Shares of Jinkushal Industries Ltd. will be listed on the BSE and NSE on October 3. The allotment of shares was completed on September 30, while the subscription window was open from September 25 to September 29.
The initial public offer of Jinkushal Industries Ltd. was subscribed 65.01 times on the last day of share sale on Monday, helped by strong participation from Non-institutional buyers.
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The Rs 116.15-crore IPO received bids for 43,75,69,560 shares against 67,21,048 shares on offer, as per BSE data.
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Ahead of its listing on Friday, the grey market premium of the IPO has alsod drawn a lot of attention from the private market investors. The unlisted shares of Jinkushal Industries were trading at a premium in the private market, indicating a potential gain of up to 16-17% when the shares debut on the market today.
Here's all the latest news surrounding the listing of Jinkushal Industries IPO.
Jinkushal Industries IPO GMP Today
The grey market premium (GMP) for Jinkushal Industries IPO was Rs 20 as of 8:00 a.m. on October 3. With the upper end of the price band at Rs 121, the IPO's estimated listing price is Rs 141 (cap price plus today's GMP), implying a potential gain of around 16.53% per share.
The unlisted shares of Jinkushal Industries were trading as high as Rs 142 when the IPO opened for subscription.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Jinkushal Industries IPO: All You Need To Know
The Jinkushal Industries IPO is a book-built issue of Rs 116.15 crore. It comprises a fresh issue of 86 lakh shares, raising Rs 104.54 crore, and an offer-for-sale component of 10 lakh shares, valued at Rs 11.61 crore.
The price band for the IPO was set between Rs 115 to Rs 121 per share.
The minimum application lot consisted of 120 shares, requiring a retail investor to invest Rs 14,520 at the upper end of the price band.
GYR Capital Advisors Pvt. Ltd. is the book-running lead manager for the IPO, while Bigshare Services Pvt. Ltd. has been appointed as the registrar of the issue.
Use Of Proceeds
Jinkushal Industries Ltd. intends to use the net proceeds from its IPO primarily to meet its working capital needs. In addition, a portion of the funds will be allocated for general corporate purposes.
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