Rekha Rakesh Jhunjhunwala backed Inventurus Knowledge Solutions IPO got off to a flying start on its third and final day of bidding, with the issue receiving 3.57 times more subscriptions than available shares, as of now. According to the stock exchange data, the investors bid for 3.7 crore shares against the 1.03 crore shares available for sale.
The IPO saw strong demand from several investor groups. Given below is the list:
- Retail investors: 5.8 times of their allocated shares.
- Non-institutional investors: 5.4 times their allocated shares.
- Qualified Institutional Buyer (QIBs): 1.9 times of their allocated shares.
- Employee quota was subscribed 2.59 times.
Inventurus Knowledge Solutions IPO: GMP
The grey market premium (GMP) for Inventurus Knowledge Solutions’ IPO has dropped to Rs 406, down from Rs 425 on Friday, suggest market sources. Based on the upper price band of Rs 1,329 and the latest GMP of Rs 406, the expected listing price of the stock is Rs 1,735, which represents a 30% premium over the issue price.
Other Details
- The Rs 2,498-crore IPO consists of 1.88 crore shares, all of which are offer for sale.
- The company may finalize the share allotment for the IPO by December 17.
- Furthermore, the company may list on both the BSE and NSE on December 19.
- The company won’t receive any funds from the IPO.
- All the money raised (after deducting expenses) will go directly to the shareholders selling their shares.
- Today, December 16, is the last day to apply for the IPO.
- The company priced the shares between Rs 1,265 and Rs 1,329 apiece.
- Inventurus Knowledge Solutions has already secured Rs 1,120 crore from anchor investors.
(Disclaimer: This article is for informational purposes only and should not be construed as an investment advice. Prior to making an investment, conduct thorough research and consult with your financial advisor.)
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