Check Eppeltone Engineers IPO GMP, Day 2 Subscription Status, Price Band And More

Eppeltone Engineers Ltd., which launched its initial public offering (IPO) on Monday, received a robust response from investors as the SME issue was booked 8 times on Day 1. Eppeltone Engineers aims to raise nearly Rs 44 crore from the primary market. The NSE SME IPO, comprising entirely a fresh issue of 34.34 lakh shares, will close for bidding on June 19.

Established in 1977, the company produces electronic energy meters, smart meters, and power conditioning equipment like chargers and UPS systems.

As the subscription for the IPO resumes on Wednesday, here's all you need to know about the Eppeltone Engineers IPO, including the latest subscription status, GMP today, important dates, price band, offer size, and more.

Eppeltone Engineers Ltd. aims to raise Rs 43.96 crore from the primary market through its IPO. The price band for the IPO has been set at Rs 125 to Rs 128 per share. 

Retail investors can participate in the IPO subscription by applying for at least 1,000 shares, requiring a minimum investment of Rs 1,25,000.

Of the 24,56,000 shares on offer for the investors

• 6,52,000 (26.55%) are allocated to Qualified Institutions

• 4,90,000 (19.95%) are allocated to Non-Institutional Buyers

• 11,42,000 (46.50%) are allocated to Retail Investors

Expert Global Consultants Pvt. is serving as the book-running lead manager for the Eppeltone Engineers IPO. Skyline Financial Services Pvt. has been appointed as the registrar, while Prabhat Financial Services Ltd. will act as the market maker for the issue.

The IPO has been subscribed 27.57 times as of 11:30 am on Wednesday

• Qualified Institutions: 2.26 times

• Non-Institutional Buyers: 25.61 times

• Retail Investors: 42.87 times

*Subscription status will be updated on a regular basis.

According to Investorgain, the latest GMP for Eppeltone Engineers IPO stood at Rs 58 on June 18. The GMP indicates an estimated listing price of Rs 186 per share, compared to the upper band of the issue price of Rs 128 apiece. Shares of Eppeltone Engineers are expected to be listed on the NSE SME platform at a premium of 45.31%, as per the GMP.

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

The share allotment status for Eppeltone Engineers IPO is likely to be finalised on Friday, June 20. The company will initiate refunds and transfer of shares to the Demat accounts on June 23.

Shares of Eppeltone Engineers Ltd. are scheduled to be listed on the NSE SME platform, Emerge, on June 24.

Eppeltone Engineers plans to use Rs 30 crore (68.24%) from the IPO proceeds to meet working capital needs. Additionally, about Rs 5 crore (11.37%) will be allocated for capital expenditure. The remaining porting of the IPO funds will be utilised for other business needs.

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.