The initial public offerings (IPOs) of Omnitech Engineering and PNGS Reva Diamond Jewellery are in the focus of primary market investors, with the grey market trends indicating marginal gains. PNGS Reva Diamond Jewellery IPO opened for bidding on Feb. 24, while the Omnitech Engineering IPO subscription began on Wednesday. Here's a look at the latest grey market trends and other key details about the two mainboard issues.
PNGS Reva Diamond Jewellery IPO GMP Today
The grey market premium (GMP) for the PNGS Reva Diamond Jewellery IPO stood at Rs 1.5 per share at 10:30 a.m. on Feb. 25, according to InvestorGain. Based on the upper end of the IPO price band of Rs 386, the GMP hints at the listing of shares at an estimated price of Rs 387.5, a premium of 0.39% over the issue price.
The PNGS Reva Diamond Jewellery IPO is a book-building issue of Rs 380 crore, consisting entirely of a fresh issue of 98 lakh shares.
The price band for the PNGS Reva Diamond Jewellery IPO has been set between Rs 367 and Rs 386 per share. For retail investors, the minimum application size is a single lot, or 32 shares, requiring a minimum investment of Rs 12,352. For small Non-Institutional Investors (NIIs), the minimum bid size is 17 lots, or 544 shares, amounting to an investment of Rs 2,09,984. Similarly, big NIIs are required to apply for at least 81 lots, or 2,592 shares, aggregating to a minimum investment of Rs 10,00,512.
The PNGS Reva Diamond Jewellery IPO subscription window will close on Feb. 26. The IPO share allotment status is expected to be finalised on Feb. 27.
The company is scheduled to initiate refunds and transfer of shares to the demat accounts on March 2. The company's shares are scheduled to be listed on the BSE and NSE with the listing date tentatively fixed as March 4.
PNGS Reva Diamond Jewellery, incorporated in 2004, designs and sells jewellery featuring diamonds, as well as precious and semi-precious stones. Its product range includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutras, nose rings and chains. The company operates 34 stores across 25 cities in Maharashtra, Gujarat and Karnataka.
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Omnitech Engineering IPO GMP Today
According to InvestorGain, the GMP for the Omnitech Engineering IPO stood at Rs 4 per share at 10 a.m. on Feb. 25 The latest GMP indicates listing of shares at an estimated price of Rs 231 apiece, at a premium of 1.76% over the upper limit of the issue price of Rs 227.
The Omnitech Engineering IPO is a book-built issue worth Rs 583 crore. The IPO comprises a fresh issue of 1.84 crore shares, aggregating Rs 418 crore, and an OFS portion of 73 lakh shares, worth Rs 165 crore.
The Omnitech Engineering IPO price band has been fixed at Rs 216 to Rs 227 per share. A single lot size for the IPO comprises 66 shares. Retail investors are required to apply for at least one lot, or 66 shares, amounting to a minimum investment of Rs 14,982. For small NIIs, the minimum application size is 14 lots, or 924 shares, amounting to Rs 2,09,748. Big NIIs can participate in the subscription by applying for at least 67 lots, or 4,422 shares, aggregating to a minimum investment of Rs 10,03,794.
The Omnitech Engineering IPO will remain open for subscription till Feb. 27. The basis of allotment is expected to be finalised on March 2. This would be followed by refunds and transfer of shares to the demat accounts of subscribers on March 4. The shares are scheduled to be listed on the BSE and NSE, with a tentative listing date of March 5.
Equirus Capital Pvt. Ltd. is the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. serves as the registrar.
Omnitech Engineering is a manufacturing and engineering solutions company. It offers precision-engineered components, turnkey industrial automation systems and customised mechanical solutions for multiple industries. The company's products and services cater to automotive, aerospace, pharmaceuticals, food processing and manufacturing sectors.
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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