Repono IPO Sees Strong Demand, Oversubscribed 6 Times on Day 2
Repono Ltd.'s IPO has been oversubscribed 6 times on the second day of bidding. The BSE SME issue received bids for over 1.2 crore shares against 18.48 lakh shares offered. Qualified Institutions oversubscribed 7 times, Non-Institutional Buyers 6.91 times, and Retail Investors 6.25 times. The IPO aims to raise Rs 26.68 crore with a price band of Rs 91-96 per share. The grey market premium suggests a potential 21.88% listing gain. Funds will be used for working capital, capital expenditure, and corporate purposes. Repono Ltd. specializes in warehousing services for oil and gas, petrochemicals, and specialty chemicals industries.
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Repono Ltd.'s Initial Public Offering (IPO) has garnered significant investor interest, with the issue being oversubscribed 6 times on the second day of bidding. The BSE SME issue has attracted bids for more than 1.2 crore shares against the 18.48 lakh shares on offer, indicating robust demand across investor categories.
Subscription Details
The IPO has seen strong participation across all investor segments:
- Qualified Institutions: 7 times oversubscribed
- Non-Institutional Buyers: 6.91 times oversubscribed
- Retail Investors: 6.25 times oversubscribed
IPO Highlights
| Aspect | Details |
|---|---|
| Issue Size | 27.79 lakh shares |
| Price Band | Rs 91 - Rs 96 per share |
| Total Fundraise Target | Rs 26.68 crore |
| Subscription Period | July 28 - July 30 |
| Allotment Date | July 31 |
| Proposed Listing | August 4 on BSE SME platform |
Grey Market Premium
The grey market is showing a premium of Rs 21 per share, suggesting a potential listing price of Rs 117. This indicates a possible 21.88% premium over the upper price band of Rs 96.
Fund Utilization
Repono Ltd. plans to use the IPO proceeds for:
- Working capital requirements
- Capital expenditure
- General corporate purposes
Company Profile
Repono Ltd. specializes in providing warehousing services to various industries, including:
- Oil and gas
- Petrochemicals
- Specialty chemicals
The strong investor response to Repono's IPO reflects the market's interest in the company's business model and growth prospects in the warehousing sector, particularly for specialized industries.
Investors and market watchers will be keenly observing the final subscription figures and the company's performance post-listing on the BSE SME platform.
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