The price band of Seagull India IPO is ₹380-₹401. There are 37 shares in one lot of IPO. The shares of the issue are trading at a premium in the grey market.
New Delhi. The IPO of infrastructure construction company Ceigall India Limited was fully subscribed in just two days. According to BSE data, the issue has been subscribed 1.23 times so far. Ceigall India IPO opened on August 1. It will close on August 5. Ceigall India’s issue is also getting a good response in the gray market. The unlisted shares of the issue are trading at a 19 percent premium in the gray market.*
Bids were received for 2,74,17,222 shares of Seagull India IPO, while there were 2,23,13,663 shares on offer. The portion reserved for retail investors got 1.65 times subscription, while the portion for non-institutional investors got subscribed 1.75 times. Similarly, the portion for qualified institutional buyers (QIBs) was 1 per cent and the employee portion was booked 5.47 times. The company, established in the year 2002, works in infrastructure construction including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways and expressways.
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Price Band ₹380-₹401
The price band of the issue is ₹380-₹401. Retail investors can bid for a minimum of one lot i.e. 37 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹401, then you will have to invest ₹14,837. At the same time, a retail investor can bid for a maximum of 13 lots i.e. 481 shares. For this, investors will have to invest ₹192,881 as per the upper price band.
50% of the Seagull India IPO is reserved for Qualified Institutional Buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
The company wants to raise ₹1,252.66 crore
Through this IPO, Seagull India Company wants to raise ₹1,252.66 crore. In the issue, the company will issue 17,063,640 new shares worth ₹684.25 crore. Whereas, the existing investors of the company will sell 14,174,840 shares worth ₹568.41 crore through the Offer for Sale i.e. OFS window. Seagull India Limited has fixed the price band of this issue at ₹380-₹401.
GMP is Rs 75
According to IPOwatch.in, a website that monitors the grey market, Seagull India’s stock is trading at a premium of 19 per cent i.e. ₹ 75 per share in the grey market. In such a situation, according to the upper price band of ₹ 401, its listing can be at ₹ 476. But, investors must know 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. The opposite can also happen.
(Disclaimer: Investment made in IPO is subject to market risks. If you want to invest money in any of these, then first consult a certified investment advisor. News18 will not be responsible for any kind of profit or loss of yours.)
Tags: Business news, IPO, Stock market
FIRST PUBLISHED : August 3, 2024, 07:07 IST