Atmastco IPO: The initial public offering of engineering, procurement and construction firm Atmastco Ltd, which opened for public subscription on Thursday, February 15, has been fully subscribed. As of 4:06 pm on the first day of bidding, the Rs 56.25 crore SME IPO was subscribed 1.03 times, generating bids for 71,42,400 shares against the offer of 69,39,200 shares.
The IPO will remain open till 20 February.
The retail category has received subscription 1.78 times and the non-institutional quota has received 0.27 times subscription.
The allotment of Atomastco IPO will take place on February 21, while its listing will take place on February 23, 2024 on both NSE SME.
atomastco ipo gmp today
According to market observers, unlisted shares of Atmastco Ltd are trading at Rs 33 higher in the gray market than their issue price. The gray market premium or GMP of Rs 33 means the gray market is expecting 42.86 per cent listing profit from the public issue. GMP is based on market sentiments and keeps changing.
The ‘grey market premium’ refers to the willingness of investors to pay more than the issue price.
Atomastco IPO Details
According to a statement, the Atmastco IPO is a combination of a fresh issue of 54.8 lakh equity shares and an offer for sale (OFS) of 18.25 lakh shares with a fixed price of Rs 77 per share. At this price, the company will raise Rs 42.2 crore through fresh issue and Rs 14.06 crore through OFS. The proceeds from the fresh issue will be used primarily to finance the working capital requirements of the company. Additionally, some amount will be used for repayment of loans and general corporate purposes. The first public issue will open for subscription on February 15 and close on February 20.
It will raise a little over Rs 56 crore through an initial public offering that will open for subscription on February 15. After the completion of the initial public offering (IPO), the shares of the Bhilai-headquartered company will be listed on the National Stock Exchange. Small and Medium Enterprises (SME) Platform – NSE Emerge.
The Chhattisgarh-based company has ongoing projects worth more than Rs 720 crore. Investors can apply for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter. Affinity Global Capital Markets Private Limited is the sole lead manager of the public offering.
(The story has been updated with the latest subscription and GMP data as of 4:06 p.m.)