Italian Edibles IPO: The initial public offering of Italian Edibles Ltd has opened for public subscription on Friday, January 2. The Rs 26.66-crore SME IPO will remain open till Tuesday, January 30. Till 10:19 am on the first day of bidding on Friday, the IPO received 0.18 times subscription, garnering bids for 6,70,000 shares as against 37,20,000 shares on offer.
The retail category has so far received 0.33 times subscription and the non-institutional investor (NII) category quota got 0.03 times subscription.
The allotment of Italian Edibles IPO will take place on February 8, while its listing will take place on the NSE SME on February 12, 2024.
Italian Edibles IPO GMP Today
According to market observers, unlisted shares of Italian Edibles Ltd are trading Rs 20 higher in the grey market as compared with its issue price. The Rs 20 grey market premium or GMP means the grey market is expecting a 29.41 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Italian Edibles IPO Details
The Italian Edibles IPO is entirely a fresh issue of 39.2 lakh shares. The price of the Italian Edibles IPO has been fixed at Rs 68 per share.
The minimum lot size for an application is 2,000 shares. The minimum amount of investment required by retail investors is Rs 1,36,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 2,72,000.
First Overseas Capital Limited is the book-running lead manager of the Italian Edibles IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Italian Edibles IPO is Nikunj Stock Brokers.
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