Bondada Engineering IPO: The Bondada Engineering IPO will open for subscription on Friday, August 18th and close on Tuesday, August 22nd. Bondada’s IPO price range has been set at ₹75 per share with a par value of ₹10 bids can be submitted for a minimum of 1,600 shares and thereafter in multiples of 1,600 shares. The offering price for Bondada Engineering’s IPO is 7.5 times the par value of the shares.
Bondada’s IPO consists of a total of 56,96,000 new shares issued ₹42.72 crores. There is no OFS (Offer for Sale) component. According to the Company’s Red Herring Prospectus (RHP), the Company intends to use the gross proceeds from the offering for long-term working capital needs and for general corporate purposes.
The promoters of the company are Raghavendra Rao Bondada, Neelima Bondada and Satyanarayana Baratam.
The lead manager of Bondada Engineering’s IPO is Vivro Financial Services Private Ltd and the registrar is KFin Technologies Ltd.
Bondada Engineering Ltd is a Hyderabad based infrastructure company serving clients across India in the Telecom and Solar Energy industries by providing Engineering, Procurement and Construction (EPC) and Operations and Maintenance (O&M) services.
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Bondada Engineering’s IPO subscription status has been 70% so far on day one. According to data on chittorgarh.com, the issue received positive reception from retail investors, whose share rate was subscribed 1.35 times, and non-institutional buyers, whose share rate was subscribed at 4%.
According to data from chittorgarh.com as of 18:24 IST the company has received offers for 37,65,000 shares versus 5,696,000 shares offered.
Also read: Pyramid Technoplast IPO: Pyramid IPO fully booked, subscribed 1.61 times on the first day
Bondada Engineering IPO GMP today
Bondada Engineering Limited IPO-GMP or gray market premium was +20 on Friday, similar to the previous two trading sessions. This suggests that Bondada’s share price was trading at a premium of ₹20 in the gray market on Friday, according to topsharebrokers.com
Taking into account the high end of the IPO price range and the current gray market premium, the estimated listing price of Bondada stock is ₹95 per piece, which is 26.67% higher than the IPO price of ₹75
Bondada Engineering IPO GMP on Tuesday was ₹10
“Grey market premium” indicates the willingness of investors to pay more than the issue price.
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