As the new year kicks off, several companies have initiated their Initial Public Offerings (IPOs), including Maxposure, a media and entertainment company. Maxposure's IPO, categorized as an SME IPO, has witnessed enthusiastic investor participation, with bids surpassing 190 times the offered shares.
Subscription Details: By the second day of the subscription period, the IPO garnered an overwhelming response, with a total subscription of 190.43 times. Investors bid for 77.46 crore shares against the total offering of 40.68 lakh shares. Notably, all shares offered in this IPO are fresh issuances.
Category-wise Bidding: National Stock Exchange witnessed the highest bids from retail investors, with a subscription of up to 298.55 times the reserved portion by January 16, 2024. Non-Institutional Buyers subscribed up to 176.69 times, while Qualified Institutional Investors subscribed up to 6.79 times the reserved quota.
IPO Details: The IPO subscription window remains open until January 17, 2024. Investors have until today to subscribe to the IPO, with the company set to allocate shares on January 18, 2024. Unsuccessful bidders will receive refunds on January 19, while successful investors will have the shares credited to their demat accounts on the same day. The listing of shares on the NSE SME is scheduled for January 22, 2024.
Lot Size and Price Band: Maxposure has set the lot size at 4,000 shares, and the price band for each share is fixed between Rs. 31 and Rs. 33. This allows retail investors to invest up to Rs. 1,32,000 in the IPO.
GMP and Expected Listing: As of January 17, 2024, Maxposure's shares are available at a premium of Rs. 60. This indicates a potential listing price of Rs. 93 per share, providing a strong signal of substantial gains for investors. The IPO reserves 15% for retail investors, 50% for qualified investors, and 35% for non-institutional buyers.
Maxposure's IPO has become a focal point for investors, reflecting the buoyant market sentiment. With robust subscription numbers and a positive GMP, the IPO seems poised for a successful listing, offering significant earning potential for investors.
Post a Comment