Presstonic Engineering IPO: Check GMP at the moment, Subscription Status.
Unlisted shares of Presstonic Engineering Ltd are buying and selling Rs 50 larger within the gray market, which is a 69.44 per cent itemizing acquire from the general public subject
Presstonic Engineering IPO: The preliminary public providing of Presstonic Engineering Ltd, which opened for public subscription on December 11, has closed on Wednesday, December 13. Till 3:55 pm on the ultimate day of bidding on Wednesday, the SME IPO bought a whopping 164.19 instances subscription, receiving bids for 50,46,44,800 shares as towards 30,73,600 shares on provide.
The class meant for non-institutional traders obtained an awesome 133.24 instances subscription, whereas the quota for retail particular person traders (RIIs) bought subscribed a whopping 181.14 instances.
The IPO worth was mounted at Rs 72 per share. The Rs 23.30-crore Presstonic Engineering SME IPO might be alloted on Thursday, December 14. (*164*) itemizing will happen on the NSE SME on December 18.
Presstonic Engineering IPO GMP Today
According to market observers, unlisted shares of Presstonic Engineering Ltd are presently buying and selling Rs 50 larger within the gray market as in contrast with its subject worth. The Rs 50 gray market premium or GMP means the gray market is anticipating a 69.44 per cent itemizing acquire from the general public subject. The GMP is predicated on market sentiments and retains altering.
‘Grey market premium’ signifies traders’ readiness to pay greater than the difficulty worth.
Presstonic Engineering IPO Details
Presstonic Engineering IPO is solely a contemporary subject of 32.37 lakh shares. The IPO worth was mounted at Rs 72 per share. The minimal lot dimension for an software is 1,600 shares. The minimal quantity of funding required by retail traders is Rs 1,15,200.
The proceeds might be utilised in direction of funding capital expenditure for the acquisition of extra plant and equipment, prepayment in filled with sure borrowings availed by the corporate, to satisfy the working capital necessities, to satisfy the difficulty bills, and normal company functions.
Finshore Management Services Limited is the e-book operating lead supervisor of the Presstonic Engineering IPO, whereas Cameo Corporate Services Limited is the registrar for the difficulty. The market maker for Presstonic Engineering IPO is Nikunj Stock Brokers.
Presstonic Engineering Limited was integrated in 1996. It manufactures merchandise for Metro Rail Rolling Stock, Metro Rail Signalling and Infrastructure.
Presstonic Engineering manufactures Metro Rail Rolling Stock Products, Metro Rail Signalling Products, and Infrastructure Products for world and home OEMs engaged within the manufacture and upkeep of rail and metro rail rolling inventory and signalling tools.
(*164*) revenue after tax throughout the monetary 12 months ended March 2023 stood at Rs 2.56 crore and its income was at Rs 21.13 crore.
(The story and headline have been up to date with the newest knowledge until 3:55 pm)
