The initial public offering of Beezaasan Explotech Ltd. will close for subscription on Feb. 25.
The company looking to raise Rs. 59.93 crore from the primary market, is engaged in the business of manufacturing explosives and related accessories.
As bidding on the final day resumes, here's all you need to know about Beezaasan Explotech IPO.
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Beezaasan Explotech IPO Details
Beezaasan Explotech IPO is a book-built issue of 34.25 lakh shares worth Rs. 59.93 crore. The price band for the offer has been set in the range of Rs 165 to Rs 175 apiece.
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Of the 34,24,800 shares offered by the company
6,53,600 (19.08%) is reserved for QIBs
4,88,800 (14.27%) is reserved for NIIs
11,38,400 (33.24%) is reserved for Retail investors
9,68,000 (28.26%) is reserved for Anchor investors.
Retail investors can bid in the IPO with a minimum lot size of 800 shares, resulting in an investment of Rs 1,40,000 at the upper price band.
Smart Horizon Capital Advisors Pvt. is the book-running lead manager and Kfin Technologies Ltd. is the registrar for Beezaasan Explotech IPO. The company has appointed Rikhav Securities Ltd. as the market maker for this SME issue.
Beezaasan Explotech IPO: Day 3 Subscription Status And Latest GMP
The Beezaasan Explotech IPO has been subscribed 5.42 times as of 5:09 p.m. on Tuesday.
Qualified Institutions: 11.52 times
Non-Institutional Investors: 4.65 times
Retail Investors: 2.26 times
*The subscription status will be updated at regular intervals
The grey market premium for the Beezaasan Explotech IPO stood at Rs. 0 as of 3:54 p.m. on Feb. 25, according to InvestorGain. The current GMP trends indicate a potential flat listing for the offer.
Note: GMP does not represent official data and is based on speculation.
Beezaasan Explotech IPO: Important Dates
The subscription window for Beezaasan Explotech IPO will remain open from Feb. 21 to Feb. 25. The allotment for the Beezaasan Explotech IPO is expected to be finalised on Thursday, Feb. 27. Credit of shares into the demat account of successful bidders will be done on Feb. 28. Refunds for the non-allottees will also be initiated on the same day.
Shares of Beezaasan Explotech Ltd. are proposed to be listed on the BSE SME platform on Monday, March 3.
Use of Proceeds
Beezaasan Explotech Ltd. has proposed to use the net proceeds from the IPO to expand its manufacturing unit in Gujarat. The money will also be used to repay or prepay all or certain borrowings 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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