Check the most recent subscription status and GMP today as the Ramdevbaba Solvent IPO closes today
Ramdevbaba Solvent IPO: Investors have responded rather well to Ramdevbaba Solvent Ltd.’s initial public offering, which will conclude on April 18. The fixed price per share was between Rs 80 and Rs 85. The Rs 50.27-crore SME IPO got 20.99 times subscription up to 10:24 am on the last day of bidding on Thursday, resulting in offers for 8,29,42,400 shares against the 39,52,000 shares on offer.
The public subscription for the Ramdevbaba Solvent IPO began on April 15.
While the section designated for Retail Individual Investors (RIIs) garnered 26.27 times as many subscriptions, the category for non-institutional investors received 35.68 times as many. The QIB category was subscribed to 0.30 times.
The shares of the Ramdevbaba Solvent IPO will be allotted on April 19 and listed on the NSE SME on April 23.
IPO GMP for Ramdevbaba Solvent Today
Market watchers report that unlisted shares of Ramdevbaba Solvent Ltd are selling on the gray market for Rs 27 more than the company’s issue price. The grey market is anticipating a 31.76 percent listing gain from the public offering, as shown by the Rs 27 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.
The willingness of investors to pay above the issue price is shown by the “grey market premium.”
Details of the Ramdevbaba Solvent IPO
The book-built Rs 50.27 crore Ramdevbaba Solvent IPO is a completely new offering of 59.14 lakh shares.
A share’s IPO price range of Rs 80 to Rs 85 has been determined. A minimum of 1,600 shares is required for an application lot size. Retail investors are needed to invest a minimum of Rs 1,36,000. For HNIs, the minimum lot size investment is two lots (3,200 shares), or Rs 2,72,000.
The registrar of the Ramdevbaba Solvent IPO is Bigshare Services Pvt Ltd, while the book-running lead manager is Choice Capital Advisors Pvt Ltd. Choice Equity Broking is the market maker for the Ramdevbaba Solvent IPO.
Physically refined rice bran oil is produced and distributed by Ramdevbaba Solvent Limited, which was founded in 2008. The firm produces, sells, and distributes rice bran oil to fast-moving consumer goods (FMCG) businesses such Empire Spices and Foods Ltd., Marico Limited, and Mother Dairy Fruit & Vegetable Private Limited. Additionally, the company produces, distributes, and sells rice bran oil under the names “Tulsi” and “Sehat” under the supervision of 38 distributors, who then supply different Maharashtra shops.
For the fiscal year 2022-2023, it had a 20.35 percent increase in revenue and a 97.25 percent increase in profit after tax (PAT).
