds raised will be used to repay unsecured loans and meet working capital needs.

The registrar for the IPO is Cameo Corporate Services Limited, while Khandwala Securities Limited is the book-running lead manager. Aftertrade Broking is the market maker.

This strong initial demand and significant GMP suggest a promising listing for QVC Exports