Emmforce Autotech IPO, a book-built issue with a total value of Rs 53.90 crores, comprises solely of fresh shares totaling 55 lakh.
The subscription period for the IPO commenced on April 23, 2024, and concludes today, April 25, 2024. Allotment for the IPO is slated to be finalized by Friday, April 26, 2024, with the tentative listing date on BSE SME set for Tuesday, April 30, 2024.
The price band for Emmforce Autotech IPO is fixed at ₹93 to ₹98 per share, with a minimum lot size requirement of 1200 shares. For retail investors, the minimum investment amount stands at ₹117,600, while for High Net Worth Individuals (HNI), the minimum investment is set at 2 lots, equivalent to 2,400 shares amounting to ₹235,200.
Beeline Capital Advisors Pvt Ltd serves as the book running lead manager for the IPO, with Link Intime India Private Ltd acting as the registrar. Spread X Securities is designated as the market maker for Emmforce Autotech IPO.
The Emmforce Autotech IPO has garnered immense interest from investors, with a subscription rate of 168.04 times on April 25, 2024, by 1:37:04 PM, marking the third day of the subscription period. This overwhelming response indicates a strong demand for the company’s shares.
Breaking down the subscription details by category:
1. **Retail Category:** The retail category witnessed a subscription rate of 177.88 times, showcasing robust interest from individual investors. This category received bids for 32,53,02,000 shares against the 18,28,800 shares offered.
2. **QIB (Qualified Institutional Buyer) Category:** The QIB category saw a subscription rate of 39.09 times, indicating significant interest from institutional investors. Bids were made for 4,08,60,000 shares against the 10,45,200 shares offered.
3. **NII (Non-Institutional Investors) Category:** The NII category experienced an exceptional subscription rate of 317.09 times, suggesting strong participation from high-net-worth individuals and other non-institutional investors. Bids were received for 24,84,73,200 shares against the 7,83,600 shares offered.
In total, the IPO received applications for 61,46,35,200 shares against the total of 36,57,600 shares offered. This remarkable subscription rate underscores the market’s enthusiasm for Emmforce Autotech’s IPO.
