Nanta Tech IPO day 1: The initial public offering (IPO) of audiovisual (AV) integration solutions provider company Nanta Tech opened for public subscription on Tuesday, December 23. The BSE SME IPO is witnessing weak buying interest on the first day of subscription. Meanwhile, grey market sources indicate the stock could list at a nominal premium on the BSE SME platform.
Meanwhile, the company on December 22 said it allotted 3.60 lakh shares to anchor investors at a price of ₹220 per share. Thus, the company raised ₹7.92 crore from anchor investors ahead of the opening of the IPO for public subscription.
Nanta Tech IPO GMP
According to grey market sources, the GMP of Nanta Tech shares was ₹12 on Tuesday morning. This indicates the stock could list at a premium of 5.5% on the BSE SME.
Nanta Tech IPO subscription status
By 2:25 pm on Tuesday, the SME IPO had seen an overall subscription of nearly 0.07 times, with the retail portion booked 0.05 times, and the segment reserved for NIIs subscribed to 0.16 times. QIB’s portion was not booked till that time.
Nanta Tech IPO details
1. Nanta Tech IPO date: The SME IPO opened for subscription on Tuesday, December 23, and will close on Friday, December 26.
2. Nanta Tech IPO price: The price band of the public issue has been fixed at ₹209 to ₹220 per equity share.
3. Nanta Tech IPO objects: According to the RHP, the company will use the net proceeds from the issue for funding capital expenditure requirements towards setting up an experience centre cum product display area. Some parts of the net proceeds will be used to fund working capital requirements and for general corporate purposes.
4. Nanta Tech IPO size: The BSE SME IPO is a fresh issue of 14,46,000 shares to raise ₹31.81 crore. There is no offer for sale (OFS) portion in the issue.
5. Nanta Tech IPO lot size: Retail investors can bid for a minimum and maximum of 1,200 shares.
6. Nanta Tech IPO reservation: The biggest chunk of the issue has been offered to QIBs. They have been offered 6,10,800 shares (42.24% of the net issue). Retail investors have been offered 5,07,600 shares (33.10%), and NIIs have been offered 2,41,200 shares (16.68%).
7. Nanta Tech IPO allotment date: The company is expected to finalise the share allotment on Monday, December 29. Successful bidders can expect shares of the company in their demat accounts on the next business day on Tuesday, December 30, and bidders who fail to get the allocation may get a refund on the same day.
8. Nanta Tech IPO book-running lead manager and registrar: According to the issue’s Red Herring Prospectus (RHP), Smart Horizon Capital Advisors Private Limited is the book-running lead manager, and Bigshare Services Private Limited is the registrar of the Nanta Tech IPO.
9. Nanta Tech IPO listing: The IPO is proposed for listing on the BSE SME on Wednesday, December 31.
10. Nanta Tech business overview: Nanta Tech is engaged in the business of audio visual (AV) integration, supply and distribution of AV products, service robots and software development related services.
“We provide comprehensive, end-to-end AV integration solutions which include system design, integration and management and on-site support,” reads the RHP.
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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.
