Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium

Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium
Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium/Mint
Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium
Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium/Mint

Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium

Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium

Winsol Engineers IPO; Robust Demand and Strong Grey Market Premium

Key Highlights:

  1. Winsol Engineers IPO subscribed 644.30 times, attracting significant interest from investors.
  2. Grey market premium surges to ₹200 per share, indicating high demand for Winsol Engineers shares.
  3. IPO aims to raise ₹23.36 crore with a price band of ₹71 to ₹75 per share, with tentative listing on May 14.

The IPO of Winsol Engineers Ltd, an SME IPO set to list on the NSE SME platform, is witnessing remarkable demand from investors across categories. Bidding, which commenced on May 6, is set to conclude today, May 9, with subscription rates soaring to 644.30 times as of the fourth and final day.

Investor enthusiasm is further reflected in the grey market, where Winsol Engineers IPO is commanding a robust premium of ₹200 per share, indicating a significant uptick in demand. This translates to a premium of 266.67% over the issue price of ₹75 per share, with shares trading at ₹275 apiece.

With a price band of ₹71 to ₹75 per share, Winsol Engineers aims to raise ₹23.36 crore through a fresh issue of 31.15 lakh equity shares. The IPO lot size is 1,600 shares, requiring a minimum investment of ₹120,000 for retail investors. The company has already secured ₹6.62 crore from anchor investors on May 3.

Winsol Engineers specializes in providing integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions in the renewable energy sector. As of April 2024, the company boasts over 41 ongoing projects valued at approximately ₹119.53 crore.

Beeline Capital Advisors Pvt Ltd serves as the book running lead manager for the IPO, while Kfin Technologies handles IPO registrar duties. With the allotment expected to be finalized on May 10 and tentative listing slated for May 14, Winsol Engineers anticipates utilizing the IPO proceeds to bolster working capital and support general corporate objectives.

Source: Mint

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