The initial public Offering (IPO) of Infinity Infoway concluded its subscription period on Friday with an overall subscription of 258.46 times. Non-institutional investors led the charge, subscribing 397.06 times, followed by retail investors who booked 303.23 times the number of shares on offer. Qualified Institutional Buyers booked their quota 157.14 times.
The allotment status for Infinity Infoway IPO will be finalised on Monday, October 8.
Infinity Infoway Ltd. IPO is a book build issue of Rs 24.42 crores. The issue is entirely a fresh issue of 0.16 crore shares of Rs 24.42 crore. The price band for the SME IPO was Rs 147 to Rs 155.
The grey market premium for the Infinity Infoway IPO has gained since the SME issue opened for subscription last week. Current GMP suggests an expected listing gain of upto 32 when shares of Infinity Infoway list on the market this week.
Investors who bid for the SME issue can check thier allotment status on the websites of BSE and Bigshare Services.
Here's all you need to know about the Infinity Infoway Ltd. IPO including the latest GMP and step-by-step guide to verify allotment status.
Infinity Infoway IPO Latest GMP
The latest grey market premium (GMP) for Infinity Infoway IPO was Rs 50, as of 8:30 a.m. on October 6. Considering today's GMP (Rs 50) and issue price (Rs 155), shares of Infinity Infoway Limited are expected to list on the BSE SME at Rs 205 apiece.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation. GMP data sourced from InvestorGain.
Steps to check Infinity Infoway IPO allotment status on BSE:
Visit the IPO allotment page on the BSE website here: https://www.bseindia.com/investors/appli_check.aspx
Select 'Equity'.
Select the issue name 'Infinity Infoway Limited' in the dropdown list.
Enter PAN details or Application Number.
Fill in the captcha details
Click on the 'Search' button to verify your share allotment status.
Steps to check Infinity Infoway IPO allotment status on Bigshare Services:
Visit the IPO allotment page on the Bigshare Services website here: https://www.bigshareonline.com/ipo_allotment.html
Select any one server to check your IPO Allotment Status.
Select the company name 'Infinity Infoway Limited' from the dropdown list on the IPO allotment status page.
Enter the investor PAN Number or Application/CAF Number or DP/Client ID.
Fill in the captcha details.
Click on the Search button to verify your share allotment status.
Shares of Infinity Infoway will be credited to the Demat account of successful bidders on October 7, and refunds will also take place on the same day for non-allottees.
Shares of Infinity Infoway are tentatively scheduled to be listed on the BSE SME platform on October 8.
Use of IPO Proceeds
The company will utilise the proceeds for the Development of the product ZEROTOUCH device as a Service (“DaaS”) and the purchase of new IT infrastructure and certification. The proceeds will also be used for funding of Tender Deposits and Earnest Money Deposits (EMD) towards Tenders as well as for the incremental working capital Requirements of the company.
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