Infinity Infoway IPO Sees Massive 258x Oversubscription, Grey Market Premium Soars
Infinity Infoway's Rs 24.42 crore IPO concluded with a 258.46 times oversubscription. Non-institutional investors led with 397.06x subscription, followed by retail at 303.23x. The grey market premium reached Rs 50, suggesting a potential 32.26% gain on listing. Allotment finalization and listing on BSE SME platform are expected on October 8. The company plans to use funds for developing ZEROTOUCH device as a Service, purchasing IT infrastructure, funding tender deposits, and meeting working capital needs.
*this image is generated using AI for illustrative purposes only.
Infinity Infoway's Initial Public Offering (IPO) has concluded with a remarkable oversubscription of 258.46 times, signaling strong investor interest in the company. The Rs 24.42 crore book-built issue, consisting entirely of fresh shares, was priced between Rs 147-155 per share.
Subscription Details
The IPO saw enthusiastic participation across investor categories:
| Investor Category | Subscription Rate |
|---|---|
| Non-Institutional | 397.06x |
| Retail | 303.23x |
| Overall | 258.46x |
Grey Market Premium
The grey market has responded positively to the IPO, with the premium reaching Rs 50. This suggests an expected listing price of Rs 205 per share, representing a potential 32.26% gain over the upper price band.
Key Dates
- Allotment Status Finalization: October 8
- Demat Account Credit: October 7
- Tentative Listing (BSE SME Platform): October 8
Utilization of Funds
Infinity Infoway plans to use the IPO proceeds for several strategic initiatives:
- Developing ZEROTOUCH device as a Service
- Purchasing IT infrastructure
- Funding tender deposits
- Meeting working capital requirements
The strong oversubscription and grey market premium indicate significant investor interest in Infinity Infoway's business model and growth prospects. As the company prepares for its listing on the BSE SME platform, market participants will be keenly watching its performance in the coming days.
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