The initial public offering (IPO) of Repono Ltd., which opened for bidding on Monday, was subscribed over 11 times on the second day of bidding on July 29. The BSE SME issue received bids for more than 2.17 crore shares against 18.48 lakh shares on offer, as per the stock exchange data till 5 p.m.
Those who want to participate in the SME IPO of Repono can check the following details before making an investment call.
Repono IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the Repono IPO stood at Rs 21 apiece as of 5:00 p.m. on July 29. The latest GMP indicates a listing price of Rs 117 apiece at a premium of 21.88% over the upper end of the issue price.
Note: GMP does not represent official data and is based on speculation.
Repono IPO Day 2 Subscription Status
The SME IPO was booked 11.77 times on Tuesday
Qualified Institutions: 9.13 times
Non-Institutional Buyers: 14.25 times
Retail Investors: 12.21 times
Subscription status will be updated at regular intervals
Repono IPO: Key Details
The SME issue of Repono Ltd. comprises only a fresh issue of 27.79 lakh shares. The company aims to raise Rs 26.68 crore from the primary market through the book-building issue.
Retail investors can apply for the IPO by placing bids for two lots, equating to 2,400 shares, aggregating to Rs 2,18,400. Meanwhile, High Net-Worth Individuals (HNIs) are required to bid for a minimum of three lots, amounting to an investment of Rs 3,45,600.
The price band for the IPO has been fixed between Rs 91 and Rs 96 per share.
Investors can participate in the IPO from July 28 to July 30. The allotment of shares is proposed to be finalised on July 31. The company will transfer shares to the Demat accounts of successful bidders on Aug. 1 and refunds for non-allottees will also be processed on the same day.
Shares of Repono are proposed to be listed on the BSE SME platform on Aug. 4.
Wealth Mine Networks Pvt. is the book-running lead manager of the Repono IPO. Cameo Corporate Services Ltd. is the registrar and JSK Securities and Services Pvt. is the market maker for the issue.
Use Of Proceeds
The company plans to utilise the IPO proceeds to fund working capital requirements and capital expenditure. A portion of the funds will be used for general corporate purposes.
About Repono
Repono provides warehousing services to industries such as oil and gas, petrochemicals and speciality chemicals. It was incorporated in 2017.
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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