Current Infraprojects made a remarkable debut on the NSE SME platform following its highly successful Initial Public Offering (IPO). The company's Rs 42.00 crore IPO garnered overwhelming interest from investors, resulting in a staggering 379 times oversubscription.

IPO Details and Investor Response

The IPO, priced at Rs 80.00 per share, attracted bids worth over Rs 13,295.00 crore, showcasing strong investor confidence in the company's potential. The subscription breakdown across investor categories was impressive:

• Retail investors: 396.5 times oversubscribed
• Non-institutional investors: 640 times oversubscribed
• Qualified institutional buyers: 192 times oversubscribed

Grey Market Premium

Reflecting the high demand, Current Infraprojects' shares are trading at a grey market premium of 58%, indicating positive sentiment among investors.

Company Profile

Current Infraprojects operates in the infrastructure and renewable energy sectors, with expertise in Engineering, Procurement, and Construction (EPC) across various domains:

• Solar projects
• Electrical works
• Water management
• Civil contracts

The company has demonstrated its capabilities by completing projects worth over Rs 2,320.00 crore and maintains a robust order book of Rs 280.00 crore.

Financial Performance

Current Infraprojects reported strong financial results:

IPO Proceeds Utilization

The funds raised through the IPO will be allocated to:

1. Investments in solar project subsidiaries
2. Working capital requirements
3. General corporate purposes

Current Infraprojects' successful listing on the NSE SME platform, coupled with its strong order book and diverse project portfolio, positions the company as a notable player in the infrastructure and renewable energy sectors.

The Initial Public Offering (IPO) of Current Infraprojects, which garnered overwhelming investor interest, is set to reach a crucial milestone today. The allotment status for the SME IPO is expected to be finalized on September 1, marking an important step towards the company's debut on the NSE SME platform.

Subscription Details

The IPO of Current Infraprojects witnessed an extraordinary response from investors across all categories:

• Overall subscription: 380 times
• Qualified Institutional Buyers (QIBs): 191 times
• Non-Institutional Investors (NIIs): 640 times
• Retail Investors: 396 times

The offering received bids for over 1,32,95,66,400 shares against the 35,04,000 shares on offer, reflecting the strong demand for the company's shares.

IPO Structure and Pricing

Current Infraprojects' IPO, which aimed to raise Rs 41.8 crore, consisted entirely of a fresh issue of 0.52 crore shares. The price band for the issue was set between Rs 76 to Rs 80 per share.

Grey Market Premium

The grey market is showing a positive sentiment towards Current Infraprojects' shares. The grey market premium currently stands at Rs 41, indicating a potential listing price of Rs 121 per share. If this materializes, it would represent an estimated gain of 51.25% from the upper end of the IPO price band.

Important Dates for Investors

Checking Allotment Status

Investors who applied for the IPO can check their allotment status through two primary methods:

1. NSE Website: Visit the official NSE website to check the status.
2. Registrar's Website: Access the website of Bigshare Services, the registrar for this IPO.

The strong subscription numbers and positive grey market premium suggest a keen interest in Current Infraprojects among investors. However, it's important to note that grey market premiums and estimated gains are unofficial and subject to market conditions. Investors are advised to make informed decisions based on their own research and risk assessment.

As the company prepares for its stock market debut, all eyes will be on its performance post-listing, which will provide a clearer picture of investor sentiment and the company's market valuation.