Pritika Engineering IPO: GMP, Subscription Status, Listing Date, Other Important Details | Markets News

The IPO of Pritika Engineering Components Limited went public for subscription on November 25th. Pritika Engineering Components is a wholly owned subsidiary of Pritika Auto Industries and the proprietary unit of the Pritika Group of Industries. Pritika Engineering’s IPO opened on November 25th and closes on November 30th. The company intends to raise Rs 9.42 crore through the IPO. The company has set a price range of Rs 29 with a market lot of 4000 shares.

Pritika Engineering IPO GMP today

According to various reports, Pritika Engineering’s IPO on the stock exchange demanded a Gray Market Premium (GMP) of Rs 10 per share.

Pritika Engineering IPO subscription status

According to data available on the NSE website for the Pritika Engineering IPO, the qualified institutional buyers (QIBs) shares received 12,16,000 bids, while the non-institutional investors category received 12,16,000 bids and the retail investors (RIIs) category received Rs 66 received 28,000 bids. A total of 87,64,000 bids were received for the IPO. The Pritika Engineering Components IPO was drawn 2.84 times on Friday. The retail category was drawn 4.30 times while the NII category was drawn 1.39 times.

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Pritika Engineering IPO allocation and listing date

Pritika Engineering’s IPO will be allotted on December 5th while the IPO date is December 8th. Individual investors can apply for up to 1 lot (4000 shares or Rs 116,000).

IPO of Pritika Engineering: business model

Pritika Engineering manufactures custom parts for tractors, utility vehicles and other construction machinery. Its manufacturing facility is in Punjab and its customers include Ashok Leyland, Eicher and Mahindra. The company’s total revenue in 2021-22 was Rs. 5,739.58 lakhs.

The Company plans to use the IPO process to establish a new entity wholly owned subsidiary Meeta Castings Limited (MCL) and for general corporate purposes.