Vivid Electromech IPO day 3: The initial public offering (IPO) of electrical panels and automation systems manufacturer, Vivid Electromech, which opened for public subscription on Wednesday, March 25, is concluding today (Monday, March 30).
The SME IPO so far has seen a mild response from investors, while grey market sources say the stock may list at par with the issue price.
Vivid Electromech IPO GMP
According to grey market sources, the grey market premium (GMP) of Vivid Electromech shares on Monday morning was nil. This indicates the stock could list at par with the issue price of ₹555 on the NSE SME.
Vivid Electromech IPO subscription status
By 10:50 am on Monday, the SME IPO had seen an overall subscription of 0.67 times, with the retail portion booked 0.16 times. However, the NII and QIB segments had been fully subscribed till then.
Vivid Electromech IPO details
With a price band of ₹528 to ₹555 per share, Vivid Electromech IPO opened last Wednesday and is concluding on Monday.
The SME IPO is a book build issue, combining a fresh issue of 18,84,000 shares aggregating to about ₹105 crore and an offer for sale (OFS) of 4,68,000 shares for nearly ₹26 crore.
Hem Securities is the book-running lead manager, and MUFG Intime India is the registrar of the Vivid Electromech IPO.
Share allotment is expected to be finalised on Thursday, April 2. Shares of the company may be credited to the demat accounts of successful bidders on Monday, April 6, due to stock market holidays on April 3-5. The stock is to list on the NSE SME on Tuesday, April 7.
As per the Red Herring Prospectus (RHP) of the issue, Vivid Electromech manufactures low-voltage (LV) and medium-voltage (MV) electrical panels and automation systems, catering to sectors such as data centre and technology, infrastructure, construction and real estate, including metro projects, solar and renewable energy, industrial manufacturing and machinery, etc.
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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.
