Simca Advertising IPO Day 3: The initial public offering (IPO) of Simca Advertising, which entered its last day of bidding today, 12 May, has seen a strong demand from investors so far. The SME IPO is also tracking attention in the grey market, the latest trends show.
The offer by the advertising agency had opened for bidding last Friday, 8 May, looking to raise ₹58.04 crore from investors. The offer is entirely a fresh issue of shares priced at ₹174 to ₹183 apiece.
Investors can apply for the offer in lots of 600 shares. For retail investors, the minimum investment is two lots amounting to ₹2,19,600.
The company plans to use the proceeds from the share sale for the purchase and installation of LED scenes, funding strategic collaboration with Capital World Media Services for monetisation of 20 LED advertising screens, meeting incremental working capital needs and general corporate purposes.
The allotment for Simca Advertising IPO is slated to be finalised on 13 May, with the listing likely on the NSE SME platform on 15 May.
Simca Advertising IPO Subscription Status
Simca Advertising IPO was booked 10.60 times so far on the third day of the bidding process as of 11 am. The individual portion of the offer was booked 10.66 times, while the non-institutional investor (NII) quota was subscribed 9.63 times.
Meanwhile, the qualified institutional buyer (QIB) segment saw 12.53 times bids.
Simca Advertising IPO GMP
The grey market premium (GMP) for Simca Advertising IPO jumped on the final day of subscription, according to data from investorgain. com.
Simca Advertising IPO GMP today is ₹31 as against ₹30 on Monday and ₹14 a day before that, signalling growing investor interest in the counter. At the current GMP, Simca Advertising IPO listing price could be ₹214, suggesting a listing pop of 16.9%.
About Simca Advertising
Simca Advertising, established in 2022, provides advertising services, with a focus on Out-of-Home media in the city of Maharashtra.
The company provides a range of OOH advertising options, including hoardings, gantries, bus panels, shelters, kiosks, utilities, and vinyl signage, to help brands connect with audiences in public spaces.
It has a diversified client base across multiple sectors, including advertising agencies, entertainment, real estate, fashion and lifestyle, insurance, and government organisations.
Socradamus Capital is the book-running lead manager, and MUFG Intime India is the registrar of the issue.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
