Supreme Power Equipment IPO Receives Strong Investor Response

Supreme Power Equipment IPO Receives Strong Investor Response

VoM News Desk | December 26, 2023 | 03:48 PM IST | Breaking News | Follow on Google News

Supreme Power Equipment IPO Receives Strong Investor Response

Supreme Power Equipment IPO Receives Strong Investor Response

The ongoing initial public offering (IPO) of Supreme Power Equipment Ltd, launched on December 21, has garnered significant investor interest. The IPO, categorized as an SME IPO, will conclude today, December 26. Specializing in power transformer manufacturing, Supreme Power Equipment is slated for listing on the NSE SME platform.

IPO Subscription Status:
As of December 26, the final day of the bidding process, the Supreme Power IPO has been oversubscribed by an impressive 129.19 times. Bids totaling 56.56 crore shares have been received, significantly surpassing the offered 43.78 lakh shares by 2:30 pm.

• Retail category: Subscribed 171.09 times
• Qualified Institutional Buyers’ (QIB) category: Subscribed 26.88 times
• Non-Institutional Investors’ (NII) category: Subscribed 167.73 times

Grey Market Premium (GMP) Today:
Market observers report the Supreme Power IPO’s Grey Market Premium (GMP) today at ₹66 per share. This suggests that the company’s shares are trading at a premium of ₹66 in the grey market.

Estimated Listing Price:
Considering the GMP and issue price, the estimated listing price of Supreme Power Equipment shares is projected at ₹131 per share, marking a premium of 101.54% over the issue price of ₹65 per share.

IPO Details:
The IPO, with a size of ₹46.67 crore, entirely comprises a fresh issue of 71.8 lakh shares. The price band for the Supreme Power Equipment IPO ranges from ₹61 to ₹65 per equity share.

Important Dates:

• IPO subscription period: December 21 to December 26
• Allotment finalization: Expected on December 27
• Tentative listing date on NSE SME: December 29

Key Entities:
Narnolia Financial Services Ltd acts as the book running lead manager for the Supreme Power Equipment IPO, while Purva Sharegistry India Pvt Ltd is the IPO registrar.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.