Effwa Infra & Research IPO subscribed over 9 times so far on Day 1; Check GMP, price band, other key details of SME IPO | Stock Market News

Effwa Infra and Research IPO: The initial public offering (IPO) of Effwa Infra and Research Ltd has been heavily oversubscribed on the first day of the bidding led by robust demand. Effwa Infra and Research IPO is an SME IPO which opened on July 5.

Effwa Infra IPO is a book-built issue that will remain open till July 9. Effwa Infra & Research is an engineering, consulting, procurement, construction and integrated project management services company.

Let us check Effwa Infra IPO GMP, subscription status and other key details.

Effwa Infra and Research IPO Subscription Status

Effwa Infra & Research IPO has been subscribed 9.33 times so far on July 5, the first day of the bidding process. The public issue received bids for 41.79 lakh shares as against 3.89 crore shares on the offer, as per data available till 1:50 pm.

The IPO has been subscribed 16.35 times in the retail category, and 5.20 times in the Non-Institutional Investors (NII) category so far.

Effwa Infra IPO GMP

Effwa Infra IPO GMP today, or grey market premium today, is 90 per share, according to stock market observers. This indicates that the equity shares of Effwa Infra and Research are trading at 172 apiece in the grey market, a premium of 109.76% to the issue price of 82 per share.

Effwa Infra and Research IPO Details

Effwa Infra and Research IPO opened for subscription on Friday, July 5, and will close on Tuesday, July 9. The IPO allotment is expected to be finalized on July 10, and the listing date is July 12. Effwa Infra and Research shares will be listed on NSE SME.

Effwa Infra IPO price band is set at 78 to 82 per share. At the upper-end of the price band, the company aims to raise 51.27 crore from the book-built issue which is a combination of fresh issue of 53.17 lakh equity shares worth 43.60 crore and an offer-for-sale (OFS) of 9.36 lakh shares worth 7.68 crore.

Ahead of the IPO opening Effwa Infra and Research raised 14.34 crore from anchor investors.

The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is 131,200.

Shreni Shares Limited is the book running lead manager of the Effwa Infra and Research IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

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