The Sati Poly Plast IPO, which opened for subscription on July 12, 2024, received a strong response. By the end of the first day, the issue was subscribed over 21 times. Investors can subscribe to the IPO until Tuesday, July 16.
Subscription Status
As of 5 PM on July 12, 2024, the Sati Poly Plast IPO was subscribed 21.57 times. According to Chittorgarh.com:
- Retail category: 36.83 times subscribed
- QIB (Qualified Institutional Buyers) category: 0.00 times subscribed
- NII (Non-Institutional Investors) category: 14.73 times subscribed
Key Dates and Investment Details
- Subscription Period: July 12 to July 16, 2024
- Allotment Date: Expected on July 18, 2024
- Listing Date: Expected on July 22, 2024
The price range for the IPO is ₹123 to ₹130 per share. Investors need to apply for a minimum lot size of 1,000 shares, which requires a minimum investment of ₹130,000 for retail investors. High Net-worth Individuals (HNIs) need to invest in at least two lots, or 2,000 shares, amounting to ₹260,000.
Objective of the IPO
The ₹17.36 crore IPO involves issuing 1,335,000 equity shares at a face value of ₹10 each. There is no offer for sale component. The funds raised will be used for working capital needs and general corporate purposes.
IPO Managers and Market Makers
- Lead Manager: Beeline Capital Advisors Pvt Ltd
- Registrar: Link Intime India Private Ltd
- Market Maker: Spread X Securities
Grey Market Premium (GMP)
The current Grey Market Premium (GMP) for Sati Poly Plast IPO is +₹70. This means the shares are selling at a ₹70 premium in the grey market. Considering the upper end of the IPO price band and the current GMP, the estimated listing price is ₹200 per share, which is 53.85% higher than the IPO price of ₹130. The GMP indicates the extra amount investors are willing to pay over the issue price.
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