The subscription for the SME IPO of Devson Catalyst will enter its final day of bidding on July 13. The initial public offering (IPO) was subscribed 27.35 times on the second day of bidding on July 10. It received bids for 7,07,67,600 shares against 25,87,200 offered. Qualified Institutional Buyers subscribed to the offer 2.60 times and Non-Institutional Investors booked the issue 27.14 times. Retail investors subscribed to the issue 42.88 times.
Investors who want to bid for shares in the IPO must check the following details before making an investment call.
Devson Catalyst IPO GMP Today
The grey market premium (GMP) for the Devson Catalyst IPO stood at Rs 45 as of 8:00 a.m. on July 13, according to InvestorGain. It indicates a listing price of Rs 163 apiece at a premium of 38.14% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
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Devson Catalyst IPO: Key Details
The Devson Catalyst IPO is a book-building issue of Rs 42.34 crore. It comprises a fresh issue of 33 lakh shares worth Rs 39.39 crore and an offer-for-sale (OFS) of 3 lakh shares amounting to Rs 2.95 crore.
The price band for the IPO is set between Rs 112 and Rs 118 per share.
Retail investors can participate by bidding for two lots of 1,200 shares each, which require an investment of Rs 2,83,200. High Net-Worth Individuals need to bid for three lots, amounting to an investment of Rs 4,24,800.
JJ IPO Advisors Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue. MNM Stock Broking Ltd. is the market maker for the issue.
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Devson Catalyst IPO: Allotment And Listing Date
The subscription window for the IPO opened on July 9 and will close on July 13. The allotment of shares is proposed to be finalised on July 14. The company will transfer shares to the demat accounts of successful bidders on July 15 and refunds for non-allottees will be done on the same day.
Shares of Devson Catalyst are expected to be listed on the BSE SME platform on July 16.
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Use Of Proceeds
According to the company, the capital raised from the issue will be used for the development of a new manufacturing unit, fund working capital requirements and for general corporate purposes.
About Devson Catalyst
Devson Catalyst is engaged in the production and supply of catalysts, adsorbents and ceramic balls, which are widely used as key materials in various industrial processes. The company manufactures its products at a facility in Surendranagar, Gujarat.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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