Sharvaya Metals IPO: The initial public offering (IPO) of Sharvaya Metals, which kicked off on Thursday, September 4, sailed through on the first day of the bidding process.
The issue, however, will remain open for bidding till Monday, September 9.
Sharvaya Metals IPO Subscription Status
As of 3.10 pm, Sharvaya Metals IPO was booked 1.20 times. The retail portion was booked 1.37 times, while the non-institutional investor (NII) part was subscribed 1.22 times. Lastly, the qualified institutional buyer (QIB) quota received 0.90 times bids so far.
10 key things about Sharvaya Metals IPO
Before applying for the public offer, investors must know these key details:
Sharvaya Metals IPO Dates: The issue opened for bidding on Thursday, September 4 and will close on Monday, September 9. Meanwhile, the allotment for Sharvaya Metals IPO is expected to be finalised on September 10.
Sharvaya Metals IPO Price Band: The IPO is priced in the range of ₹192 to ₹196 per share.
Sharvaya Metals IPO Size: The company is looking to raise ₹58.80 crore at the upper end of the price band of the issue.
Sharvaya Metals IPO Structure: Sharvaya Metals IPO is a mix of fresh issue of ₹49 crore and an offer for sale of ₹9.80 crore.
Sharvaya Metals IPO Lot Size: Investors can apply for the IPO in lots of 600 shares. Retail investors need to apply for at least two lots, needing an investment of ₹2,35,200 at the upper end of the price band.
Sharvaya Metals IPO Objective: The company plans to use the funds raised from the share sale for meeting working capital needs, funding capex for civil construction and electrification, financing plant and machinery and for general corporate purposes.
Sharvaya Metals IPO GMP: Sharvaya Metals IPO GMP today is ₹22. At the prevailing GMP and issue price, shares of Sharvaya Metals could list at ₹218, a premium of 11.22%.
Sharvaya Metals IPO Listing Details: Shares of Sharvaya Metals are expected to list on the BSE SME platform on September 12.
Sharvaya Metals IPO BRLM: Expert Global Consultants is the book running lead manager and Bigshare Services is the registrar of the issue.
About Sharvaya Metals: Sharvaya Metals specialises in manufacturing, supplying, and exporting aluminum products, including alloyed ingots, billets, slabs, sheets, and electric vehicle battery enclosures.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
