GMP, Listing Date, NSE SME Subscription Details – All You Need To Know

The Rajputana Biodiesel IPO concluded its final day of bidding on a high note with a massive investor demand, ending its three-day bidding journey on November 28. The public issue was subscribed by 718.81 times, pointing out the investor confidence in the company’s potential.

Let’s take a closer look at the overall subscription and other detail of the public issue:

The IPO received an overwhelming response from all investor categories:

Qualified Institutional Buyers (QIB) – The QIB portion of the public offering was subscribed 177.38 times, with bids for over 6.11 crore shares against 3.45 lakh shares offered.

Non-Institutional Investors (NII): This portion was subscribed at a rate of 1,345.96 times, with 36.34 crore shares bid for, highlighting about the interest from high-net-worth individuals.

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Retail Investors – This portion also saw a massive demand from small investors. It got subscribed 746.57 times, with retail participation reaching nearly 47 crore shares bid..

The total bids stood at 89.42 crore shares for 12.44 lakh shares on offer, totaling to a whopping Rs 11,624.59 crore.

Day-by-Day Subscription Trends

Day 1 (November 26, 2024) – Modest start with total subscription at 19.54 times, driven by retail investors (32.56 times).

Day 2 (November 27, 2024) – Subscriptions surged to 87.56 times, as QIB and NII participation picked up.

Image used for representational purposes only | Canva

Day 3 (November 28, 2024) – A massive jump brought total subscriptions to 718.81 times, with NII leading the charge at 1,345.96 times.

Grey Market Premium and Listing

As per investorgain, the Grey Market Premium (GMP) for the Rajputana Biodiesel IPO stood at Rs 100 per share as of Friday morning.

With the IPO’s upper price band set at Rs 130, the estimated listing price could be around Rs 230 per share. This suggests a potential listing gain of nearly 77 per cent.

Rajputana Biodiesel’s shares are set to list on the NSE SME platform, Emerge, on December 3, 2024.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.