Shiv Texchem IPO Day 2 Subscription Status: The Shiv Texchem initial public offering (IPO) has garnered noteworthy attention from investors, continuing its impressive subscription momentum into the second day. As of 1:55 PM on October 9, the issue has been subscribed 7.67 times across all investor categories, indicating robust demand.
The retail investor segment has shown the strongest interest, with a subscription rate of 9.94 times. This is followed by non-institutional investors (NII) who have subscribed at 8.32 times, while qualified institutional buyers (QIB) have entered the market at a rate of 3.22 times.
Out of the total 40,60,800 shares offered, bids have been made for an impressive 3,11,60,000 shares, translating to a significant investment of ₹517.26 crore, as reported by Chittorgarh.com. This strong interest from various segments showcases the investor confidence in Shiv Texchem.
Subscription Breakdown
Retail Investors: Subscribed 9.94 times
Non-Institutional Investors (NII): Subscribed 8.32 times
Qualified Institutional Buyers (QIB): Subscribed 3.22 times
Overall Subscription: 7.67 times
Shiv Texchem IPO Overview
The Shiv Texchem IPO aims to raise ₹101.35 crore through a fresh issue of 61.06 lakh shares. The IPO is positioned to attract a diverse range of investors looking to participate in growing sectors.
Bidding for the IPO commenced on October 8 and will conclude on October 10, 2024. The issue price band has been set between ₹158 and ₹166 per share. Retail investors are required to submit a minimum application for 800 shares, which necessitates an investment of ₹1,32,800. For high net-worth individuals (HNIs), the minimum lot size is 1,600 shares, amounting to ₹2,65,600.
Grey Market Premium Insights
As of October 9, 2024, the grey market premium (GMP) for Shiv Texchem is standing at ₹40. With the cap price of ₹166, the projected listing price is approximately ₹206, suggesting a potential gain of about 24.1% per share for early investors, further enhancing the allure of this IPO.
Listing and Allotment Timeline
The allotment of shares for the Shiv Texchem IPO is anticipated to be finalized on October 11. The company plans to debut on the BSE SME platform on October 15, making it an exciting period for those interested in participating in the stock exchange.
Key Players Involved
Vivro Financial Services Private Limited is serving as the lead manager for the IPO. The registrar of the offer is Link Intime India Private Ltd, and Rikhav Securities is designated as the market maker. These entities play crucial roles in ensuring a smooth IPO process.
Promoters and Anchor Investors
The Shiv Texchem IPO is backed by prominent promoters, including Vikas Pavankumar, Hemanshu S Chokhani, Pavankumar Sanwaria Realty Private Limited, and Hemanshu Syntex Private Limited. The company has successfully raised ₹28.87 crore from anchor investors, providing a solid foundation and credibility for the IPO, which includes a lock-in period of 30 days for half of the shares.
