Today is the closure of Storage Technologies Racks and Rollers IPO. Verify Subscription Status Now, GMP
Storage Technologies: Racks and Rollers : Storage Technologies and Automation Ltd., a company that manufactures storage racking systems, is set to conclude its initial public offering on Friday after receiving an overwhelmingly positive response to its bids. On May 3, the last day of bidding, at 11:05 am, the Rs 29.95-crore initial public offering (IPO) garnered 59.76 times its subscription, with offers for 15,24,06,400 shares against the 25,50,400 shares that were offered.
Non-institutional investors subscribed to the category 87.45 times, while retail individual investors (RIIs) subscribed to the fraction 81.90 times. Fifteen percent of subscriptions were in the QIB category.
On Tuesday, April 30, the public subscription for the Storage Technologies Racks and Rollers initial public offering was launched.
The IPO’s price range was set at Rs 73–Rs 78 per share. Its listing on the BSE SME is expected to happen on May 8, and its share allotment will be finalized on May 6.
Racks and rollers for storage technologies: IPO GMP Today
Market watchers report that the gray market is seeing unlisted shares of Storage Technologies Racks and Rollers Ltd trade for Rs 49 more than the issue price. The grey market anticipates a 62.82 percent listing gain from the public offering, as shown by the Rs 49 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.
The premium of Rs 49 today surpasses the Rs 35 premium that was registered on Thursday.
The willingness of investors to pay above the issue price is shown by the “grey market premium.”
Racks and Rollers IPO for Storage Technologies
The whole 38.4 lakh shares offered in the Rs 29.95 crore Storage Technologies Racks and Rollers IPO are new issues.
The SME IPO’s subscription period began on April 30, 2024, and it ends on May 3, 2024.
The minimum lot size for an application is 1,600 shares for investors. Retail investors are needed to invest a minimum of Rs 1,24,800. For HNIs, the minimum lot size investment is two lots (3,200 shares), or Rs 2,49,600.
The bookrunner, lead manager and registrar for the Storage Technologies Racks and Rollers initial public offering are Oneview Corporate Advisors Private Limited and Integrated Registry Management Services Private Limited, respectively. Nikunj Stock Brokers is the market maker for the Storage Technologies Racks and Rollers IPO.
In the fiscal year 2022-2023 of Storage Technologies & Automation Ltd., net profit climbed by 335.72% while sales increased by 16.42%.
Storage racking systems are the business of October 2010-founded Storage Technologies and Automation Limited. The business creates and installs automated warehouses, metal storage racks, and other storage systems. The business offers storage solutions to a number of sectors, including FMCG, oil and gas, automotive, aerospace, food and beverage, pharmaceutical, textile, and retail.
