Eppeltone Engineers IPO GMP Today, Day 3 Subscription Status, Allotment Date And More

The initial public offering of Eppeltone Engineers Ltd. will close for subscription today. So far, the SME IPO has received a good response from investors, as the public issue was booked over 35 times on Day 2.

As bidding for the Eppeltone Engineers IPO resumes on Day 3, here's all you need to know about the NSE SME IPO of Eppeltone Engineers, including the latest grey market premium, price band, final day subscription status, allotment date, listing date and more.

Also, find the websites where you can check the share allocation status once the company finalises the allotment for Eppeltone Engineers IPO.

The company 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.

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.

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

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.

According to Investorgain, the latest GMP for Eppeltone Engineers IPO stood at Rs 75 as of 5:00 pm on June 19. The GMP indicates an estimated listing price of Rs 203 per share, compared to the upper band of the issue price of Rs 190 apiece. Shares of Eppeltone Engineers are expected to be listed on the NSE SME platform at a premium of 58.59%, as per the GMP.

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

The IPO has been subscribed 296.34 times as of 5:40 pm on Thursday

• Qualified Institutions: 132.23 times

• Non-Institutional Buyers: 627.28 times

• Retail Investors: 248.04 times

*Subscription status will be updated on a regular basis.

The share allotment status for Eppeltone Engineers IPO will 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.

Investors who bid for the issue can verify their allotment status on the websites of NSE and Skyline Financial Services, the registrar for the issue

• NSE: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Skyline Financial Services: https://www.skylinerta.com/display_ipo_rightissue_allotment.php

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.