Vilin Bio Med Ltd IPO Subscription Status: The SME initial public offering (IPO) of Vilin Bio Med Ltd was subscribed 59% on Day 2. The public issue that opened for subscription on Friday, June 16, will close on Wednesday, June 21.
On Day 2 of the subscription, the issue received positive response from retail investors and portion set was subscribed 1.24 times. While the non-institutional bidders (NII) portion received 5% subscription, according to data on chittorgarh.com.
The company has received bids for 22,36,000 shares against 4,000,000 shares on offer, according to data on chittorgarh.com at 16:23 IST.
Vilin Bio Med IPO gets tepid response from investors on Day 1; check details
The company has a face value of ₹10 per share and the issue price for the fresh issue portion has a fixed price of ₹30 per share.
At a price of ₹30 per share, the company will issue a total of 40 lakh shares, raising a total of ₹12 crore. The fresh issue portion of Vilin Bio Med’s issue is also its complete size because this issue does not contain an offer for sale.
The company has set aside 50% of the issue size for retail investors and the remaining 50% for HNI/NII investors. 4,000 shares will be the minimum lot size for the IPO investment. Therefore, retail investors can purchase shares in the IPO for a minimum investment of ₹120,000 (4,000 x ₹30).
HNI/NII investors can make a minimum investment of 2 lots, each consisting of 8,000 shares, with a minimum lot value of ₹240,000.
On June 26, the company will set the basis for allocating shares, and on June 27, the refund process will begin. On June 29, shares will be credited to the allottees’ demat accounts.
On June 30, Vilin Bio Med shares are most likely to be listed on the NSE SME market.
The issue’s registrar will be Bigshare Services Private Limited, while Inventure Merchant Banking Services Private Ltd will act as the issue’s lead manager
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Updated: 19 Jun 2023, 04:29 PM IST