Iware Supplychain IPO Fully Subscribed On Day 3: Check GMP, Price Band, Allotment Date

The initial public offering of Iware Supplychain Services Ltd. sailed through on the third day of bidding, on April 30, led by strong retail demand.

Iware Supplychain Services IPO was booked 1.46 times on the last day of subscription on Wednesday.  It was subscribed 0.4 times on the first day and 0.91 times on the second day.

The company is in the business of providing pan-India logistics for services such as warehousing. It aims to raise Rs 27.13 crore through the NSE SME offer.

The IPO opened for subscription on April 28.

Here’s everything you need to know about the Iware Supplychain Services IPO:

The price for the IPO has been set at Rs 95 per equity share. The company aims to raise Rs 27.13 crore from an entirely fresh issue of 28.56 lakh shares.

Retail investors can apply for at least a single lot size of 1,200 shares with a minimum investment of Rs 1,14,000. High Net-Worth Individuals (HNIs) can invest with a minimum lot size of 2,400, amounting to Rs 2,28,000.

Of the 28,56,000 shares on offer -- 13,56,000 (47.48%) is allocated to Non-Institutional Investors, 13,56,000 (47.48%) is allocated to Retail Investors.

GetFive Advisors Pvt. is the book-running lead manager of the Iware Supplychain Services IPO. Kfin Technologies Ltd. is the registrar for the issue and SMC Global Securities Ltd. is the market maker for the IPO.

The IPO has been subscribed 1.46 times as of 1:55 PM on April 30.

• Non-Institutional Investors (NIIs): 0.96 times or 96%

• Retail Investors: 1.96 times

According to InvestorGain, the grey market premium (GMP) for the IPO stood at Rs 0 on April 30 at 12 PM. It indicates a potential flat listing for the company’s shares on the NSE SME platform, Emerge.

Note: GMP does not represent official data and is based on speculation.

The subscription window for the IPO will close on Wednesday. The allotment status is expected to be finalised by May 2. The company will initiate the transfer of shares to the Demat accounts of successful bidders on May 5. Refunds to non-allottees will also be done on the same day.

Shares of the Iware Supplychain Services IPO are scheduled to be listed on the NSE SME platform on May 6.

Use of Proceeds

The company has proposed to use the proceeds from the IPO to fund the capital expenditure requirements, working capital requirements and general corporate purposes.

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.