Sellowrap Industries IPO in focus today: The IPO of Sellowrap Industries, which opened for bidding on Friday, witnessed healthy investor interest on its second day. The issue received bids for 1.04 crore shares against the 24.30 lakh shares on offer, resulting in a total subscription of 4.29 times at the end of Day 2.
The retail investor segment was subscribed 5.70 times, while the non-institutional investor (NII) category saw 6.67 times subscription. The Qualified Institutional Buyer (QIB) portion has not yet opened for bidding.
The company plans to utilize the net proceeds from the issue towards capital expenditure for the purchase of plant and machinery, infrastructure development, and other auxiliary equipment, as well as funding working capital requirements and general corporate purposes.
Sellowrap Industries issues details
1. Sellowrap Industries IPO date: The issue opened for subscription on Friday, July 25, and will conclude on Tuesday, July 29.
2. Sellowrap Industries IPO Price: The price band of the IPO has been fixed between ₹79 and ₹83 per equity share.
3. Sellowrap Industries IPO Size: The company aims to raise ₹30.28 crore through the IPO, which is a fresh issue of 36.48 lakh shares.
4. Sellowrap Industries IPO Lot Size: The IPO lot size is fixed at 3,200 shares, requiring a minimum investment of ₹265,600 for retail investors.
5. Sellowrap Industries IPO reservation: The IPO offers 6.91 lakh shares to QIB, 5.23 lakh shares were reserved for non-institutional buyers, and 12.16 lakh shares to retail investors.
6. Sellowrap Industries IPO allotment date: The IPO allotment date is set for Wednesday, July 30. Investors who receive an allotment will see the shares in their demat accounts by Thursday, July 31, while those who do not will have their refunds processed on the same day.
7. Sellowrap Industries IPO listing: The SME IPO is proposed to list on the NSE SME on Friday, August 01.
8. Sellowrap Industries IPO GMP: According to market sources, the GMP of the Sellowrap Industries IPO on Monday was 18, indicating that the stock is likely to list at ₹101 apiece, 22% higher than the upper band issue price of ₹83.
9. Sellowrap Industries IPO book-running lead manager and registrar: Gretex Corporate Services Limited is the book-running lead manager of the Sellowrap Industries IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Sellowrap Industries IPO is Gretex Share Broking Private Limited.
10. Sellowrap Industries overview: Incorporated in 1983, Sellowrap Industries Limited engages in the manufacturing of components for the automotive and white goods sectors. The company provides adhesive and non-adhesive components, focusing on quality, cost-efficiency, and customer value.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
