LK Mehta Polymers IPO Day 2: Check GMP, Subscription Status, Price Band And More
The latest grey market premium on LK Mehta Polymers IPO stood at Rs 10 on February 14, indicating a premium of 14.08% over the issue price. Shares of the company are likely to list at Rs 81 apiece.
The initial public offering of LK Mehta Polymers Ltd. which opened for subscription on Thursday was fully subscribed on Day 1. The SME IPO was booked 5.63 times led by demand from retail as well as non-institutional investors.
The company, a manufacturer and trader of plastic products, aims to raise Rs 7.38 crore via the IPO.
Here's all you need to know about the SME IPO of LK Mehta Polymers Ltd. as bidding resumes on Day 2.
L.K. Mehta Polymers IPO
LK Mehta Polymers IPO is a book-built issue consisting entirely of a fresh issuance of 10.4 lakh shares offered at a fixed price of Rs 71 apiece. The total offer size of this SME offer is valued at Rs 7.38 crore.
As per the RHP, of the 10,40,001 shares offered - 4,92,800 (47.38%) is reserved for Non-Institutional Investors and 4,92,800 (47.38%) is reserved for Retail Investors.
Retail investors may apply for shares in LK Mehta Polymers IPO with a minimum lot size of 1600 shares resulting in an investment of Rs 1,13,600.
The company has appointed Swastika Investmart Ltd. as the book-running lead manager and the market maker for its IPO. Bigshare Services Pvt. is the issue's registrar.
Click on this link to check the Red Herring Prospectus (RHP) of L.K.Mehta Polymers Limited.
L.K. Mehta Polymers IPO Day 2 Subscription Status
L.K. Mehta Polymers IPO has been subscribed 8.72 times as of 4:29 p.m. on Friday.
Non-Institutional Buyers: 5.73 times
Retail Investors: 11.7 times
*The subscription status will be updated at regular intervals.
L.K. Mehta Polymers IPO GMP Today
According to InvestorGain, the grey market premium on LK Mehta Polymers IPO stood at Rs 10 as of 3:59 p.m. on February 14. As per the current LK Mehta Polymers IPO GMP trends, shares of the company are likely to list on BSE SME at Rs 81 apiece, marking a premium of 14.08% over the issue price.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
L.K. Mehta Polymers IPO Important Dates
IPO Close Date: February 17
IPO Allotment Date: February 18
IPO Initiation of Refunds: February 19
Credit of Shares to Demat Account: February 19
IPO Listing Date: February 20
Use Of IPO Proceeds
The company has proposed to use the net proceeds to meet its incremental working capital requirements. A portion of the funds will also be used for general corporate purposes.
L.K. Mehta Polymers: Business And Financials
LK Mehta Polymers Ltd. is a manufacturer and trader of plastic products. It sells its product under the 'Super Pack' brand. The company is also involved in the trading and reprocessing of basic raw materials such as polypropylene and polyethene granules for its clients.
LK Mehta Polymers Ltd. generated a revenue of Rs 11.98 in the nine months ending Dec. 31, 2024, with a net profit of Rs 42 lakh. In FY 25, the company reported a revenue of Rs 18.87 crore marking a marginal growth from Rs 17.14 crore in the previous financial year.
The company posted a net profit of Rs 86 lakhs in FY24 in comparison to a net loss of Rs 1 lakh in FY23.
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.
