Shree Refrigerations IPO: A Comprehensive Guide
The initial public offering (IPO) of Shree Refrigerations Ltd., a leading manufacturer of refrigeration equipment, closed for subscription on Tuesday, July 29. The SME issue received an overwhelming response from investors, with the issue being subscribed 187.55 times.
In this article, we will cover all the key aspects of the Shree Refrigerations IPO, including the price band, offer size, subscription status, grey market premium, allotment date, allotment status, and listing date.
Offer Size and Price Band
The Shree Refrigerations IPO is a book-building issue of Rs 117.33 crore. It comprises a fresh issue of 75.61 lakh shares, worth Rs 94.51 crore, and an offer-for-sale (OFS) of 18.25 lakh shares, amounting to Rs 22.81 crore. The price band for the Shree Refrigerations IPO is set between Rs 119 and Rs 125 per share.
Subscription Status
The Shree Refrigerations IPO was subscribed 20.62 times on Monday, with bids received for more than 12.86 crore shares against 62.42 lakh shares on offer. The issue was subscribed 187.55 times on Tuesday, with qualified institutions bidding 167.32 times, non-institutional investors bidding 197.01 times, and retail investors bidding 195.05 times.
Grey Market Premium (GMP)
The grey market premium (GMP) for Shree Refrigerations IPO stood at Rs 85 apiece at 5:00 p.m. on July 29. This reflects a potential listing gain of 68% per share over the upper limit of the issue price.
Allotment Date and Status
The allotment status for the Shree Refrigerations shares is proposed to be finalised on July 30. Investors can check the share allotment status on the websites of BSE and MUFG Intime India, the registrar for the issue. The company will transfer shares to the Demat accounts of the successful bidders on July 31 and process refunds for non-allottees on the same day.
Listing Date
Shares of Shree Refrigerations are proposed to be listed on the BSE SME platform on August 1.
Shree Refrigerations manufactures refrigeration equipment, particularly for the Indian Navy. It also produces chillers for the chemical and pharmaceutical industries. The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.
Investors who bid for the issue can check the share allotment status for Shree Refrigerations IPO on the websites of BSE and MUFG Intime India, the registrar for the issue.
Disclaimer
Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.