Graphisads IPO made a subdued debut on the NSE SME platform, listing at ₹111.50, a mere 0.5% higher than the issue price of ₹111. However, the share price experienced a nearly 5% decline after the muted opening, trading at ₹105.95 apiece at 10:04 IST.
The IPO subscription period for Graphisads opened on November 30 and closed on December 5. On the final day, the IPO was subscribed 3.86 times, with bids for 1,76,18,400 equity shares against the 4,569,600 shares on offer. The retail category saw a subscription of 5.52 times, while the non-institutional investors’ (NII) category was subscribed 2.01 times.
Graphisads Limited, specializing in communications, marketing, and advertising services for public, commercial, and government sectors, aimed to raise ₹53.41 crore through a fresh issue of 48.12 lakh shares. The IPO price was set at ₹111 per share, with a lot size of 1,200 shares, requiring a minimum investment of ₹133,200 for retail investors.
The company plans to utilize the IPO proceeds for repaying certain borrowings, meeting working capital requirements, and covering general corporate expenses.
First Overseas Capital Limited serves as the book running lead manager for the Graphisads IPO, while Kfin Technologies Limited acts as the issue’s registrar. Rikhav Securities functions as the market maker for the IPO.
As for the Graphisads IPO Grey Market Premium (GMP) on the listing day, it stood at ₹0, indicating that shares were trading at the issue price of ₹111 with no premium or discount in the grey market.
Analysts suggest that there has been no significant movement in the GMP, and the trend is expected to remain consistent until the listing day. The Grey Market Premium serves as an indicator of investors’ willingness to pay more than the IPO issue price.
