Patel Chem IPO Booked Over 165 Times; GMP Up 42% - Check Allotment Date, Status And Listing Date
The unlisted shares of Patel Chem Specialities were trading at Rs 119 a piece on the grey market, indicating a listing gain of over 41% per share over the upper limit of the issue price.
The initial public offering (IPO) of Patel Chem Specialities Ltd., which opened for bidding on Friday, closed for subscription on Tuesday, July 29.
The SME issue was booked over 165 times on Day 3.
Here's all you need to know about the Patel Chem Specialities IPO, including the price band, offer size, Day 3 subscription status, latest grey market premium, allotment date, allotment status, listing date and more.
Patel Chem Specialities IPO GMP Today
According to Investorgain, the grey market premium (GMP) for Patel Chem Specialities IPO stood at Rs 35 per share at 5 p.m. on July 29. The unlisted shares of Patel Chem Specialities were trading at Rs 119 (Rs 84 + Rs 35) a piece on the grey market. The GMP reflects a potential listing gain of 41.67% per share over the upper limit of the issue price.
According to the GMP trends, the highest GMP for the SME issue was Rs 45 when it opened for subscription on July 25.
Note: GMP does not represent official data and is based on speculation.
Patel Chem Specialities IPO Day 3 Subscription Status
The SME IPO of Patel Chem Specialities was booked 167.32 times on Tuesday.
Qualified Institutions: 105.27 times
Non-Institutional Investors: 236.62 times
Retail Investors: 173.03 times
Subscription status will be updated at regular intervals
Patel Chem Specialities IPO Price Band, Offer Size, Day 2 Subscription Status
The BSE SME IPO is a book-building issue of Rs 58.8 crore. It comprises only a fresh issue of 70 lakh shares. The price band for the IPO has been fixed between Rs 82 and Rs 84 per share.
Retail investors can participate in the IPO by bidding for at least two lots comprising 3,200 shares. This amounts to a minimum investment of Rs 2,62,400. High Net-Worth Individuals (HNIs) can bid for at least three lots, amounting to an investment of Rs 4,03,200.
Cumulative Capital Pvt. is the book-running lead manager of the Patel Chem Specialities IPO. MUFG Intime India Pvt. is the registrar and Globalworth Securities Ltd. is the market maker for the issue.
The SME IPO saw an overall subscription of 19.25 times on Monday, as per the Chittorgarh data.
Patel Chem Specialities IPO Allotment And Listing Date
The allotment status for the Patel Chem Specialities shares is proposed to be finalised on July 30. Patel Chem Specialities will transfer shares to the Demat accounts of the successful bidders on July 31. The company will also process refunds for non-allottees on the same day.
Shares of Patel Chem Specialities are proposed to be listed on the BSE SME platform on August 1.
Patel Chem Specialities IPO Allotment Status
Investors who bid for the issue can check the share allotment status for Patel Chem Specialities IPO on the websites of BSE and MUFG Intime India (previusly known as Link Intime India), the registrar for the issue.
Patel Chem Specialities Business And Use Of IPO Proceeds
Patel Chem Specialities manufactures pharmaceutical excipients, which are used in drug formulations. It was incorporated in 2008.
The company has proposed to use proceeds from the IPO to fund capital expenditure requirements 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
