Workmates Core2Cloud IPO Listing In Focus: Check Date, GMP, Expected Share Price Ahead Of Market Debut
Workmates Share Price: Based on the current GMP, investors can expect a potential gain of up to 45% when the stock debuts on the market.
The initial public offering (IPO) of Workmates Core2Cloud Solution Ltd. closed with a strong subscription on the last day of bidding on Thursday. The SME IPO of the Kolkata-based AWS Premier Consulting Partner was oversubscribed 131.60 times on the third and final day.
Non-institutional investors led the demand for the public issue, subscribing over 150 times. Qualified institutional investors subscribed 147 times, whereas the retail investors' portion was oversubscribed 111.64 times.
The grey market premium for the SME IPO of Workmates Core2Cloud Solution has increased by more than 80% since the end of the IPO subscription period.
The allotment status for the IPO was finalised on Friday.
Shares of Workmates Core2Cloud Solution Ltd. are expected to list on the BSE SME on Tuesday, November 18.
Workmates Core2Cloud IPO GMP Today
The grey market premium for the Workmates Core2Cloud Solution IPO was Rs 92 on Monday, indicating a 45.10% premium over the IPO price band.
This means that the unlisted shares of the company were trading at Rs 296 in the private market. Investors who are successfully allotted the company's shares can expect a listing gain of up to 44% when the stock debuts this week.
This is the highest GMP recorded for the IPO since the price band was announced. The lowest GMP was Rs 20, recorded on November 7.
The company is scheduled to initiate refunds and share transfer to Demat accounts on November 17.
About Workmates Core2Cloud Solution IPO
Workmates Core2Cloud IPO is a book build issue of Rs 69.84 crores. The issue comprises a fresh issue of 0.29 crore shares aggregating to Rs 59.34 crores and offer for sale of 0.05 crore shares aggregating to Rs 10.50 crores.
The price band for the IPO was set at Rs 200 to Rs 204 per share.
The SME IPO was fully subscribed on Day 1 and was oversubscribed 8 times on Thursday before concluding with an overall subscription of 131.60 times on Friday. Overall, investors bid for 32,42,06,400 shares against the 24,63,600 shares on offer.
Horizon Management Pvt. Ltd is the book-running lead manager and MUFG Intime India Pvt. Ltd is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd.
About Workmates Core2Cloud Solution
Founded in 2018, Workmates is a cloud-native, AI-driven modernization and managed services partner for enterprises ready to transform for what’s next. Based in Kolkata, the company has rapidly expanded, completing over 350 projects for more than 200 clients across various industries, including finance, healthcare, retail, e-commerce, and media. Headquartered in India, with an expanding presence in Singapore, they help businesses simplify complexity, enhance operational resilience, and drive sustainable growth through technology.
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.
