![]() There is one small point to remember here. GMP can also technically be in negative, which means the stock would list at a discount to the issue price. Secondly, the extent of subscription for the IPO has a deep impact on the GMP as it is indicative of investor interest in the stock. Firstly, the market conditions have a deep impact on the GMP, especially the liquidity conditions in the market. In the case of Jiwanram Sheoduttrai Industries Ltd, we already have GMP data for the last 2 days, which should give a reasonable picture of the likely listing. The grey market price (GMP) trading normally starts about 4-5 days prior to IPO opening and continues till the listing date. About the GMP pricing for Jiwanram Sheoduttrai Industries IPO This is the segment, in contrast to the mainboard, where IPOs of small and medium enterprises (SMEs) are incubated. In addition, the demat credits are expected to happen on 20th September 2023 and the stock is scheduled to list on 21st September 2023 on the NSE SME segment. The basis of allotment will be finalized on 15th September 2023 and the refunds will be initiated on 18th September 2023. The issue opens for subscription on 08th September 2023 and closes for subscription on 12th September 2023 (both days inclusive). However, the normal practice is to allocate nearly 5% of the overall issue size to the market makers. In this case, the market makers are yet to be appointed and the market quota is yet to be designated. The Market maker typically provides buy and sell quotes post listing to ensure liquidity and low basis risk in the stock. Like in every SME IPO, Jiwanram Sheoduttrai Industries IPO also has a market maker. ![]() Not more than 47.50% of net Offer (net of MM) Not less than 47.50% of net Offer (net of MM) The IPO is a fixed price issue with the price already set at ₹23 per share. The non-retail portion will predominantly comprise of the HNI / NII investors and to a lesser extent some QIB investors too. Out of the net offer (net of the market marking portion), 50% of the net offer is reserved for retail investors and the balance 50% for the non-retail investors. ApplicationĪs per the terms of the offer, there will be an approximate 5% allocation to the market makers for offering stability in price and liquidity post listing. The table below captures the lot sizes permissible. HNIs, NIIs can bid for minimum of 2 lots of 12,000 shares entailing an investment of ₹276,000. That is also the maximum that a retail investor can bid in the IPO. The stock of Jiwanram Sheoduttrai Industries IPO has a face value of ₹10 and bidders can only bid in minimum lot size of 6,000 share each, entailing a minimum investment of ₹138,000 in the IPO at the fixed IPO price of ₹23 per share. ![]() How to apply for the Jiwanram Sheoduttrai Industries IPO Since there is no OFS component in the IPO, the fresh issue size of ₹17.07 crore is also the size of the overall IPO. The fresh issue portion of the IPO entails the issue of 74.22 lakh shares which at the fixed IPO price of ₹23 is worth ₹17.07 crore. It is a fixed price IPO with the IPO price fixed at ₹23 per share. Jiwanram Sheoduttrai Industries IPO worth ₹17.07 crore comprises entirely of a fresh issue with no offer for sale (OFS) component in the IPO from promoters and early shareholders.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |