look news india
New Delhi: The IPO of small company Energy Mission Machinery is getting tremendous response. The IPO of Energy Mission Machinery has been fully booked on the very first day. The company's IPO opened for subscription on May 9 and was oversubscribed 7 times on the first day. The IPO of Energy Machinery will remain open till May 13. The total size of the company's public issue is Rs 41.15 crore. Shares of Energy Mission Machinery are facing a setback in the gray market.
Shares of the company may be listed above Rs 275.
The share price of Energy Mission Machinery's IPO is Rs 138. Therefore, the company's shares are currently trading at a premium of Rs 140 in the gray market. The gray market premium of Energy Mission Machinery shares suggests that the company's shares may be listed around Rs 278. That means investors who will be allotted shares of the company in the IPO can expect more than 100 percent profit on the day of listing. The allotment of Energy Mission Machinery's IPO shares will be finalized on May 14. So the shares of the company will be listed in the market on Thursday, 16 February 2024. The company's shares will be listed on the SME platform of the National Stock Exchange.
IPO subscribed more than 7 times
Energy Mission Machinery IPO has been subscribed 7.17 times on the first day. The quota of retail investors in the company's IPO has been subscribed 10.79 times. While the stake in non-institutional investors (NII) category has increased by 4.90 times. At the same time, the Qualified Institutional Buyers (QIB) quota has been subscribed 2.51 times. Retail investors can bid for 1 lot in the company's IPO. One lot of IPO consists of 1000 shares. That means the retail investor will have to invest Rs 1.38 lakh in the company's IPO.