Nikita Papers IPO Allotment Finalized, Shares to List on NSE SME Platform
By ScanX News Team
Nikita Papers Limited has completed its IPO allotment process for its debut on the NSE SME platform. The Rs 67.54 crore IPO was priced between Rs 95.00 and Rs 104.00 per share. The IPO saw modest demand with a subscription rate slightly above 1 time. The grey market premium currently stands at zero, suggesting a possible listing around the issue price of Rs 104.00. Allotment was finalized on May 30, 2023, with share credits expected by June 2, 2023, and listing anticipated on June 3, 2023.
*this image is generated using AI for illustrative purposes only.
Nikita Papers Limited, a company set to make its debut on the NSE SME platform, has finalized its Initial Public Offering (IPO) allotment. The Rs 67.54 crore IPO, which was priced between Rs 95.00 and Rs 104.00 per share, has completed its allocation process, marking a significant milestone for the company and its investors.
Key Highlights
| Item | Detail |
|---|---|
| Allotment Date | May 30, 2023 |
| Expected Listing Date | June 3, 2023 |
| Platform | NSE SME |
| IPO Size | Rs 67.54 crore |
| Price Band | Rs 95.00 - Rs 104.00 per share |
Subscription and Market Response
The IPO of Nikita Papers Limited witnessed modest demand from investors. The overall subscription rate was slightly above 1 time, indicating a tepid response from the market. This level of subscription suggests that while there was sufficient interest to fully subscribe the issue, it didn't see the kind of oversubscription that some high-profile IPOs have experienced in recent times.
Grey Market Premium and Listing Expectations
As of the latest update, the grey market premium for Nikita Papers shares stands at zero. This indicates that the unofficial, speculative market is not currently pricing the shares at a premium to the issue price. Based on this grey market trend, market observers suggest that the stock may debut around its issue price of Rs 104.00 when it lists on the NSE SME platform.
Important Dates for Investors
- Allotment Finalization: May 30, 2023
- Expected Credit of Shares: June 2, 2023
- Anticipated Listing Date: June 3, 2023
Investors who have been allotted shares can expect to see them credited to their demat accounts by June 2, 2023. This will be followed by the listing of the shares on the NSE SME platform, scheduled for June 3, 2023.
Investor Considerations
While the modest subscription rate and zero grey market premium might suggest cautious market sentiment, it's important for investors to remember that SME IPOs can behave differently from main board listings. The performance of the stock post-listing will depend on various factors, including the company's financial performance, market conditions, and investor perception.
As Nikita Papers Limited prepares for its market debut, all eyes will be on its listing price and subsequent performance on the NSE SME platform. Investors and market watchers will be keen to see how this new entrant fares in the dynamic small and medium enterprise segment of the Indian stock market.
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