Spunweb Nonwoven IPO Day 3: Subscription Status, Latest GMP And All You Need To Know
Shares of Spunweb Nonwoven are tentatively scheduled to be listed on the NSE SME platform on July 21.
The initial public offering (IPO) of Spunweb Nonwoven continues to receive a strong response from investors on the third and last day of subscription on July 16. The NSE SME IPO has been subscribed more than 200 times so far, driven by the NII and retail investors.
As per Chittorgarh data till 3:20 p.m., Spunweb Nonwoven IPO received bids for more than 96 crore shares against 42.21 lakh shares on offer.
The Qualified Institutional Buyers (QIBs) subscribed to their category 132.64 times. The Non-Institutional Investors (NIIs) booked their segment 347.68 times. The retail portion of the IPO was booked 233.64 times.
The manufacturer and supplier of non-woven fabrics launched its IPO on July 14. Investors looking forward to participating in the Spunweb Nonwoven IPO subscription on Day 3 can check the following details before submitting their bids.
Spunweb Nonwoven IPO GMP Today
The grey market premium (GMP) for the Spunweb Nonwoven IPO stood at Rs 43 as of 2:00 p.m. on July 16, according to InvestorGain. The latest GMP indicates a listing price of Rs 139 apiece at a premium of 44.79% against the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation.
Spunweb Nonwoven IPO: Key Details
Spunweb Nonwoven IPO is a book-building issue worth Rs 60.98 crore. The SME IPO comprises only a fresh issue of 63.52 lakh shares.
The IPO price band has been fixed between Rs 90 to Rs 96 per share.
To participate in the IPO, retail investors need to bid for two lots comprising 2,400 shares, requiring an investment of Rs 2,16,000. High Net-Worth Individuals (HNIs) must bid for at least three lots, amounting to an investment of Rs 3,45,600.
Investors can bid for shares in the IPO till July 16. The IPO share allotment status is expected to be finalised on July 17. The company will transfer shares to the Demat accounts of the successful bidders on July 18 and refunds for non-allottees will take place on the same day.
Shares of Spunweb Nonwoven Ltd. are tentatively scheduled to be listed on the NSE SME platform on July 21.
Vivro Financial Services Pvt. is the book-running lead manager of the Spunweb Nonwoven IPO. MUFG Intime India Pvt. is the registrar and Rikhav Securities Ltd. is the market maker for the issue.
Use Of Proceeds
The company has proposed to use proceeds from the IPO to fund working capital requirements, repay debt and for general corporate purposes.
About Spunweb Nonwoven
The company is a manufacturer and supplier of non-woven fabrics. It serves industries such as healthcare, automotive and consumer goods. It is based in Gujarat.
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.
