The clock is ticking for investors eyeing the Euro Pratik Sales IPO. The three-day subscription window ends today, September 18. The IPO was opened for subscription on September 16. While Dalal Street is buzzing, let’s take a look at this ongoing IPO the grey market trend, subscription and other key details before the final bell.
Euro Pratik Sales IPO: Subscription demand so far
By the end of the second day, the IPO had been subscribed 0.75 times with bids pouring in for over 10.32 crore shares against just 1.23 crore shares on offer.
Breaking it down, the Non-institutional investors (NIIs) subscribed their portion 1.30 times. Also, the Qualified Institutional Buyers (QIBs) received a subscription of 0.28 times. Retail investors subscribed their share by 0.76 times on Day 2 of bidding.
Euro Pratik Sales IPO: Grey market trend
In the unofficial market, as of the latest, the shares of Euro Pratik Sales are trading at around Rs 252 per share. This is just Rs 5 higher than the upper end of the price band at Rs 247. This translates to a modest 2% premium.
However, it is also important to note that GMP is not the official listing price, and it fluctuates based on the market sentiment.
Euro Pratik Sales IPO: An offer-for-sale issue
The Euro Pratik Sales IPO is structured entirely as an offer-for-sale. Promoters are selling up to 1.83 crore shares worth nearly Rs 451 crore.
As a result, the company itself will not receive any funds from this issue. All proceeds will go directly to the selling shareholders after accounting for offer-related expenses and taxes.
Euro Pratik Sales IPO: Price band, lot size and investment amount
The company has fixed the IPO price band at Rs 235 to 247 per share. Investors looking to participate must bid for at least 60 shares, which means a minimum application size of Rs 14,820. Applications can be made in multiples of 60 shares thereafter.
Euro Pratik Sales IPO: Key dates to watch
With bidding ending today, the allotment of shares is expected to be finalised on Friday, September 19.
Successful applicants will see shares credited to their demat accounts on Monday, September 22. After all these processes, the stock is likely to list on both the NSE and BSE on Tuesday, September 23.
About Euro Pratik Sales
The company is a leading player in India’s decorative wall panels and laminates industry. With a market share of 10% in FY24, Euro Pratik Sales has positioned itself as one of the country’s largest organised brands in this space.
Its products are marketed under the names ‘Euro Pratik’ and ‘Gloirio,’ offering design solutions.