Thaai Casting IPO: The initial public offering of automotive ancillary company Thaai Casting Ltd, which will be closed on Tuesday, February 20, has received a whopping response from investors. Till 4:46 pm on the third day of bidding on Monday, February 19, the Rs 47.20-crore SME IPO received 72.15 times subscription, garnering bids for 29,20,43,200 shares as against 40,48,000 shares on offer.
The IPO was opened for public subscription on Thursday, February 15.
The retail category has received 112.76 times subscription and the non-institutional quota got 68.75 times subscription. The qualified institutional buyer (QIB) category has received 3.62 times subscription.
The allotment of Thaai Casting IPO will take place on February 21, while its listing will take place on the NSE SME on February 23, 2024.
Thaai Casting IPO GMP Today
According to market observers, unlisted shares of Thaai Casting Ltd are trading Rs 74 higher in the grey market as compared with its issue price. The Rs 74 grey market premium or GMP means the grey market is expecting an 96.1 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.
Thaai Casting IPO Details
Thaai Casting IPO is entirely a fresh issue of 61.3 lakh shares. The price band of the IPO has been fixed at Rs 73 to Rs 77 per share. The minimum lot size for an application is 1,600 shares.
The minimum amount of investment required by retail investors is Rs 1,23,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,46,400.
GYR Capital Advisors Private Limited is the book running lead manager of the Thaai Casting IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Thaai Casting IPO are Giriraj Stock Broking and Commodity Mandi.
(The story has been updated with the latest subscription data till 4:46 pm)
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