Today’s IPO for Owais Metal and Minerals closes; check subscription status and GMP today
Owais Metal and Mineral IPO: Investors have responded overwhelmingly to Owais Metal and Mineral Processing Ltd.’s initial public offering, which is scheduled to conclude on February 28. The Rs 42.69-crore SME IPO attracted 128.85 times as many subscriptions till 2:02 pm on Wednesday, February 28, the last day of bidding. Bids were received for 24,90,40,000 shares compared to the 31,95,200 shares that were offered.
The public might sign up for the Owais Metal and Mineral IPO on February 26. The initial public offering’s price range is set at between Rs 83 and Rs 87 per share.
The non-institutional quota garnered 146.89 subscriptions, while the retail sector obtained 176.10 subscriptions. There have been 32.49 subscriptions to the QIB quota.
On February 29, the Owais Metal and Mineral IPO will be allotted, and on March 4, 2024, it will be listed on the NSE SME.
IPO GMP for Owais Metal and Mineral Today
Market watchers report that unlisted shares of Owais Metal and Mineral Processing Ltd are selling on the grey market for Rs 130 more than the company’s issue price. Given the public issue, the grey market anticipates a listing gain of 149.43%, as shown by the Rs 130 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 Owais Metal & Mineral’s IPO
49.07 lakh shares are being issued fully new in the Owais Metal and Mineral Processing IPO. The price range for each share is fixed at Rs 83 to Rs 87.
A minimum of 1,600 shares is required for an application lot size. Retail investors are needed to invest a minimum of Rs 1,39,200. For HNIs, the minimum lot size investment is two lots (3,200 shares), or Rs 2,78,400.
Bigshare Services Pvt Ltd is the registrar of the Owais Metal and Mineral Processing IPO, while Gretex Corporate Services Limited is the book-running lead manager. Gretex Share Broking is the market maker of the Owais Metal and Mineral Processing IPO.
