Euro Pratik Sales IPO: Check Day 2 Subscription Status, GMP, Other Details

Euro Pratik Sales Ltd.'s initial public offering entered its second day of subscription on Wednesday. A prominent player in the decorative wall panel industry, Euro Pratik Sales IPO was subscribed 0.43 times on its first on Tuesday.

The initial public offering to raise over Rs 450 crore, is a book-building issue worth Rs 451.31 crore that comprises entirely an offer-for-sale of 1.83 crore shares. The price band for the IPO has been set between Rs 235 and Rs 247 per share.

Investors can participate in the Euro Pratik Sales IPO subscription from Sept. 16 to Sept. 18. The allotment of shares is proposed to be finalised on Sept. 19.

To participate in the IPO, retail investors need to bid for a single lot size of 60 shares, requiring an investment of Rs 14,820. Small Non-Institutional Investors need to bid for 14 lots, amounting to a minimum investment of Rs 2,07,480. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to a minimum investment of Rs 10,07,760.

The company raised Rs 134.97 crore from anchor investors on Sept.15, ahead of its initial public offering. The company allotted 54.6 lakh shares at Rs 247 apiece to 10 anchor investors.

Shares of Euro Pratik Sales are tentatively scheduled to be listed on the BSE and NSE on Sept. 23.

Axis Capital Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue.