Investors broke as soon as IPO opened, found 4.36 times the subscription on the first day; What should be invested?


SUNTECH Infra Solutions IPO: The IPO of B2B Civil Construction Service Provider Company Stec Infra Solutions has been launched from today. The IPO of Rs 44.39 crore includes a fresh issue of Rs 34.18 crore (39.74 lakh shares) and an offer of Rs 10.21 crore for sale (11.87 lakh shares). The IPO can be bid till 27 June. On June 30, a share allotment is expected. On July 2, the company shares will be listed on NSE.

Large bid on the very first day

The IPO received a good response from investors on the first day. It was subscribed to 4.36 times the first day. The price band per share for IPO has been fixed between Rs 81 and Rs 86. In this, retail investors will have to bid for at least 1600 shares in a lot. The book running lead manager of IPO is GYR Capital Advisors Private Limited. The Registrar of the IPO is Mass Services Limited and Giriraj is working as a stock broking market maker for the public issue.

Money will be used in this work

The IPO has 47.46 percent of the total 51.61 lakh shares in the total institutional buyers (QIB) reserves, including 28.46 percent part for anchor investors. The company has set aside 14.26 % for non-institutional investors (NIIs) and 33.26 percent shares for retail investors. The amount raised from the IPO will be used for purchasing new equipment, meeting working capital requirements and for other general corporate purposes.

How much GMP is going on?

According to Investorgain.com, GMP of Santek Infra IPO was Rs 23 at 12:29 pm on June 25. This means that the issue can be listed from its upper-pris band at Rs 86 to Rs 109. That is, investors are expecting 26.74 percent profit on listing.

Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)

Also read:

Mukesh Ambani earned Rs 81960382 in just one day, younger brother Anil suffered a big loss

(Tagstotranslate) IPO (T) Suntech Infra Solutions IPO (T) Suntech Infra Solutions IPO Subscription (T) IPO (T) IPO (T) Santech Infra Solutions IPO



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