Chavda Infra’s IPO opens for subscription on Tuesday, September 12 and closes on Thursday, September 14. The price range for Chavda Infra’s IPO has been fixed in the range between ₹60 tonnes ₹65 per share of par value ₹10 each. The lot size of Chavda Infra IPO is 2,000 shares and thereafter in multiples of 2,000 shares.
Chavda Infra IPO details
The IPO of Chavda Infra, which is worth it ₹43.26 crore, is an all-new issue of 6,656,000 shares; There is no offer-to-sale (OFS) component.
The Company plans to use the net proceeds from the offering to fund general corporate needs, working capital requirements and public offering expenses.
Mahesh Gunvantlal Chavda, Dharmishtha Maheshkumar Chavda and Johil Maheshbhai Chavda are the promoters of the company.
Chavda Infra IPO has reserved not more than 50% of the shares of the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional investors (NII) and not less than 35% of the offer is reserved for qualified institutional buyers Private investors.
The underwriter of the issue is Beeline Capital Advisors Pvt Ltd while the IPO registrar of Jiwanram Sheoduttrai Industries is Kfin Technologies Ltd.
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Under residential, commercial and institutional projects in Gujarat, Chavda Infra Limited provides construction and related services.
Chavda Infra is a member of the Chavda Group, which includes the companies Chavda Infra, Chavda RMC and Chavda Developers. These companies provide services in the cities of Ahmedabad, Gandhinagar and Rajkot.
The company’s listed industry peers are PSP Projects Ltd and Ahluwalia Contracts (India) Ltd.
Chavda Infra IPO Dates
The allotment of Chavda Infra’s IPO shares will take place on Wednesday, September 20. The allotted shares will be credited to their demat accounts on Friday, September 22. The refund process for those who did not receive shares begins on Thursday, September 21st. Jiwanram Sheoduttrai Industries IPO shares will be listed on the NSE SME on Monday, September 25.
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Chavda Infra IPO GMP today
Today’s Chavda Infra IPO GMP or gray market premium is +40 higher than the previous trading session which was +30. This suggests that Chavda Infra share price was trading at a premium of ₹40 on the gray market on Friday, according to topsharebrokers.com
Taking into account the upper end of the IPO price range and the current gray market premium, the estimated listing price of Chavda Infra shares is ₹105 per piece, which is 61.54% higher than the IPO price of ₹65
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Today, GMP’s IPO is showing an upward trend and is expected to have a strong listing. The lowest GMP is ₹20, while the highest is GMP ₹40, according to topsharebrokers.com
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
Review of Chavda Infra IPO
“The company is doing well and has a good order backlog. Based on FY23, the issue price is reasonable. There are ongoing projects worth Rs. 601 Cr. at hand. “Investors may consider parking funds to achieve medium to long-term benefits,” said Dilip Davda, editor at Chittorgarh.com.
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