Sattva Engineering Construction IPO Sees Massive 200x Oversubscription
Sattva Engineering Construction's IPO concluded with overwhelming demand, oversubscribed nearly 200 times. The Rs 35.38 crore issue received bids for over 62.36 crore shares against 31.47 lakh shares offered. QIBs subscribed 123 times, NIIs 351 times, and retail investors 172 times. The price band was Rs 70-75 per share. Allotment is expected to be finalized, with listing scheduled for September 3 on NSE SME platform. The grey market premium suggests a potential listing price of Rs 101, indicating a 34.67% gain.
*this image is generated using AI for illustrative purposes only.
The initial public offering (IPO) of Sattva Engineering Construction has concluded with an extraordinary display of investor interest, marking a significant milestone in the SME segment of the Indian stock market.
Overwhelming Demand
The IPO witnessed an overwhelming response from investors across categories, resulting in a staggering oversubscription of nearly 200 times. The offer received bids for over 62.36 crore shares against the 31.47 lakh shares on offer, reflecting robust demand across investor segments.
Subscription Details
The subscription breakdown across investor categories showcases the widespread appeal of the IPO:
| Investor Category | Subscription Rate |
|---|---|
| Qualified Institutional Buyers (QIBs) | 123.00 |
| Non-Institutional Investors (NIIs) | 351.00 |
| Retail Investors | 172.00 |
IPO Specifics
- Issue Size: Rs 35.38 crore
- Offer Structure: Entirely fresh issue of 0.47 crore shares
- Price Band: Rs 70-75 per share
Allotment and Listing
- Allotment Status: Expected to be finalized today
- Allotment Check: Investors can check their allotment status on the NSE website or through the registrar, MUFG Intime India
- Listing Date: Scheduled for September 3 on the NSE SME platform
- Important Dates: Share credits and refunds expected on September 2
Grey Market Premium
The grey market is showing strong interest in Sattva Engineering Construction shares:
- Grey Market Premium: Rs 26
- Estimated Listing Price: Rs 101 per share
- Potential Gains: 34.67% over the issue price
The substantial oversubscription and strong grey market premium indicate high investor confidence in Sattva Engineering Construction. However, investors should note that grey market premiums are unofficial and subject to change.
As the company prepares for its debut on the NSE SME platform, all eyes will be on its listing performance. The massive oversubscription suggests a potentially strong market debut, but as always, market conditions and various other factors will play a role in determining the stock's performance post-listing.
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