Sat Kartar Shopping IPO GMP Drops As Issue Booked Over 40 Times On Day 2
Sat Kartar Shopping Ltd.'s public offer is an entirely fresh issue of 41.73 lakh shares with no offer-for-sale component.
image source: satkartar.co.in
The initial public offering of Sat Kartar Shopping Ltd. that opened for bidding on Friday was booked 5.04 times led by demand from retail investors.
As the bidding enters Day 2, here's all you need to know about the Rs 33.8 crore IPO.
Sat Kartar Shopping IPO: All You Need To Know
Sat Kartar Shopping Ltd.'s public offer is an entirely fresh issue of 41.73 lakh shares with no offer-for-sale component. The price band for the SME IPO has been set at Rs 77 to Rs 81 per share. The minimum lot size for an application is 1600 equivalent to the minimum amount of investment required by retail investors to Rs 1,29,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,59,200.
As per the company's red herring prospectus, of the 41,90,600 shares offered;
8,06,800 (19.25%) is reserved for Qualified Institutions
5,92,000 (14.13%) for Non-Institutional Investors
13,79,000 (32.91%) for Retail Investors
11,79,200 (28.14%) for Anchor investors
Skyline Financial Services Pvt. is the registrar for the Sat Kartar Shopping IPO, with Narnolia Financial Services Ltd. serving as the book-running lead manager. The market maker for this SME IPO is Prabhat Financial Services Ltd.
Mr. Manprit Singh Chadha, Mr. Pranav Singh Chadha, Ms. Simrati Kaur and M/s Ajooni Wellness Private Limited. are the promoters of the company.
Ahead of the launch of its IPO, Sat Kartar Shopping Ltd raised Rs 9.55 crore from anchor investors.
Sat Kartar Shopping IPO Subscription Status Day 2
The IPO was subscribed 42.66 times on Monday, as per market tracking site Chittorgarh.com
Qualified Institutions: 2.31 times
Non-Institutional Investors: 44.69 times
Retail Investors: 65.4 times
What is Sat Kartar Shopping IPO GMP Today?
Sat Kartar Shopping IPO GMP today is Rs 30 as of 6:57 p.m. on Jan. 13. This indicates Sat Kartar Shopping share price was trading at a premium of Rs 30 in the grey market, according to IPO tracking site Investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sat Kartar Shopping share price is indicated at Rs 111 per share, which is 37.04% higher than the IPO price of Rs 81.
The GMP was Rs 33 before the issue opened for subscription on Day 2.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Sat Kartar Shopping IPO Important Dates
IPO Close Date: Jan. 14
IPO Allotment Date: Jan. 15
Credit of Shares: Jan. 16
Refund Initiation: Jan. 16
Listing on NSE SME: Jan. 17
About Sat Kartar Shopping Ltd. Business And Financials
Sat Kartar Shopping Ltd. is an Ayurveda healthcare company that offers holistic, natural remedies and lifestyle products. Its products, based on Ayurveda, are sold to consumers directly through its website, third-party e-commerce platforms, television ads and Google and Meta platforms. The solutions provided are exclusively derived from Charak Samhita, an ancient Ayurvedic text renowned for offering comprehensive insights and remedies for various health and lifestyle challenges.
Use Of Proceeds
As per the company's RHP documents, it will use portions of the IPO proceeds to fund an unidentified acquisition, meet marketing and advertising expenses, and fund capital expenditure. It will also use the fund to meet the expenditure on investment in technology, for general corporate purposes as well as issue expenses.
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.
