GB Logistics IPO and HM Electro Mech IPO have opened for subscription today, January 24. Both an SME issue, has drawn significant attention in the grey market. Let’s take a look at the key details of the two issues from GMP to subscription status.
GB Logistics Vs HM Electroc Mech IPO: Subscription status
As on day 1, GB Logistics has been subscribed 4.11 times overall. The retail portion has been subscribed 3.34 times, the QIB category is 7 times subscribed, and the NII portion stands at 2.07 times.
H.M. Electro Mech IPO is subscribed 4.87 times. In terms of categories, the retail portion subscribed 8.65 times. The NII portion has been subscribed 2.54 times.
GB Logistics Vs HM Electroc Mech IPO: GMP
As per the latest trend, the shares of GB Logistics is trading at premium of Rs 21, indicating a potential listing price of Rs 123 per share, a 20.59% higher over the IPOs upper price band of Rs 102 per share.
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On the flip side, the shares of HM Electroc Mech is trading at Rs 24, suggesting of an estimated listing price of Rs 99 per share. This is 32% higher over the issue upper price band of 75 per share.
However, GMP is not the actual listing price and may fluctuate based on market sentiment.
GB Logistics Vs HM Electroc Mech IPO: Lot size
GB Logistics is raising Rs 25.07 crores through a fresh issue of 24.58 lakh shares. The price band for this IPO is set between Rs 95 and Rs 102 per share. On the other hand, H.M. Electro Mech’s IPO also stands at Rs 27.74 crores, with a fresh issue of 36.99 lakh shares. The price band for this issue is Rs 71 to Rs 75 per share.
GB Logistics Vs HM Electroc Mech IPO: Investment requirements
For GB Logistics IPO, retail investors can apply for a minimum lot of 1,200 shares, which amounts to an investment of Rs 1,22,400. High-net-worth individuals (HNIs) are required to apply for 2 lots (2,400 shares), amounting to Rs 2,44,800. Similarly, on the other hand, retail investors are required to apply for a minimum of 1,600 shares, equating to Rs 1,20,000 in investment.
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