Sheetal Universal IPO: Check allotment date, final subscription status and GMP today.
Unlisted shares of Sheetal Universal Ltd are trading Rs 12 higher on the gray market, which is a listing gain of 17.14 percent over the public issue
Sheetal universal IPO: The IPO of Sheetal Universal Ltd, which was opened for public subscription between December 4 and 6, received as many as 179.20 subscriptions till the last day of bidding. The Rs 23.80 crore SME IPO received bids for 57,84,44,000 shares, compared to 32,28,000 shares on offer. The IPO allocation is likely to be completed today, Thursday.
The category meant for non-institutional investors received subscriptions 212.55 times, while the quota for retail retail investors (RIIs) received a whopping 129.73 subscriptions.
Sheetal Universal's IPO is likely to be listed on NSE SME on December 9, while the allotment of shares is likely to be completed on December 7.
The IPO price of Sheetal Universal SME was set at Rs 70 per share.
Sheetal Universal IPO GMP today
According to market observers, unlisted shares of Sheetal Universal Ltd continue to trade Rs 12 higher in the gray market compared to the issue price. The gray market premium of Rs 12 or GMP means that the gray market expects a listing gain of 17.14 percent from the public issue. The GMP is based on market sentiment and continues to change.
The 'gray market premium' indicates that investors are willing to pay more than the issue price.
Sheetal Universal IPO: Check allotment status
Once the share allocation is completed on Thursday, investors can view their IPO allocation here:
Step 1: Visit https://ipo.bigshareonline.com/IPO_Status.html
Step 2: Select the company 'Sheetal Universal Limited'
Step 3: Under 'Selection Type', choose one option from 'PAN Number', 'Beneficiary ID' and 'Application Number'.
Step 4: Provide relevant details about the option chosen in step 3.
Step 5: Enter Captcha and click the 'Search' button.
You will now get the status of your IPO allocation.
Sheetal Universal IPO Details
The IPO included a fresh issue of 32,28,000 equity shares for public subscription of face value of Rs 10 each. The company fixed the price band at Rs 70 per equity share for the IPO.
For investors, the minimum lot size for the IPO was 2,000 shares. The minimum investment amount required by retail investors was Rs 1,40,000. The minimum investment for lot size for HNI was 2 lots (4,000 shares) at a cost of Rs 2,80,000.
Proceeds from the issuance will be used to finance capital expenditures, working capital needs, general corporate purposes and to meet public issue expenses.
Beeline Capital Advisors Pvt Ltd is the lead manager of the Sheetal Universal IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Sheetal Universal IPO is Spread X Securities.
The company's revenue in FY23 stood at Rs 131.65 crore, while profit after tax stood at Rs 1.98 crore.