Thai Casting IPO is a completely fresh equity issue of 61.2 lakh shares.The company aims to raise Rs 47.5 crore through the issue.The price band of Thai IPO is Rs 73-77.
New Delhi. Thai Casting IPO opened on 15 February. This IPO has been subscribed seven times in the first two days. The company aims to raise Rs 47 crore through SME IPO. Thai Casting IPO will be listed on NSE SME platform. Investors can bid for the shares of this IPO till 19 February. That is, now investors have only one day left to invest in the IPO. Shares of Thai IPO are trading at a premium (Thai Casting IPO GMP) in the gray market. This means that the gray market expects this IPO to give listing gains to investors.
Thai Casting’s IPO received a seven-fold subscription on Friday, the second day of the bidding process. The category reserved for retail investors was booked 11.7 times, followed by NII at 3.8 times and QIB portion at 1.05 times. The price band of the Thai IPO is Rs 73-77. 50% of the offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors.
1600 shares in one lot
Investors can bid for 1600 shares in 1 lot. The IPO is a completely fresh equity issue of 61.2 lakh shares and the company aims to raise Rs 47.5 crore through the issue. The company will use the capital raised from the IPO for capital expenditure and general corporate purposes.
Earning signals from the gray market
Unlisted shares of Thai Casting are trading at a premium in the grey market. According to IPO Watch, a website that keeps an eye on the grey market, currently Thai Casting’s share is trading at a premium of Rs 20 in the grey market. This means that this IPO can give 26 percent listing gain to investors. However, investors should always keep in mind that it is not necessary that the IPO whose shares are trading at a premium in the grey market should also be listed at a premium in the stock market. The opposite can also happen.
Thai casting industry expected to grow at 15-20% CAGR
Thai Casting is a reputed automotive ancillary company specializing in high pressure die casting as well as precision machining and induction heating and quenching of both ferrous and non-ferrous materials. The Indian die casting industry is expected to grow at a CAGR of 15-20% over the next 2 years. The industry is expected to benefit greatly from the Make in India and Atmanirbhar Bharat initiatives of the government.
Tags: Money Making Tips, Stock market, IPO
FIRST PUBLISHED : February 17, 2024, 13:26 IST