Shubhshree Biofuels Energy IPO subscribed 2.99 times on day 1, check details | Stock Market News
Source: Live Mint
Shubhshree Biofuels Energy Limited’s initial public offering (IPO), through a book-building process, offers a fresh issue of equity shares, opened for subscription on September 9. The public offer was oversubscribed 2.99 times. Investors bid for 24.67 lakh shares compared to the 8.96 lakh shares available.
The retail investors subscribed to the public issue the most, 5.19 times their allotted portion on the first day. The non-institutional investors (NIIs) followed the retail investors and subscribed to the IPO 1.39 times on top of their allotted portion. The qualified institutional buyers (QIBs) did not subscribe to the public offer on Day 1, according to the National Stock Exchange (NSE) IPO data.
The Shubhshree Biofuels Energy IPO subscription opened on Monday, September 9, and closes on Wednesday, September 11. The IPO’s price band has been set at ₹113 to ₹119 per equity share, with a face value of ₹10 per share. The public issue raised ₹4.684 crore from its anchor investor round. Shubhshree’s public issue has set the lot size at 1,200 shares.
Shubhshree Biofuels Energy IPO GMP today
As of September 9, Shubhshree Biofuels Energy IPO’s grey market premium (GMP) is ₹0. Grey market premium (GMP) is the investor’s willingness to pay more on top of the issue price.
The company’s price band is at the upper level of ₹119, and Shubhshree Biofuels Energy’s IPO’s estimated listing price is ₹119, according to investorgain.com. The public issue is expected to list at a gain/loss of zero per cent.
Shubhshree Biofuels Energy IPO details
Shubhshree Biofuels Energy Limited supplies biomass fuels, including biomass pellets and briquettes, to customers in the recycled material, textile processing, pharmaceutical, and metal sectors.
The public issue offers a fresh issue of 13,92,000 or 13.92 lakh equity shares at a face value of ₹10 per share. The IPO offers 17.17 per cent to Qualified Institutional Buyers (QIB), 34.01 per cent to Non-institutional investors, and 28.9 per cent to retail investors, as per data from Chittorgarh’s website.
