Readymix Construction IPO GMP, Day 3 Subscription Status, Allotment Date And Other Key IPO Details

The initial public offering of Readymix Construction Machinery Ltd. will close for subscription on Feb. 10. The SME IPO was subscribed 0.99 times on opening day and was booked 1.65 times on Friday. The demand for the IPO was led equally by all investor categories who have fully subscribed their quota of shares allocated.

As bidding enters its final day, here's all you need to know about the Readymix Construction IPO including its latest grey market premium, subscription status, allotment date, listing date and other key IPO details.

The Readymix Construction Machinery IPO has been subscribed 4.57 times as of 2:44 p.m. on Monday.

• Qualified Institutions: 5.1 times

• Non-Institutional Buyers: 4.75 times

• Retail Investors: 4.2 times

*The subscription status will be updated at regular intervals

• IPO size: Rs 37.66 crore

• Bidding dates: Feb. 6 to Feb. 10

• Price band: Rs 121 to Rs 123

• Lot size: 1000 shares

• Minimum investment: Rs 1,21,000

• Allotment date: Feb. 11

• Listing date: Feb. 13

• Registar: BigShare Services Pvt. Ltd.

As per the company's RHP document, of the 30,62,000 shares offered:

• 5,82,000 (19.01%) is reserved for Qualified Instututional Investors

• 4,37,000 (14.27%) is reserved for Non-Institutional Investors

• 10,18,000 (33.25%) is reserved for Retail Investors

• 8,71,000 (28.45%) is reserved for Anchor investors.

The latest grey market premium of Readymix Construction Machinery SME IPO stood at Rs 0 as of 4:28 p.m. on Feb. 10 indicating a flat listing, according to InvestorGain. This means that the unlisted shares of the issue are trading at the same price of Rs 123, the upper end of the IPO price band.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The company will use the funds from the IPO to meet working capital needs, repay or prepay debts and for general corporate purposes.

Multidisciplinary manufacturer and supplier Readymix Construction Machinery Ltd. caters to the construction equipment sector.

The company offers end-to-end turnkey solutions, including conceptualisation, development, fabrication, testing, installation, and after-sales services of its products.

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.