MV Electrosystems is likely to finalize the basis of allotment of its shares on Tuesday, August 4. The company's initial public offering (IPO), which was open for bidding between July 30 and August 3, received a bumper response from investors.
The IPO, priced in the range of Rs 400-425 per share, aimed to raise Rs 290 crore through a fresh issue of up to 68,23,528 equity shares. The issue was subscribed 188.85 times, with bids worth over Rs 32,000 crore from nearly 37.77 lakh applications.
The quota for qualified institutional bidders (QIBs) was subscribed 90.47 times, while non-institutional investors (NIIs) and retail investors saw subscription of 374.58 times and 205.42 times, respectively. Based on the bidding, the probability of allotment in the retail category is 0.59 per cent, meaning one out of 167 applicants may get shares.
In the grey market, the premium (GMP) for MV Electrosystems shares has recovered to Rs 100, indicating a listing gain of 23-24 per cent. During the bidding period, the GMP was around Rs 120-130.
Investors can check the allotment status on the BSE website (bseindia.com/investors/appli_check.aspx) or NSE website (nseindia.com/invest/check-trades-bids-verify-ipo-bids). The registrar, KFin Technologies, also provides an online portal (kosmic.kfintech.com/ipostatus) for checking the status.
स्रोत: businesstoday.in
