Shanthala FMCG Products IPO: The initial public offering (IPO) of Shanthala FMCG Products Ltd has received a strong response from investors so far.
Shanthala FMCG Products IPO, which opened for subscription on October 27, will close on October 31, Tuesday. The FMCG product distribution company’s public issue is an SME IPO and a fixed price offering.
Shanthala IPO Subscription Status
Shanthala FMCG Products IPO has been subscribed 2.00 times so far on Monday, the second day of the bidding process. The issue received bids for 33.61 lakh equity shares against 16.77 lakh shares on the offer, according to data available at 3:40 pm
The public issue has been subscribed 1.42 times in the retail category and 2.58 times in the Non-Institutional Investors (NII) category so far.
Read here: Shanthala FMCG Products IPO: Check GMP, subscription status, other key things to know
Shanthala FMCG Products IPO GMP
Shanthala IPO GMP today, or gray market premium today, is ₹0 per share, according to market observers. This means that the company’s shares trade at par with their issue price, without any premium or discount, in the gray market.
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Shanthala FMCG Products IPO Details
Shanthala FMCG Products IPO opened for subscription on October 27 and will close on October 31. The IPO allotment is expected to be completed on November 3 and the company may initiate repayments on November 6, while it will credit shares to the demat accounts on November 7. .
The equity shares of Shanthala FMCG Products Ltd are proposed to be listed on NSE SME with a tentative listing set as November 8, 2023.
The ₹16.07 crore worth Shanthala FMCG Products IPO is a completely fresh issue of 17.66 lakh equity shares. The IPO price band was set at ₹91 per share.
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The IPO lot size is 1,200 shares and the minimum investment amount required from retail investors is ₹109,200.
The promoters of the company are Manjunath Mallya, Shobitha Malya, Sneha Vinayak Kudva, and Yogish Mallya.
The company intends to use the net proceeds of the issue for financing additional working capital requirements and for general corporate purposes.
First Overseas Capital Ltd is the book-running lead manager for the Shanthala FMCG Products IPO, while Bigshare Services Pvt Ltd is the IPO registrare