Sati Poly Plast’s IPO, which opened on July 12, 2024, has seen strong interest from investors, being subscribed over 136 times by the end of day 2. The Grey Market Premium (GMP) has also increased from ₹70 on the first day to ₹105 on the second day. Investors can subscribe to the IPO until Tuesday, July 16.
Sati Poly Plast IPO Subscription Status
As of 5:00 PM on July 15, 2024, the IPO had been subscribed 136.65 times, according to Chittorgarh.com. It was subscribed 219.36 times in the retail category, 0.02 times in the Qualified Institutional Buyers (QIB) category, and 125.75 times in the Non-Institutional Investors (NII) category.
Key Dates and Investment Details
- Subscription Period: July 12, 2024, to July 16, 2024
- Allotment Date: Expected on Thursday, July 18, 2024
- Listing Date: Expected on Monday, July 22, 2024
- Price Band: ₹123 to ₹130 per share
- Minimum Investment:
- Retail Investors: 1,000 shares, or ₹130,000
- High Net Worth Individuals (HNI): 2,000 shares, or ₹260,000
Objective of the Issue
The IPO aims to raise ₹17.36 crore through the issuance of 1,335,000 equity shares at ₹10 each. The funds will be used for working capital needs and general corporate purposes.
Lead Managers and Registrars
- Book Running Lead Manager: Beeline Capital Advisors Pvt Ltd
- Registrar: Link Intime India Private Ltd
- Market Maker: Spread X Securities
Grey Market Premium (GMP)
The current GMP for Sati Poly Plast’s IPO is ₹105, indicating a strong demand. Based on the upper end of the price band and the GMP, the estimated listing price is ₹235 per share, which is 80.77% higher than the IPO price of ₹130. The GMP represents the extra amount investors are willing to pay over the issue price.
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