Sadhav Shipping IPO: The initial public offering of Sadhav Shipping Ltd, which has been closed on Tuesday, February 27, has received a decent response from investors. Till 4:32 pm on the final day of bidding on Tuesday, the Rs 38.18-crore SME IPO received 134.98 times subscription, garnering bids for 51,50,96,400 shares as against 38,16,000 shares on offer.
The Sadhav Shipping IPO was opened for public subscription on February 23, 2024.
The retail category has received 64.14 times subscription and the non-institutional quota got 184.55 times subscription.
The allotment of the Sadhav Shipping IPO will take place on February 28, while its listing will take place on both NSE SME on March 1, 2024.
Sadhav Shipping IPO GMP Today
According to market observers, unlisted shares of Sadhav Shipping Ltd are trading Rs 31 higher in the grey market as compared with its issue price. The Rs 31 grey market premium or GMP means the grey market is expecting a 32.63 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Sadhav Shipping IPO Details
The Sadhav Shipping IPO is entirely a fresh issue of 40.19 lakh shares. The price band of the IPO price has been fixed at Rs 95 per share.
The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,14,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,28,000.
Isk Advisors Pvt Ltd is the book-running lead manager of the Sadhav Shipping IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Sadhav Shipping IPO is Sunflower Broking.
(The story has been updated with the latest subscription and GMP data till 4:32 pm)
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