Meson Valves IPO: The initial public offering of Meson Valves India Ltd, the manufacturer of valves and related flow control products, opened for subscription on September 8. Meson Valves IPO is an SME IPO and will close on September 12.
The ₹31.09 crore worth Meson Valves IPO is a fresh issue of 30.48 lakh shares of face value of ₹10 each. The SME IPO price band has been fixed at ₹102 per share.
In the IPO, the company reserved 47.44% shares each for retail investors and non-institutional investors (NII). The remaining 5.12% or 1.56 lakh shares are offered to the market maker of the IPO.
Meson Valves India IPO lot size is 1,200 shares and the minimum investment required by retail investors is ₹122,400.
The company will fix the basis of allotment of IPO shares on September 15 and initiate refunds on September 18, while it will credit the shares to the demat accounts of eligible allottees on September 20.
Meson Valves India shares are expected to be listed on September 21 on BSE SME platform.
After knowing the Meson Valves IPO details, let’s take a look at the IPO subscription and GMP today:
Meson Valves IPO Subscription Status
The SME IPO has received robust demand from investors as the issue got oversubscribed on the first day itself.
Meson Valves India IPO has been subscribed 5.43 times so far on September 8, the first day of the bidding process. The issue received bids for 1.57 crore equity shares as compared to 28.92 lakh shares on the offer.
The public issue has been subscribed 9.66 times in the retail category and 1.20 times in the Non-Institutional Investors’ (NII) category, till 4:00 pm.
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Meson Valves IPO GMP Today
Meson Valves IPO GMP today, or grey market premium today, is ₹90 per share, as per topsharebrokers.com. This means Meson Valves shares are trading higher by ₹90 than their issue price, in the grey market.
Considering the issue price and the GMP today, Meson Valves shares’ estimated listing price is ₹192 apiece, which is 88.24% premium to the issue price.
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Updated: 08 Sep 2023, 04:13 PM IST