Holmarc Opto-Mechatronics IPO Receives Strong Response on Second Day

Holmarc Opto-Mechatronics IPO Receives Strong Response on Second Day

VoM News Desk | September 18, 2023 | 11:18 AM IST | Breaking News | Follow on Google News

Holmarc Opto-Mechatronics IPO Receives Strong Response on Second Day. Image/ Company Website

The initial public offering (IPO) of Holmarc Opto-Mechatronics Ltd, a manufacturer of scientific and engineering instruments, has garnered substantial interest from investors, achieving full subscription on the very first day of the bidding process.

Holmarc Opto-Mechatronics IPO Subscription Status

As of the second day of the subscription period, the Holmarc IPO has achieved a subscription rate of 5.77 times. Investors have submitted bids for 1.56 crore equity shares, surpassing the available 27.06 lakh shares on offer, according to data from NSE up to 3:55 pm. Notably, the retail category has shown strong interest with a subscription rate of 9.70 times, while the Non-Institutional Investors’ (NII) category has been subscribed 1.82 times.

Key Details of Holmarc Opto-Mechatronics IPO

The Holmarc Opto-Mechatronics IPO opened for public subscription on September 15 and is set to close on September 20. The share allotment is expected to be finalized on September 25, with refund initiation on September 26. Eligible allottees can anticipate the credit of shares to their demat accounts on September 27. The listing of Holmarc Opto-Mechatronics shares on NSE SME is anticipated on Thursday, September 28.

The price band for the Holmarc IPO has been fixed at ₹40 per share, with the public offer consisting entirely of a fresh issue of 28.50 lakh equity shares. Holmarc Opto-Mechatronics Ltd aims to raise ₹11.40 crore through this public offering. The lot size for Holmarc IPO is 3,000 shares, with a minimum investment requirement of ₹1,20,000 for retail investors. Finshore Management Services serves as the book running lead manager for the IPO, and Cameo Corporate Services is the IPO registrar.

Grey Market Premium (GMP) for Holmarc Opto-Mechatronics IPO

Market observers have noted a grey market premium (GMP) of ₹5 per share for the Holmarc Opto-Mechatronics IPO. This suggests that Holmarc shares are trading ₹5 higher than their issue price in the grey market. Based on the current GMP, it is estimated that Holmarc Opto-Mechatronics shares may debut at ₹45 apiece on NSE SME, representing a 12.5% premium over the issue price.

With robust subscription figures and a positive GMP, investor sentiment appears favorable for the forthcoming listing and trading of Holmarc Opto-Mechatronics shares.

VoM News Desk

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