Maxposure IPO Subscribed 156.90 Times on Day 2

Maxposure IPO Subscribed 156.90 Times on Day 2

VoM News Desk | January 16, 2024 | 04:40 PM IST | Breaking News | Follow on Google News

Maxposure IPO Subscribed 156.90 Times on Day 2

Maxposure IPO Subscribed 156.90 Times on Day 2

Maxposure IPO, a new-age media an d entertainment company, has been oversubscribed 156.90 times on the second day of its subscription period.

The IPO comprises a fresh issue of 6,140,000 equity shares with a face value of ₹10, priced in the range of ₹31 to ₹33 per share. Maxposure specializes in advertising, content marketing, technology, and in-flight entertainment. The company plans to use the net proceeds for obtaining certifications for its products and for general corporate purposes.

The IPO received positive responses from retail investors and non-institutional buyers. The grey market premium for Maxposure IPO is +55, indicating a premium of ₹55 per share. The estimated listing price is ₹88 apiece, which is 166.67% higher than the IPO price. The IPO subscription status was 72.58 times on day 1.

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