Sheetal Universal IPO: Sheetal Universal Ltd's IPO, which opened for public subscription on Monday, closed on Wednesday, December 6. According to data available till 4:40 pm on the last day of offerings on Wednesday, the SME IPO received a whopping 178.20 times subscription, bids for 57,52,16,000 shares as against 32,28,000 shares.
The category meant for non-institutional investors received subscriptions 212.49 times, while the quota for retail investors (RIIs) was subscribed a whopping 127.80 times.
The price of Sheetal Universal SME's Rs 23.80-crore IPO has been set at Rs 70 per share.
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On the second day of bidding on Tuesday, the SME IPO received 20.54 times the subscription.
Sheetal Universal IPO GMP today
According to market observers, unlisted shares of Sheetal Universal Ltd were trading Rs 12 higher in the gray market compared to the issue price. The gray market premium or GMP of Rs 12 means the gray market expects a listing gain of 17.14 per cent from the public issue. The GMP is based on market sentiment and is constantly changing.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
Net Avenue Technologies' IPO is expected to list on NSE SME on December 9, while share allotment is expected to take place on December 7.
Sheetal Universal IPO Details
The IPO comprised a fresh issue of 32,28,000 shares for public subscription with a face value of Rs 10 each. The company set the price band for the IPO at Rs 70 per share.
For investors, the minimum lot size to register for the IPO is 2,000 shares. The minimum investment amount required for retail investors is Rs 1,40,000. The minimum investment size for HNI is 2 lots (4,000 shares) worth Rs 2,80,000.
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The proceeds from the issue will be used to finance capital expenditure, working capital requirements, general corporate purpose and to meet public issue expenditure.
Beeline Capital Advisors Pvt Ltd is the underwriter of Sheetal Universal's IPO while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Sheetal Universal IPO is Spread X Securities.
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The company's revenue stood at Rs 131.65 crore in FY23, while profit after tax was Rs 1.98 crore.
(Headline and story updated with latest data)
Mohammad HarisHaris is Deputy News Editor (Business) at news18.com. He writes on various topics…Read more
first published: December 06, 2023, 09:57 IST
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