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Owais Metal and Mineral IPO: The initial public offering of Owais Metal and Mineral Processing Ltd, which will close on February 28, received a tremendous response from investors. Till 5:34 pm on the last day of bidding on Wednesday, February 28, the 42.69 crore SME IPO received 221.18 times subscription, generating bids for 70,67,08,800 shares against to 31,95,200 shares on offer.
Owais Metal and Mineral’s initial public offering opened for public subscription on February 26. The price band of the IPO has been set between Rs 83 and Rs 87 per share.
The retail category received 248.50 times subscription and the non-institutional share received 329.36 times subscription. The QIB quota has been subscribed 92.06 times.
The IPO allotment of Owais Metal and Mineral will take place on February 29, while its listing will take place on NSE SME on March 4, 2024.
Owais Metal and Mineral IPO GMP today
According to market watchers, the unlisted shares of Owais Metal and Mineral Processing Ltd are trading Rs 120 higher in the gray market compared to its issue price. The gray market premium of Rs 120 or GMP means that the gray market expects a listing gain of 137.93 per cent on the back of the public issue. The GMP is based on market sentiments and continues to change.
The ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.
Owais Metals & Minerals IPO Details
The initial public offering of Owais Metal and Mineral Processing is a fresh issue of 49.07 lakh shares. Its price band is set between Rs 83 and Rs 87 per share.
The minimum lot size for an application is 1600 shares. The minimum investment amount required by retail investors is Rs 1,39,200. The minimum lot investment for HNI is 2 lots (3200 shares) worth Rs 278400.
Gretex Corporate Services Limited is the lead book-running manager for the Owais Metal and Mineral Processing IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for the Owais Metal and Mineral Processing IPO is Gretex Share Broking.
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first published: February 28, 2024, 12:14 IST