Greenchef Appliances Ltd IPO Subscription Status: The SME initial public offering (IPO) of Greenchef Appliances Ltd was subscribed 7.43 times on Day 2. The subscription period for the IPO will begin on Friday, June 23 and end on Tuesday, June 27.
On Day 2 of the subscription, the issue received positive response from retail investors and portion set was subscribed 14.22 times. While the non-institutional bidders (NII) portion received 5.63 times subscription, and QIBs portion was subscribed 3.21 times, according to data on chittorgarh.com, at 17:47 IST.
The company has received bids for 4,34,56,000 shares against 6,163,200 shares on offer, according to data on chittorgarh.com.
The issue is priced between ₹82 and ₹87 per share. The lot size for Greenchef Appliances’ IPO is 1600 shares, with a minimum order quantity of.
The initial share offering involves a fresh issue of about 61.63 lakh shares. The company plans to collect ₹53.62 crore through an initial share sale offer at the high end of the price band.
The proceeds from the IPO will be used to pay capital expenditure for the installation of new plant and machinery, the construction of a manufacturing facility, working capital requirements, and general corporate purposes.
The company has reserved 50% share of the net offer for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII) and 35% for Retail investors.
Hem Securities is the IPO’s book-running lead manager, and the registrar for the IPO is Link Intime India Private Ltd.
Greenchef Appliances’ IPO is expected to go public on Thursday, July 6.
The company will fix the basis of allotment on Monday, July 3 and initiate refunds on Tuesday, July 4. The credit of shares to investors’ demat account will take place on Wednesday, July 5. The anchor bids for the public issue began on Thursday, June 22.
The shares of the company will be listed on NSE Emerge, a specialised market platform for small and medium-sized businesses.
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Updated: 26 Jun 2023, 05:54 PM IST