Over 155 Times Subscription Is Received for Veritaas Advertising IPO: Examine GMP Right Now
Veritaas Advertising IPO: Investors have responded overwhelmingly to Veritaas Advertising Ltd.’s initial public offering, which is scheduled to conclude on May 15. The Rs 8.48-crore SME IPO obtained an astonishing 156.99 times subscription until 10:37 am on the last day of bidding on Wednesday, resulting in offers for 8,36,43,600 shares as opposed to 5,32,800 shares on sale.
The non-institutional investor (NII) category obtained a subscription of 136.49 times, whilst the retail group garnered an astounding 277.26 times. QIB received 1.1 times as many subscriptions.
On May 13, the Veritas Advertising IPO went live for public subscription. The listing on the NSE SME will happen on May 21, and the share allotment is probably going to be finalized on May 16.
The first public offering’s price range was set at Rs 109–Rs 114 per share.
Veritas Marketing IPO GMP Currently
Market watchers report that unlisted shares of Veritaas Advertising Ltd. are selling on the grey market for Rs 110 more than the company’s issue price. The grey market anticipates a robust 96.49% listing gain from the public offering, as shown by the Rs 110 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.”
Concerning Veritas Advertising’s IPO
7.44 lakh shares are being issued fully new in the Veritaas Advertising IPO. The pricing range for the Veritaas Advertising IPO is Rs 109 to Rs 114 per share.
An application must have a minimum lot size of 1,200 shares. Retail investors are needed to invest a minimum of Rs 1,36,800. For HNIs, the minimum lot size investment is two lots (2,400 shares), or Rs 2,73,600.
The Veritas Advertising IPO’s book-running lead manager is Horizon Management Private Limited, while the issue’s registrar is Mas Services Limited. The Veritas Advertising IPO is being market-made by Horizon Financial Consultants.
Founded in 2018, Veritas Advertising Limited is a full-service advertising firm offering 360-degree solutions across a range of media. One of the few marketing and advertising organizations that owns media, the business has advertising spots in West Bengal, Guwahati, and Shillong. The business has operations in Pune, Mumbai, and Delhi as well.
