The Faalcon Concepts IPO, which opened for subscription on April 19, 2024, has garnered significant investor interest, with over 12,000 applications received as of April 23, 2024. The subscription status, updated as of 12:21:05 PM on Day 3, reveals that the IPO is oversubscribed by 13.06 times.
One of the notable highlights of the subscription status is the overwhelming response from retail investors, who have subscribed to the IPO by a staggering 20.51 times. This enthusiastic participation from retail investors underscores the confidence and optimism surrounding Faalcon Concepts’ debut on the stock market.
Institutional investors (QIB category) have also shown interest in the IPO, albeit at a lower subscription rate, while non-institutional investors (NII category) have subscribed 5.59 times.
Here is a breakdown of the subscription details:
– **NII Category:** Non-institutional investors have bid for 51,76,000 shares, representing a subscription rate of 5.59 times against the 9,26,000 shares offered in this category.
– **Retail Category:** Retail investors have displayed remarkable enthusiasm, bidding for 1,89,90,000 shares, resulting in a subscription rate of 20.51 times against the 9,26,000 shares offered.
– **Total:** The total number of shares bid for across all categories amounts to 2,41,82,000, against the total shares offered of 18,52,000.
The strong subscription figures reflect the confidence of investors in Faalcon Concepts Limited, a company specializing in the planning, design, fabrication, and installation of facade systems. With a diverse product portfolio and a track record of serving clients across various states and overseas, Faalcon Concepts has positioned itself as a promising player in its industry.
The subscription data suggests that investors see potential in Faalcon Concepts’ growth prospects and are eager to be part of its journey as it makes its debut on the stock exchange. The robust demand for the IPO sets the stage for a successful listing and underscores the company’s prospects in the market.
Investors and market enthusiasts eagerly await the allotment and listing of Faalcon Concepts IPO, scheduled to take place in the coming days. As the IPO journey progresses, all eyes will be on Faalcon Concepts as it embarks on its new chapter as a publicly listed entity.
