look news india
New Delhi: People are in shock over the IPO of small company Hariom Flour and Spices. People are betting on the company's IPO. The IPO of Hariom Ata & Spices has increased by more than 52 times on the first day. The company's shares have been making waves in the gray market since then. Shares of Hariom Flour and Spices are trading at a premium of more than 200 percent in the gray market. The company's IPO is open for subscription till May 21, 2024.
The share price of Hariom Flour and Spices in IPO is Rs 48. , In such a situation, the company's shares are trading at a premium of Rs 100 in the gray market. According to this, Hariom Ata's shares may be listed around Rs 148 on the first day. That means investors who will be allotted shares of the company in Hariom Ata's IPO can expect a profit of 209 percent on the day of listing. The allotment of Hariom Ata's IPO shares will take place on May 22. So the shares of the company will be listed in the market on 24 May 2024.
IPO subscribed 52 times on first day
The IPO of Hariom Ata & Spices was subscribed a total of 52.19 times on the first day. The quota of retail investors in the company's IPO has been subscribed 86.09 times. In this way the quota of non-institutional investors has been subscribed 18.25 times. Retail investors can bid for 1 lot in the company's IPO. There are 3000 shares in one lot of IPO. That means the retail investor will have to invest Rs 1.44 lakh. Before the IPO, the promoters' stake in the company was 99.99 percent, which will now increase to 69.95 percent.
what does the company do
Hariom Ata and Spices was started in the year 2018. The company manufactures flour, spices and other food products. The company sells flour, spices, unpolished pulses, grains and mustard oil under the brand name Hariom.