The initial public offerings (IPO) of SRIT India and Shah Investor's Home, both of which opened for subscription on Sept. 28, are underway. Between the two, SRIT India is commanding a higher grey market premium, indicating a higher GMP-implied listing gain.
Note: GMP is unofficial and based on grey-market activity. The GMP-implied listing price and premium are indicative and do not guarantee the actual listing price.
Here's a detailed look at the latest GMP and key IPO details for each issue:
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SRIT India IPO GMP
According to the InvestorGain website, the latest GMP of SRIT India IPO stood at Rs 33 as of Sept. 29 at 8:30 a.m. Given the issue's upper price band of Rs 130, the estimated listing price for SRIT India IPO is Rs 163 (cap price + today's GMP). This translates into a GMP-implied listing gain of 25.38%
SRIT India IPO Subscription Day 2
The IPO has been subscribed 1.22 times as of 10:05 a.m. on Tuesday.
- Retail Investors: 1.93 times
- NII subscription: 1.20 times
- QIBs: 0 times
SRIT India IPO Details
- Issue size: SRIT India IPO is a book-build issue of Rs 218.40 crore. The issue is entirely a fresh issue of 1.68 crore shares.
- Key dates: SRIT India IPO bidding will remain open for subscription from Sept. 28 to 30. The allotment for the SRIT India IPO is expected to be finalised on Oct. 1. SRIT India IPO will list on NSE and BSE with a tentative listing date fixed as Oct. 6.
- Price band and lot size: Issue price band has been set at Rs 123 to Rs 130 per share. The lot size for an application is 115 shares. The minimum amount of investment required by an individual investor (retail) is Rs 14,950 (115 shares) based on the upper price band.
- Lead Manager & Registrar: Choice Capital Advisors Pvt. Ltd. is the book-running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Shah Investor's Home IPO GMP
As per the InvestorGain website, Shah Investor's Home IPO's last recorded Grey Market Premium (GMP) is Rs 14, updated on Sept. 29 at 8:30 a.m. With an upper price band of Rs 167, the estimated listing price for Shah Investor's Home IPO is Rs 181 (cap price + today's GMP). This implies a GMP-based listing gain of 8.38%.
Shah Investor's Home IPO Subscription Day 2
The IPO has been subscribed 0.35 times as of 10:05 a.m. on Tuesday.
- QIBs: 0.50 times
- NIIs: 0.28 times
- Retail: 0.29 times
Shah Investor's Home IPO Details
Issue size: Shah Investor's Home IPO is a book-build issue of Rs 90.17 crore, an entirely fresh issue of 53.99 lakh shares.
Key dates: The IPO is open for subscription from Sept. 28 till 30. The allotment for the Shah Investor's Home IPO is expected to be finalised on Oct. 1. The IPO will list on NSE and BSE with a tentative listing date fixed as Oct. 6.
Price band and lot size: Shah Investor's Home IPO has an issue price band of Rs 159 to Rs 167 per share. The lot size for an application is 85 shares. The minimum amount of investment required by an individual investor (retail) is Rs 14,195 (85 shares) based on the upper price band.
Lead Manager & Registrar: Beeline Capital Advisors Pvt. Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
GMP-Implied Listing Gains Compared
Based on the latest GMP, SRIT India IPO implies a listing gain of 25.38%, compared with 8.38% for Shah Investor's Home IPO.
- SRIT India: Rs 3,795 per lot (GMP × lot size)
- Shah Investor's Home: Rs 1,190 per lot (GMP × lot size)
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It is important to note that grey market premiums (GMP) do not represent official data and can change before listing.
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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