Introduction:
The IPO of Jeevanram Shyoduttarai Industries Company, which recently opened for investment, has received an overwhelming response from investors. The IPO was open for investment from Friday, September 8, 2023 to Tuesday, September 12, 2023, with a price band of Rs 23 per share. Shares of the company will be listed on NSE SME Exchange on Thursday, September 21, 2023.
Investor Interest:
Shares of the company were trading at a premium of Rs 12 on the gray market, indicating potential gains for investors. Looking at the issue price and the gray market price, the stock may list at Rs 35, offering investors a potential profit of 53 percent on the first day of stock listing. The IPO of Jeevanram Shyoduttarai Industries Company was oversubscribed 111.86 times on the third day, with retail investors oversubscribing by 149.32 times and non-institutional investors oversubscribing by 69.70 times.
Company Details:
Jeevanram Shyoduttarai Industries Company issued 74,22,000 fresh equity shares worth Rs 17.07 crore in its IPO, with a face value of 10 per equity share. The promoter group of the company holds 99.996 percent share capital, which will reduce to 70.01 percent after the IPO. The IPO shares will be allotted to investors on Friday, September 15, 2023, and the listing will take place on Thursday, September 21, 2023, on NSE SME Index.
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