Remus Pharmaceuticals is a small and medium-sized enterprise (SME) offering 388,000 equity shares. Maximum value of 10 and 47.69 crores. The issue price per share ranges from Rs. 1150 to Rs. 1229 to issue. Open to the public on May 17, 2023, this offering will expire on May 19, 2023. Beeline Capital Advisors Private Limited is the lead manager to the IPO, while Link Intime India Private Limited is the registrar. Remus Pharmaceuticals is expected to list its maiden public offering of shares on NSE SME on Monday, May 29, 2023.
During its second day of subscription, Remus Pharmaceuticals IPO was subscribed 6.41 times and the total number of shares bid was 17,77,700 against the offered shares of 2,77,500. As of May 18, 2023, the Public Offering was subscribed 10.93 times in the Retail category, 1.48 times in the QIB category and 12.25 times in the NII category. A total of 10,62,000 shares were bid for the retail category against the offer of 97,125 shares; There was a total bidding of 5,09,700 shares for the NII category as against the offer of 41,625 shares; A total of 2,06,000 shares were bid against and 1,38,750 shares were offered for the QIB category.
The gray market premium of Remus Pharmaceuticals, as per GMP Trends, is around Rs. Started from 118 and has subsequently fallen to Rs. 70 by May 18, 2023. Estimated listing price is roughly estimated by GMP indication 1299 per share (Capital Price + Today’s GMP) taking into account the Capable Issue Price of Remus Pharmaceuticals Limited IPO on May 18, 2023 1,229 per share. Consequently, the listing premium of Remus Pharmaceuticals Ltd. over the gray market determined listing price is a solid 5.70%, as indicated by the GMP of Rs. 1299 at the upper issue price band of Rs. 1229.
AR Ramachandran, Co-Founder & Trainer – Tips2trades said, “Strong fundamentals backed by strong return ratios and excellent profit growth despite mounting debt makes Remus Pharmaceuticals an attractive buy for investors. Investors can subscribe to the listing benefits “
VLA Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT) said, “Remus Pharmaceuticals Limited has announced the opening and closing dates of its Initial Public Offering (IPO) on May 17 and May 17 (NSE SME Emerge Platform) to be listed on). 19, 2023, respectively. Tomorrow is the last day for application. The IPO size is approx 47.69 crore, in which 388,000 equity shares are available. The face value of each equity share is 10. The price band of the IPO has been set between Rs 1150 and 1229 per equity share. The IPO will be listed on NSE SME. The retail quota is 35% of the net offer, the QIB quota is 50% of the net offer, and the NII quota is 15% of the net offer.”
“This company belongs to pharma sector and almost all pharma companies have already got the benefit of corona so this. Its profit (Cr.) in the year 0.81 and 1.03 in 2021 and 3.39 in the year 2022. To me, this sounds like preparation for an IPO. In fact, the figures for Qualified Institutional Buyers (QIBs) are also not reliable. Retail traders should be very cautious of me as they have subscribed more than 2 times where as non-institutional investors have subscribed around .070. Worth noting here is that QIB and NII together hold 65% of this IPO. As per my understanding, it may not be listed in premium. Retail traders should avoid now and wait for some time. Let it trade in secondary market, it has done well, invest in it otherwise ignore it,” VLA Ambala further said.
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