Manoj Ceramic’s IPO Allotment and Subscription Details Unveiled

Manoj Ceramic's IPO Allotment and Subscription Details Unveiled

VoM News Desk | January 1, 2024 | 01:06 PM IST | Breaking News | Follow on Google News

Manoj Ceramic’s IPO Allotment and Subscription Details Unveiled

Manoj Ceramic’s IPO Allotment and Subscription Details Unveiled

Manoj Ceramic Ltd., a ceramic tiles trader, recently concluded its initial public offering (IPO) on December 27, 2023, garnering notable market demand. The company’s IPO allotment, anticipated to be finalized today, has investors eagerly awaiting the outcome.

The IPO, categorized as an SME IPO, witnessed subscriptions opening from December 27, 2023, and closing on December 29, 2023. It is expected that Manoj Ceramic IPO’s allotment date, set for January 1, 2024, will offer clarity to investors regarding share allocations. These shares are slated to list on BSE SME with a tentative listing date fixed on January 3, 2024.

Interested parties can track their Manoj Ceramic IPO allotment status through the IPO registrar’s website, Purva Sharegistry India Pvt Ltd, or on the BSE website. To check the status on the registrar’s site, applicants can follow a step-by-step guide provided, entering either their Application No or PAN details.

Market observers reported that the grey market premium (GMP) for Manoj Ceramic IPO currently stands at ₹0 per share, implying that the company’s shares are trading at their issue price of ₹62 per share without any premium or discount. However, this GMP serves as an indicator of the unlisted market’s performance and can swiftly fluctuate.

The IPO, valued at ₹14.47 crore, constitutes a fixed price issue of 23.34 lakh equity shares at ₹62 per share. Impressively, the IPO was oversubscribed 9 times in total, with the retail category experiencing a subscription of 10.73 times and the Other category 7.28 times.

Swaraj Shares and Securities Pvt Ltd led the IPO as the book running lead manager, while Purva Sharegistry India Pvt Ltd acted as the issue’s registrar. Additionally, Shreni Shares served as the market maker for the IPO. Manoj Ceramic intends to utilize the IPO proceeds for working capital expenses and general corporate purposes.

Established in 1991, Manoj Ceramic trades in ceramic tiles and tile adhesives under the brand name “MCPL,” outsourcing tile production to a third-party manufacturer.

VoM News Desk

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