Deem Roll Tech IPO: The initial public offering of steel and alloy rolls manufacturer Deem Roll Tech Ltd, which is going to be closed on Thursday, has received an overwhelming response from investors. Till 4:02 pm on the final day of bidding on Thursday, the Rs 29.26-crore SME IPO received a whopping 248.58 times subscription, garnering bids for 53,54,44,000 shares as against 21,54,000 shares on offer.
The IPO was opened for public subscription on Tuesday, February 20.
The retail category has received 165.03 times subscription and the non-institutional quota got 311.49 times subscription.
The allotment of Deem Roll Tech IPO will take place on February 23, while its listing will take place on the NSE SME on February 27, 2024.
Deem Roll Tech IPO GMP Today
According to market observers, unlisted shares of Deem Roll Tech Ltd are trading Rs 46 higher in the grey market as compared with its issue price. The Rs 46 grey market premium or GMP means the grey market is expecting a 35.66 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Deem Roll Tech IPO Details
Deem Roll Tech IPO is entirely a fresh issue of 22.68 lakh shares. The price of the IPO has been fixed at Rs 129 per share. The minimum lot size for an application is 1,000 shares.
The minimum amount of investment required by retail investors is Rs 1,29,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to Rs 2,58,000.
Fedex Securities Pvt Ltd is the book-running lead manager of the Deem Roll Tech IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Deem Roll Tech IPO is Ss Corporate Securities.
(The story has been updated with the latest subscription data will 4:02 pm)
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