The initial public offer of Shah Investor’s Home is set to open today, September 28. The offer will close on Wednesday, September 30. The company aims to raise Rs 90.17 crores through its public offer, which comprises only a fresh issue of 53.99 lakh shares.
The company raised Rs 27.05 crores from anchor investors ahead of its opening, allotting 16.20 lakh shares at Rs 167 apiece. Shah Investor’s Home has fixed the price band for its offer at Rs 159-Rs 167.
Here are more details you should know about in case you wish to subscribe.
Shah Investor’s Home IPO: Offer size
Shah Investor’s Home is an Ahmedabad-based financial services and retail stockbroking firm. Its public offer is solely a fresh issue of 53.99 lakh shares. The shares will be listed on both NSE and BSE once the bidding is over and the successful bidders are allotted.
Beeline Capital Advisors Pvt. Ltd. is the book running lead manager for the issue and MUFG Intime India Pvt. Ltd. is the registrar.
Shah Investor’s Home IPO: Offer size
Retail investors need to bid for a minimum of one lot comprising 85 shares. This amounts to a minimum investment of Rs 14,195 at the upper end of the price band. The maximum number of lots retail applicants can bid for is 14.
For high net-worth investors, the lower cap is set at 15 lots and the upper limit is 35 lots, amounting to an investment of Rs 4,96,825.
Shah Investor’s Home IPO: GMP at 5%
In the unlisted market, the stock is trading at a moderate premium of Rs 9 or 5.39%. Indicating a listing price of Rs 176, based on the upper end of the price band.
However, GMP is an unofficial metric to check the listing price and is highly vulnerable to market volatility.
Shah Investor’s Home IPO: Subscription timeline
Shah Investor’s Home will wrap its bidding process by September 30 and the company’s share allotment is expected to be completed by October 1. The company is expected to list on exchanges on October 6.