Readymix Construction Machinery Ltd. went live with its IPO on Thursday and was subscribed 0.99 times on the opening day. The company, which operates in the construction equipment sector, aims to raise Rs 37.66 crore from the primary market.
On day two of bidding on Friday, the Readymix Construction Machinery IPO has been subscribed 1.49 times so far. Here is what interested investors must know before investing:
Readymix Construction IPO Details
IPO size: Rs 37.66 crore
Bidding dates: Feb. 6 to Feb. 10
Price band: Rs 121 to Rs 123
Lot size: 1000 shares
Minimum investment: Rs 1,21,000
Allotment date: Feb. 11
Listing date: Feb. 13
Registar: BigShare Services Pvt. Ltd.
Readymix Construction IPO Subscription Status: Day 2
The Readymix Construction IPO has been subscribed 1.61 times as of 4:30 p.m. on Feb. 7, as per market tracking site Chittorgarh.
Qualified Institutional Buyers: 1.96 times
Non-Institutional Buyers: 1.24 times
Retails Investors: 1.57 times
*The subscription status will be updated at regular intervals
Readymix Construction IPO GMP Today
Readymix Construction Machinery IPO GMP (grey market premium) was Rs 5 apiece as of 3:37 p.m. on Feb. 7, as per InvestorGain. This projects a potential listing gain of 4.07%, with the shares likely getting listed at Rs 128 apiece.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
About Readymix Construction Machinery
Multidisciplinary manufacturer and supplier Readymix Construction Machinery Ltd. caters to the construction equipment sector.
The company offers end-to-end turnkey solutions, including conceptualisation, development, fabrication, testing, installation, and after-sales services of its products.
The company will use the funds from the IPO to meet working capital needs, repay or prepay debts and for 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.
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