Shri Balaji Valve Components Limited’s initial public offering (IPO) has garnered significant interest from investors, with the subscription reaching 13.77 times on the second day of bidding, December 28. The IPO, which opened on December 27, is set to close on December 29.
**Subscription Status:**
– The IPO received bids for 1,97,28,000 shares against the offered 14,32,800 shares.
– Retail investors demonstrated strong interest, subscribing 16.15 times, with bids for 1,15,72,800 shares against the 7,16,400 shares available for this segment.
– Non-institutional investors (NIIs) showed robust demand, subscribing 18.29 times, as bids for 56,19,600 shares were received against the 3,07,200 shares on offer for the segment.
– Qualified institutional buyers (QIBs) subscribed 6.20 times, with bids for 25,35,600 shares against the 4,09,200 shares available for this segment.
On the first day of bidding, the IPO was subscribed 2.62 times.
**Details of Shri Balaji Valve Components IPO:**
– The IPO is a fresh issue of 2,160,000 equity shares, amounting to ₹21.60 crore, with no offer for sale (OFS) component.
– The price band is set between ₹95 to ₹100, and the lot size is 1,200 shares, allowing investors to bid in multiples thereof.
– The company intends to utilize the proceeds for general corporate purposes, working capital requirements, and financing capital expenditures for additional plant and machinery.
– The tentative schedule includes the finalization of the basis of allotment on January 1, refunds initiation on January 2, and the crediting of shares to demat accounts on the same day.
– The likely listing date for Shri Balaji Valve Components shares on BSE SME is January 3.
**Grey Market Premium (GMP):**
– The Grey Market Premium for Shri Balaji Valve Components Limited IPO stands at ₹30, indicating that shares are trading at a premium of ₹30 over the issue price of ₹100 in the grey market.
The IPO has generated notable interest across investor categories, and the positive grey market premium suggests a willingness among investors to pay a premium for the shares. As the subscription period concludes, the focus will shift to the basis of allotment and the subsequent listing of Shri Balaji Valve Components on BSE SME.
