Arrowhead Separation Engineering IPO: Arrowhead Separation Engineering’s initial public offering (IPO), which opened for public subscription on November 16, has received a huge response with a subscription ratio of 72.62 times on the last day of the offering on Monday. Till 2.58 pm, the Rs 13-crore SME IPO received bids for 4,06,27,200 shares against 5,58,000 shares on offer.
The IPO price was fixed at Rs 233 per share. The non-institutional investor category was subscribed 27.05 times, while the retail retail investor (RII) quota was subscribed a whopping 124.54 times. Bids were received for 3,29,400 shares in the qualified institutional buyers (QIBs) section.
The allotment of shares will take place on November 23, while the listing on the BSE SME will take place on November 29.
Arrowhead Separation Engineering IPO GMP
Although the company has received a massive response to its IPO, the dramatic trend is not reflected in its GMP or unlisted gray market share price.
According to market observers, unlisted shares of Arrowhead Seperation Engineering were trading Rs 25 higher in the gray market compared to the issue price. The gray market premium of Rs 25 or GMP means that the gray market expects a listing gain of 10.73 percent from the public issue. The GMP is based on market sentiment and continues to change.
The GMP stood at Rs 75, or almost 32 percent, on the second day of bidding on Friday, November 17.
The ‘gray market premium’ indicates that investors are willing to pay more than the issue price.
Arrowhead Separation Engineering IPO Details
The Rs 13 crore SME IPO price has been set at Rs 233 per share. The minimum lot size is 600 shares. The minimum investment amount required by retail investors is Rs 1,39,800. The minimum investment for lot size for HNI is 2 lots (1,200 shares) worth Rs 2,79,600.
Aryaman Financial Services Limited is the lead manager of the Arrowhead Separation Engineering IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Arrowhead Separation Engineering’s IPO is Aryaman Capital Markets.
About Arrowhead separation technique
Arrowhead Seperation Engineering Limited, established in 1991, is engaged in manufacturing, trading and exporting various types of dryers such as Double Drum Vacuum Dryers, Rotary Dryers, Single Drum Dryers, Double Drum Dryers, Paddle Dryer, Flaker Systems , totally closed single drum dryer, continuous particle dryer, etc.
Revenue during FY23 rose 98.91 per cent to Rs 21.71 crore and profit after tax (PAT) rose 1.69 per cent year-on-year.