Check Royalarc Electrodes IPO GMP; SME IPO Fully Subscribed On Day 3
The latest grey market premium of Royalarc Electrodes IPO stood at Rs 0 on February 18, indicating a flat listing on NSE SME.
The initial public offering of Royalarc Electrodes Ltd. which is aiming to raise Rs 36 crore from the primary market will conclude its subscription on Tuesday, Feb. 18. The SME IPO was fully subscribed on Day 3, led by demand from retail investors.
The company is engaged in the business of manufacturing welding consumable products.
As bidding on Day 3 resumes, here's all you need to know about Royalarc Electrodes IPO including the latest grey market premium, Day 3 subscription status, allotment date and more
Royalarc Electrodes IPO Subscription Status Day 3
The Royalarc Electrodes IPO has been subscribed 1.2 times as of 2:19 p.m. on Tuesday, as per market tracking site Chittorgarh:
Qualified Institutional Buyers: 0.74 times
Non-Institutional Buyers: 0.73 times
Retail Investors: 1.67 times
Subscription status will be updated at regular intervals.
Royalarc Electrodes IPO: Details
Royalarc Electrodes IPO comprises a fresh issue of 18 lakh shares worth Rs 21.60 crore and an offer for sale of 12 lakh shares worth Rs 14.4 crore. The total offer size is valued at Rs 14.4 crore at the upper price band of Rs 114 to Rs 120.
Retail investors may bid in Royalarc Electrodes IPO with a minimum lot size of 1,200 shares, resulting in an investment of Rs 1.44 lakh.
As per the company's RHP document, of the 30,00,000 shares offered -- 5,60,400 (18.68%) is reserved for Qualified Institutional Buyers, 4,45,200 (14.84%) is reserved for Non-Institutional Buyers, 10,00,800 (33.36%) is reserved for Retail Investors and 8,40,000 (28%) is reserved for Anchor investors.
The company has appointed Fedex Securities Pvt. as the book-running lead manager of the Royalarc Electrodes IPO. Kfin Technologies Ltd. is the registrar for the IPO whereas Shreni Shares Ltd. is its market maker.
Bipin Sanghvi, Tarulata Sanghvi, Hardik Sanghvi and Swagat Sanghvi are the promoters of the company.
Royalarc Electrodes IPO GMP Today
The grey market premium on Royalarc Electrodes IPO stood at Rs 0 as of 1:54 p.m. on February 18, according to InvestorGain. The current GMP trends indicate a possible flat listing for the offer.
The unlisted shares of Royalarc Electrodes were trading at Rs 120 apiece.
Note: GMP is based on speculation and must not be considered official data.
Royalarc Electrodes IPO Imporant Dates
The subscription window for Royalarc Electrodes IPO will remain open till February 18. The allotment for the Royalarc Electrodes IPO is expected to be finalised on Wednesday, February 19. Credit of shares into the demat account of successful bidders will be done on February 20. Refunds for the non-allottees will also be initiated on the same day.
Shares of Royalarc Electrodes Ltd. are proposed to be listed on the NSE SME platform, Emerge on February 21.
Royalarc Electrodes Ltd. manufactures welding consumables such as MIG/TIG wires, flux-cored wires, and welding electrodes. It serves industries such as railways, construction, and shipbuilding.
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.
