Sheetal Universal IPO: Check Subscription Status, GMP Today.
Unlisted shares of Sheetal Universal Ltd are currently trading Rs 12 higher on the gray market, translating to a listing gain of 17.14 per cent from the public issue.
Sheetal universal IPO: The IPO of Sheetal Universal Ltd, which opened for public subscription on Monday, will close on Wednesday, December 6. Till the end of the second day of bidding on Tuesday, the SME IPO has received a decent 20.54 times subscription , with bids being made for 6,63,12,000 shares compared to 32,28,000 shares.
The category meant for non-institutional investors received 14.05 times subscriptions, while the quota for retail retail investors (RIIs) received a whopping 23.01 times subscriptions.
The price of the Rs 23.80-crore Sheetal Universal SME IPO was set at Rs 70 per share.
Sheetal Universal IPO GMP today
According to market observers, unlisted shares of Sheetal Universal Ltd were trading Rs 12 higher than the issue price in the gray market. 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.
The IPO of Net Avenue Technologies is likely to be listed on NSE SME on December 9, while the allotment of shares is likely to take place on December 7.
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 is 2,000 shares. The minimum investment amount required by retail investors is Rs 1,40,000. The minimum investment for lot size for HNI is 2 lots (4,000 shares) worth 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.