Rajgor Castor Derivatives IPO Makes Decent Debut on NSE SME

Rajgor Castor Derivatives IPO Makes Decent Debut on NSE SME

VoM News Desk | October 31, 2023 | 01:22 PM IST | Breaking News | Follow on Google News

Rajgor Castor Derivatives IPO Makes Decent Debut on NSE SME

Rajgor Castor Derivatives IPO Makes Decent Debut on NSE SME

Rajgor Castor Derivatives Limited shares had a favorable debut on NSE SME, with the share price being listed at ₹59 per share, marking an 18% increase from the issue price of ₹50.

Following a promising start, Rajgor Castor Derivatives Limited shares witnessed a 5% lower circuit, suggesting strong investor interest in the stock.

IPO Price Band and Details

The price band for the Rajgor Castor Derivatives IPO was set in the range of ₹47 to ₹50. Investors had the option to bid for a minimum of 3,000 shares and in multiples thereof. The IPO subscription period was from October 17 to October 20.

The IPO consisted of a fresh issue of shares worth ₹44.48 crore and an offer for sale (OFS) of 666,000 equity shares of face value ₹10 each by a promoter and others. The total size of the IPO was ₹47.81 crore. Rajgor Castor Derivatives IPO garnered ₹13.56 crore from anchor investors.

The proceeds from the new issue will be used for covering public offering costs, general company purposes, and meeting working capital requirements.

Beeline Capital Advisors Pvt Ltd served as the book running lead manager for the Rajgor Castor Derivatives IPO, while Link Intime India Private Ltd acted as the registrar. Spread X Securities assumed the role of the market maker for the IPO.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for Rajgor Castor Derivatives Ltd IPO is currently at +5, indicating that the share price is trading at a premium of ₹5 in the grey market. This suggests strong demand for the stock. Given the upper end of the IPO price band and the current grey market premium, the estimated listing price for Rajgor Castor Derivatives shares is around ₹55 apiece, which is 10% higher than the IPO price of ₹50.

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