Share Samadhan Ltd’s initial public offering has been subscribed 2.90 times so far on the second day of subscription. On the first day of bidding on Monday, the IPO was oversubscribed 1.18 times, driven by retail investor demand.
The IPO aims to raise Rs 240.6 crore through a fresh issue of 3.251 lakh shares. Applications for the IPO will be accepted till September 11. The price band for the shares has been set at Rs 70 to Rs 74 per share.
Retail investors will need to apply to invest a minimum of 1,600 shares, or Rs 1,18,400, while high net worth individuals will need to apply to invest a minimum of 3,200 shares, or Rs 2,36,800.
The allotment of shares is expected to be completed on September 12. The shares will be listed on the BSE SME platform with the tentative listing date expected to be September 16, 2024.
The issue is being managed by lead underwriter Narnolia Financial Services Ltd., with Skyline Financial Services Ltd. acting as registrar. Nikunj Stock Brokers Ltd. is acting as market maker for the IPO.
According to Chittorgarh, ahead of its IPO, Share Samadhan Limited has managed to raise Rs 683 crore from anchor investors.
