The Stallion India IPO, which kicked off on January 16, is wrapping up its three-day subscription window today, January 20. With a price band set attractively at Rs 85 to Rs 90 per share, let’s take a look at the subscription status, GMP and other key details of this mainboard issue.
Stallion India IPO: Subscription numbers
As the Stallion India IPO approaches its close today, the issue has been subscribed 109.26 times so far. The retail category has seen a subscription of 73.82 times, while the QIB category has subscribed 25.14 times. The NII category has recorded a subscription of 304.13 times.
Stallion India IPO: GMP
In the grey market, the shares of the company on its final day of subscription is trading at a premium of Rs 43, indicating of a potential listing price of Rs 133 per share, a 47.78% surge from the IPOs upper price band of Rs 90 per share. However, investors should note that grey market premiums are unofficial and can fluctuate based on sentiment and expectations.
Also Read: Rikhav Securities GMP surges over 110% ahead of IPO allotment today
Stallion India IPO: Key offer details
The Stallion India IPO is a book-built issue valued at Rs 199.45 crores. It is a mixed issue comprising of two parts, a fresh issue of 1.79 crore shares worth Rs 160.73 crores, and an offer for sale of 0.43 crore shares worth Rs 38.72 crores.
For retail investors, the minimum lot size is 165 shares, amounting to Rs 14,850. For Small and Non-Institutional Investors (sNII), the lot size is 14 lots (2,310 shares), amounting to a sum of Rs 2,07,900. Meanwhile, Big and Non-Institutional Investors (bNII) need to invest in 68 lots (11,220 shares), which comes to R 10,09,800.
Stallion India IPO: Proceeds utilisation
A large chunk of the funds raised through this IPO will go towards capital expenditure and working capital needs.
The company plans to use the net proceeds of the fresh issue for incremental working capital requirements, Capital expenditure for new facilities and general corporate Purposes.
Ahead of the public issue, Stallion India raised Rs 59.84 crore from anchor investors. The anchor bid date for this IPO was January 15.
Stallion India IPO: Allotment and listing
After the closure of the bidding window,
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