Vivaa Tradecom IPO: The initial public offering (IPO) of Vivaa Tradecom Ltd, the readymade garment manufacturer, opened for public subscription today, September 27. Vivaa Tradecom’s IPO is an SME IPO and will close on October 4th.
Vivaa Tradecom is a clothing and apparel manufacturer and retailer. The company’s product list includes denim fabrics as well as ready-made garments such as denim and cotton jeans for men and women.
The company also undertakes cotton printing work and deals in printed cotton fabrics.
Let’s take a look at Vivaa Tradecom’s IPO subscription status, GMP and other important details:
Vivaa Tradecom IPO Subscription Status
Vivaa Tradecom’s IPO was 43% subscribed so far on Friday, the third day of the bidding process. The public issue saw bids for 6.44 lakh shares against 14.84 lakh shares, as per data available till 4:15 pm.
The IPO was recorded 81% in the Retail category and 1% in the Non-Institutional Investors (NII) category.
Also Read: Goyal Salt IPO Day 4: Issue subscribed 101 times so far; Retail share booked over 164x
Vivaa Tradecom IPO GMP today
Vivaa Tradecom IPO GMP today or gray market premium today ₹0 per share, according to market observers. This indicates that Vivaa Tradecom shares are trading at their issue price of ₹51 each with no extra charge or discount on the gray market.
Vivaa Tradecom IPO details
Vivaa Tradecom’s IPO opened for subscription on September 27 and closes on October 4. The company is expected to finalize the allotment of IPO shares on October 9 and initiate refund on October 10, while the shares will be credited to allottees on October 11.
The shares of Vivaa Tradecom are scheduled to be listed on the BSE SME on October 12, 2023.
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The IPO price range of Vivaa Tradecom is at ₹51 per share. The size of the IPO issue is ₹7.99 crore, which is a pure fresh issue of shares worth ₹15.66 lakh. The nominal value of each share is ₹10 each.
The lot size for the IPO is 2,000 shares and the minimum investment amount required from private investors is ₹102,000.
The company has reserved 7.42 lakh shares or 47.38% of the total shares for retail investors while another 47.38% shares are reserved for non-institutional investors (NII) in the IPO.
Also Read: Saakshi Medtech IPO allotment and panels completed: GMP, here is how to check allotment status
Vivaa Tradecom IPO Lead Manager, Registrar: Interactive Financial Services is the lead manager of the issue while Bigshare Services Pvt Ltd is the IPO registrar.
The Company intends to use the net proceeds from the offering to fund working capital requirements and for general corporate purposes.
Read all the news about the IPO here
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