Travels & Rentals IPO: Day 1 Highlights – Subscription Status, GMP, Key Dates & More You Need to Know

The Travels & Rentals IPO opened for subscription on August 29, 2024, and will remain open until September 2, 2024. Here’s everything you need to know about the subscription status, Grey Market Premium (GMP), key dates, and more.

Subscription Status

On the first day, the Travels & Rentals IPO received 3.97 times more subscriptions than available shares. Specifically, the retail category was subscribed 7.01 times, the Non-Institutional Investors (NII) category 0.92 times, while there were no subscriptions in the Qualified Institutional Buyers (QIB) category by 5:30 PM on August 29, 2024.

Key Dates and Details

• Subscription Period: August 29, 2024 – September 2, 2024
• Allotment Date: September 3, 2024
• Tentative Listing Date: September 5, 2024, on the BSE SME
• IPO Price: ₹40 per share
• Minimum Investment:
  • Retail Investors: 3000 shares, totaling ₹120,000
  • HNIs: 6000 shares (2 lots), totaling ₹240,000

Objectives of the IPO

The Travels & Rentals IPO aims to raise ₹12.24 crore through the issuance of 30.6 lakh new shares. The proceeds will be used to meet the company’s working capital needs and for general corporate expenses.

Grey Market Premium (GMP)

As of Tuesday, the Grey Market Premium for the Travels & Rentals IPO was ₹14. This means that shares were trading at ₹14 above the issue price of ₹40 in the grey market, indicating a potential listing price of ₹54 per share, which is 35% higher than the IPO price.