The four-day initial public offering of Infonative Solutions IPO will close for subscription on Thursday, April 3. The SME IPO was fully subscribed on Wednesday led by interest from retail investors.
The SME issue is aimed at raising Rs 24.71 crore from the primary market. The Infonative Solutions IPO is a book-built issue of Rs 24.71 crore comprising a fresh issue of 31.28 lakh shares. The price band for the IPO has been set between Rs 75 and Rs 79 per share.
Here's all you need to know about the Infonative Solutions IPO.
Retail investors can bid for at least a single lot size of 1,600 shares, requiring a minimum investment of Rs 1,26,400. High net-worth individuals (HNIs) can invest in the IPO with a minimum lot size of 3,200 shares, amounting to Rs 2,52,800.
As per the company's RHP, of the 31,28,001 shares offered
1,60,000 (5.12%) is allocated to Qualified Institutions
7,04,001 (22.51%) is allocated to Non-Institutional Buyers
21,07,200 (67.37%) is allocated to Retail Investors
Share India Capital Services Pvt. is the book-running lead manager of the Infonative Solutions IPO. Kfin Technologies Ltd. is the registrar, and Share India Securities Ltd. is the market maker for the IPO.
The share allotment status for Infonative Solutions IPO is expected to be finalised on April 4. Successful bidders will receive the shares in their Demat account on Apil 7. The company will also process refunds for unsuccessful bidders on the same day.
Shares of Infonative Solutions Ltd. are scheduled to be listed on the BSE SME platform on Tuesday, April 8.
Infonative Solutions IPO: Day 4 Subscription Status
The IPO of Infonative Solutions was booked 4.29 times as of 4:19 pm on April 3.
Qualified Institutions: 18.57 times
Non-Institutional Buyers: 2.13 times
Retail Investors: 3.93 times
Subscription status will be updated at regular intervals.
Infonative Solutions IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the Infonative Solutions IPO stood at Rs 5 as of 3:00 PM on April 3. The current GMP trends indicates a potential listing gain of 6.33% when the issue hits the market next week. Unlisted shares of Infonative Solutions were trading at Rs 84 apiece in the grey market ahead of its listing on Tuesday.
Note: GMP does not represent official data and is based on speculation.
Infonative Solutions: Business and Use of IPO Proceeds
The company is a specialist in creating learning development solutions for the corporate and educational sectors. It produces e-learning content and offers cloud-based learning management systems (LMS).
Use of Proceeds
The company will use proceeds from the IPO to develop new products, features in the LMS, buy laptops, meet working capital requirements and general corporate purposes.
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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