Day 2 of the Konstelec Engineers IPO: Verify Subscription Status and GMP Today
Konstelec Engineers IPO: Investors have responded overwhelmingly to Konstelec Engineers Ltd.’s initial public offering (IPO), which was made available for subscription on Friday, January 19. The Rs 28.7-crore SME IPO got 112.01 times subscription up to 3:06 pm on Tuesday, January 23, the second day of bidding. Bids were received for 30,55,58,000 shares compared to 27,28,000 shares.
On Wednesday, January 24, the IPO will end. The Konstelec Engineers initial public offering (IPO) will allocate shares on January 25 and go on sale on January 30.
Presently, Konstelec Engineers IPO GMP
Market watchers report that unlisted shares of Konstelec Engineers Ltd. are selling on the grey market for Rs. 57 more than the company’s issue price. The grey market is anticipating an 81.43 percent listing gain from the public offering, as shown by the Rs 57 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.”
Specifics of Konstelec Engineers’ IPO
The Konstelec Engineers IPO is a new offering of 41 lakh shares, valued at Rs 28.70 crore.
The initial public offering (IPO) pricing range for Konstelec Engineers is set at Rs 66 to Rs 70 per share. A minimum of 2,000 shares is required for an application lot size. Retail investors are needed to invest a minimum of Rs 1,40,000. For HNIs, the minimum lot size investment is two lots (4,000 shares), or Rs 2,80,000.
The Konstelec Engineers IPO’s book-running lead manager is Beeline Capital Advisors Pvt Ltd, and the issue’s registrar is Skyline Financial Services Private Ltd. Spread X Securities is the market maker for Konstelec Engineers’ initial public offering.
