Creative Graphics Solutions IPO Attracts Strong Subscription

Creative Graphics Solutions IPO Attracts Strong Subscription//Pixabay

VoM News Desk | April 3, 2024 | 02:17 PM IST | Breaking News | Follow on Google News

Creative Graphics Solutions IPO Attracts Strong Subscription

Creative Graphics Solutions IPO Attracts Strong Subscription

The IPO of Creative Graphics Solutions India Limited, which commenced on March 28 and concludes on April 4, has garnered significant attention from investors. Priced in the range of ₹80 to ₹85 per share, the IPO has seen robust subscription figures, with notable interest across various investor segments.

Subscription Status Update:
As of day 4, the IPO subscription status stands at 12.63 times, indicating strong investor demand. The retail portion has been oversubscribed by 21.47 times, while the non-institutional investor (NII) portion has seen a subscription of 8.85 times. Meanwhile, the Qualified Institutional Buyers (QIB) portion has been subscribed to 2%.

Previous Subscription Trends:
The IPO has witnessed escalating subscription figures since its launch. On day 3, the subscription status was at 9.09 times, rising from 3.50 times on day 2. The retail portion has consistently received overwhelming response, with day 1 witnessing a subscription of 1.72 times.

IPO Details and Grey Market Premium:
With an IPO size of ₹54.40 crore, comprising a fresh issue of 64,00,000 equity shares, the offering has garnered a grey market premium (GMP) of +50. This indicates investors’ willingness to pay a premium of ₹50 per share over the issue price. Considering the strong subscription and positive market sentiment, the estimated listing price is projected at ₹135 per share, marking a significant premium of 58.82% over the IPO price of ₹85.

VoM News Desk

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