Final Day! Kenrik Industries IPO: Check GMP, Subscription Status, Allotment Date And More
The 5-day IPO was fully subscribed on Monday (Day 4).
The Initial Public Offering (IPO) of Gujarat-based Kenrik Industries Ltd. which opened on April 29 will close for subscription today. The 5-day IPO was fully subscribed on Monday (Day 4). The SME issue was booked 0.25 times on Day 1, 0.49 times on Day 2 and 0.77 times on Day 3.
The company aims to raise nearly Rs 9 crore through this IPO.
The company is planning to expand operations and strengthen its reach in the B2B jewellery sector with the funds raised through the IPO.
Here's all you need to know about Kenrik Industries Ltd. and its IPO as bidding on day 5 draws to a close.
Kenrik Industries IPO Key Details
Issue Price: Rs 25 per share
Total Issue Size: Rs 8.75 crore
IPO Price Band: Rs 25 per share
Fresh Issue of Shares: 34.98 lakh (No Offer-For-Sale portion)
Lot Size: Minimum 6,000 shares (for retail investors)
Out of the 34,98,000 shares on offer - 16,56,000 (47.34%) is allocated to Non-institutional investors and 16,62,000 (47.51%) is allocated to retail investors.
Turnaround Corporate Advisors Private Limited is the book-running lead manager of the Kenrik Industries IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.
Kenrik Industries IPO Subscription Status On Day 5:
The overall subscription stood at 1.84 times around 2:49 p.m. on Tuesday.
Non-Institutional Investors: 0.19 times, or 19%.
Retail Investors: 3.48 times
*The subscription status will be updated at regular intervals
Kenrik Industries IPO GMP Today
According to Investorgain, the grey market premium (GMP) for Kenrik Industries IPO stood at Rs 0 at 1:55 p.m. on May 6. The latest GMP indicates a possible flat listing. If the current GMP trends are sustained, the shares may debut on the BSE SME at Rs 25 apiece.
Note: GMP does not present official data and is based on speculation.
Kenrik Industries IPO Important Dates
Once the subscription window closes on May 6, all eyes will be on the share allotment process for the IPO.
Kenrik Industries Ltd. IPO allotment status is expected to be finalised on May 7. Shares of the company are tentatively scheduled to be listed on the BSE SME platform on May 9.
Use Of Proceeds
Kenrik Industries plans to utilise the IPO proceeds mainly to meet its working capital requirements. It will allocate Rs 6.56 crore of the proceeds for this purpose. Additionally, Rs 1.8 crore will be used 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.
