Master Components SME IPO Opens for Public Subscription

Master Components SME IPO Opens for Public Subscription

VoM News Desk | September 18, 2023 | 10:32 AM IST | Breaking News | Follow on Google News

Master Components SME IPO Opens for Public Subscription. Image/Company Website

Engineering Components Manufacturer Goes Public

Master Components Ltd, an engineering components manufacturer, has opened its initial public offering (IPO) for public subscription on Monday, September 18, 2023.

IPO Details

This is an SME IPO, and it’s a fixed-price issue. The company aims to raise ₹15.43 crore through the IPO. The IPO comprises a fresh issue of 7 lakh equity shares, aggregating to ₹9.80 crore, and an offer for sale (OFS) of 4.02 lakh equity shares, aggregating to ₹5.63 crore.

The price band for the Master Components IPO has been set at ₹140 per share, with a face value of ₹10 per share. Investors have until Thursday, September 21, 2023, to subscribe to the IPO. The basis of allotment is expected to be finalized on September 26, with refunds starting on September 27. Shares will be credited to the demat accounts of eligible allottees on September 28.

Listing and Lot Size

Master Components shares are expected to be listed on NSE SME, tentatively on September 29. The lot size for the IPO is 1,000 shares, and the minimum investment required for retail investors is ₹140,000.

Aryaman Financial Services Ltd is the book running lead manager for the issue, and Bigshare Services Pvt Ltd is the IPO registrar.

Subscription Status

As of the first day of the bidding process, the Master Components IPO has been subscribed 0.18 times. Bids have been received for 1.85 lakh equity shares out of the 10.46 lakh shares on offer. The IPO has seen a subscription of 0.24 times in the retail category and 0.11 times in the Non-Institutional Investors’ (NII) category.

Grey Market Premium (GMP)

The grey market premium (GMP) for Master Components IPO is ₹0, indicating that the shares are trading at their issue price of ₹140 apiece in the grey market with no premium or discount.

Investors interested in the engineering components manufacturing sector may find the Master Components IPO an opportunity worth exploring.

VoM News Desk

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