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Shah Investor’s Home IPO Opens With 5% GMP
Shah Investor’s Home is offering shares to the public to raise money.
Its IPO opens on September 28 and closes on September 30.
The company plans to raise about Rs 90.17 crores.
Investors can buy shares priced between Rs 159 and Rs 167.
A small investor must buy at least 85 shares.
Before the IPO opened, anchor investors bought shares worth Rs 27.05 crores.
In the unofficial grey market, the shares were trading about 5.39% above the highest IPO price.
The company is expected to list its shares on October 6, although the grey-market estimate can change.
Shah Investor’s Home’s Rs 90.17-crore IPO opens on September 28 and closes on September 30.
The IPO comprises a fresh issue of 53.99 lakh shares priced between Rs 159 and Rs 167 each.
Anchor investors were allotted 16.20 lakh shares at Rs 167 apiece, raising Rs 27.05 crores.
Retail investors must bid for at least 85 shares, requiring a minimum investment of Rs 14,195 at the upper price.
The stock’s unofficial grey-market premium is Rs 9, or 5.39%, implying a potential listing price of Rs 176.
- Who
- Shah Investor’s Home, an Ahmedabad-based financial services and retail stockbroking firm, is conducting the IPO.
- What
- The company is offering 53.99 lakh new shares to raise Rs 90.17 crores.
- Where
- The shares are expected to list on the National Stock Exchange and Bombay Stock Exchange.
- When
- Bidding runs from September 28 through September 30; allotment is expected on October 1 and listing on October 6.
- Why
- The company is raising funds through a fresh share issue.
Key facts
- IPO size
- Rs 90.17 crores
- Issue type
- Fresh issue of 53.99 lakh shares
- Price band
- Rs 159-Rs 167 per share
- Anchor investment
- Rs 27.05 crores for 16.20 lakh shares at Rs 167 each
- Retail lot size
- 85 shares
- Minimum retail investment
- Rs 14,195 at the upper price-band price
- Grey-market premium
- Rs 9, or 5.39%, indicating Rs 176 based on the upper price
- Expected listing
- October 6 on NSE and BSE
Sources
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