Pratham EPC Projects IPO Day 3: The issue has been subscribed over 70 times in the last day so far; Check GMP, important details of SME IPO

Pratham EPC Projects IPO: The initial public offering (IPO) of Pratham EPC Projects is witnessing strong demand from investors as the issue has been oversubscribed so far.

The Pratham EPC Projects IPO is an SME IPO that opened for subscription on March 11. The tender for the public issue closes today, March 13th.

The company is an end-to-end service provider to oil and gas utilities in India and is planning to raise ₹36 crore from the public offer.

Let's check Pratham EPC IPO GMP, subscription status and other important details today.

Pratham EPC Projects IPO Subscription Status

The IPO of Pratham EPC Projects has been subscribed 70.09 times so far on Wednesday, the third and final day of the bidding process. The public issue received bids for 22.38 crore shares as against 31.93 lakh shares in the offer, according to data available till 11:30 am.

The Pratham EPC IPO has so far been subscribed 108.19 times in the Retail category, 1.35 times in the Qualified Institutional Buyer (QIB) category and 72.77 times in the Non-Institutional Investors (NII) category .

Also Read: JG Chemicals share price makes dismal D Street debut, shares open at 5.4% discount ₹209 each on NSE

Pratham EPC plans GMP IPO today

Pratham EPC Projects IPO GMP today, or gray market premium today, has come down to ₹70 per share, say market observers. This suggests that shares of Pratham EPC Projects are trading at a premium of over 93.33% ₹145 each in the gray market, compared to the IPO price of ₹75 per share.

Pratham EPC IPO details

The Pratham EPC Projects IPO opened on Monday, March 11 and closes today, March 13. The allotment of the IPO is expected to be completed on March 14 and shares of Pratham EPC Projects will be listed on the NSE SME. The provisional listing date is set March 18, 2024.

The IPO price range has been set at ₹71 to ₹75 per share. At the upper end of the price range is the IPO size of the Pratham EPC ₹36 crore. The IPO is entirely a fresh issue of shares worth Rs 48 lakh.

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The lot size of Pratham EPC Projects IPO is 1,600 shares and the minimum investment amount required from retail investors is ₹120,000.

The Company plans to use the issue proceeds for purchase of machinery, meeting working capital requirements and for general corporate purposes.

The underwriter of Pratham EPC Projects' IPO is Beeline Capital Advisors Pvt Ltd while the IPO registrar is Link Intime India Private Ltd. is.

Also Read: Pratham EPC Projects IPO price range is at ₹71 – 75 per share

About Pratham EPC Projects

Pratham EPC Projects executes gas pipeline projects and specializes in integrated engineering, procurement, construction and commissioning.

Nayankumar Pansuriya and Pratikkumar Vekariya are the promoters of the company. The promoter's shareholding in the company will come down from the current 100% to 72.97% after the IPO.

Pratham EPC Projects' net profit rose ₹7.64 crore in the financial year ended March 2023 of ₹4.41 crore in the previous year. The company's sales increased ₹51.67 crore in FY23 of ₹50.62 crore in FY22.

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