Investors are keeping a close watch on three initial public offerings (IPOs) at the end of June. These include offerings from IT, textile and packaging companies.
The IPO of CSM Technologies, an IT solutions provider, is currently open for subscription. Besides that, Aastha Spintex, which manufactures cotton yarn and cotton bales, is set to launch its IPO soon. Integrated packaging solutions company Knack Packaging will also go public in the next few days.
Market participants are tracking grey market premium (GMP) trends, subscription levels and other aspects of these issues.
Here's everything you need to know about three mainboard issues in detail; including their respective GMP, possible listing price, price band, latest subscription status, allotment and listing date:
CSM Technologies IPO GMP
According to the InvestorGain website, the GMP for the CSM Technologies IPO was Rs 4 on June 29. Based on the upper price band of Rs 113, the estimated listing price is Rs 117 per share (upper price + GMP). This indicates a likely listing gain of around 3.54% for investors, if current GMP trends remain unchanged.
Founded in 1998, CSM Technologies is an IT solutions provider serving both government and private sector clients. Its Rs 145.78 crore IPO is entirely a fresh issue of 1.29 crore shares. The public issue opened for subscription on June 24 and will close on June 29. Its share allotment is expected on June 30, while the stock is likely to list on the NSE and BSE on July 2. The price band has been fixed at Rs 107-113 per share. Retail investors can apply for a minimum of 132 shares, requiring an investment of Rs 14,916 at the upper price band.
The IPO was booked 0.66 times on day 2 of bidding on Thursday, June 25.
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Aastha Spintex IPO GMP
The GMP for the Aastha Spintex IPO was Rs 5.25 on June 29, according to InvestorGain. Based on the upper price band of Rs 136 per share, the estimated listing price is Rs 141.25 (upper band + GMP). This suggests a potential listing gain of around 3.86% for investors.
The initial public offering (IPO) of Aastha Spintex, a manufacturer of cotton yarns and bales, will be open for subscription from June 29 to July 1. The book-build issue worth Rs 170 crore is an entirely fresh issue of 1.25 crore shares.
The Aastha Spintex IPO has a price band of Rs 125 to Rs 136 per share, with each application lot size consisting of 110 shares. The minimum retail investment required is Rs 14,960 at the upper price band. The IPO listing is scheduled for July 6 on NSE and BSE.
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Knack Packaging IPO GMP
As per the data on InvestorGain website, Knack Packaging IPO GMP stood at Rs 14.5 on June 29. Given its price band cap of Rs 170, the shares are anticipated to debut at Rs 184.5 (cap price + today's GMP). This means that the expected gain per share is 8.53%.
Knack Packaging is an integrated packaging solutions provider, launching its book-build issue worth Rs 439.50 crores. The IPO is a combination of fresh issue of 2.24 crore shares aggregating to Rs 380.00 crores and offer-for-sale (OFS) of 35 lakh shares aggregating to Rs 59.50 crores.
The issue will be open for subscription on July 1 and continue receiving bids till July 3. Subsequently, the share allotment process will take place on July 6, with a tentative listing date set for July 8 on NSE and BSE.
The company has set a price band of this issue at Rs 161 to Rs 170. Retail investors can participate by bidding for at least one lot, comprising 88 shares and amounting to Rs 14,960 (based on upper price).
Note: GMP does not represent official data and is based on speculation.
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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