Dar Credit and Capital which launched its initial public offering (IPO) on May 21, closed for subscription today, on May 23. The company aims to raise over Rs 25 crore from the primary market.
On its final day of bidding, the SME IPO received a fantastic response from the investors as the issue was booked 106.09 times. The demand for the issue was led by non-institutional investors who subscribed 208.45 times followed by retail investors who subscribed 104.88 times. Qualified Institutional investors subscribed the issue 31.29 times.
As bidding concludes on Day 3, here's all you need to know about Dar Credit And Capital IPO, including its latest GMP, allotment date, and more.
Dar Credit and Capital IPO: All You Need To Know
Dar Credit and Capital IPO is a book-building IPO worth Rs 25.66 crore. The NSE SME issue entirely comprises a fresh issue of 42.76 lakh shares.
The price band for the NSE SME issue was set between Rs 57 to Rs 60 per share.
Of the total 42,76,000 shares on offer:
8,12,000 (18.99%) are allocated to Qualified Institutional investors
6,10,000 (14.27%) are allocated to Non-Institutional buyers
14,22,000 (33.26%) are allocated to Retail investors
12,16,000 (28.44%) are allocated to Anchor investors.
Retail investors could invest in the IPO with a minimum lot size of 2,000 shares, requiring an investment of Rs 1,20,000.
GYR Capital Advisors Pvt. is the book-running lead manager of the Dar Credit and Capital IPO. Kfin Technologies Ltd. is the registrar and SMC Global Securities Ltd. is the market maker for the issue.
Dar Credit and Capital IPO GMP Today
According to Investorgain, the latest grey market premium (GMP) of the IPO was Rs 18 on Friday. This implies that the shares of the company will likely list at Rs 78 apiece, indicating a 30% premium to the upper end of the price band.
Note: GMP does not represent official data and is based on speculation.
Dar Credit and Capital IPO Allotment And Listing Dates
The Dar Credit and Capital IPO share allotment status is expected to be finalised on Monday, May 26.
The company is scheduled to process refunds and transfer the shares to the Demat accounts on Tuesday, May 27.
Shares of Dar Credit and Capital are proposed to be listed on the NSE SME platform on Wednesday, May 28.
Where To Check Dar Credit and Capital IPO Allotment Status
Once the allotment is finalised, investors can check their Dar Credit and Capital IPO share allotment status on thee websites of NSE and Kfin Technologies.
About Dar Credit And Capital
Dar Credit and Capital is a Non-Banking Finance Company (NBFC) that offers financial products such as personal loans and loans for Micro, Small and Medium Enterprises (MSMEs).
The proceeds from the IPO will be used for general corporate purposes and to increase the capital base of the company.
The company reported a 35.5% year-on-year rise in profit after tax (PAT) to Rs 3.97 crore in FY24 from Rs 2.93 crore in FY23. Revenue from operations rose 29.29% YoY to Rs 32.05 crore in FY24 from Rs 24.79 crore in FY23. For the nine months ended Dec. 31, 2024, its revenue from operations stood at Rs 30.08 crore and PAT at Rs 4.92 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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