Teerth Gopicon IPO: Check Subscription Status, GMP Today.
Unlisted shares of Teerth Gopicon Ltd are buying and selling Rs 18 increased within the gray market, anticipating a 16.22 per cent itemizing achieve from the general public challenge
Teerth Gopicon IPO: The preliminary public providing of Teerth Gopicon Ltd, an engineering development and growth firm, which was opened for public subscription on April 8, has already been oversubscribed. Till 11:18 am on the second day of bidding on Tuesday, the Rs 44.40-crore SME IPO acquired 2.65 instances subscription, garnering bids for 1,00,60,800 shares towards 37,99,200 shares on supply.
The value of the Teerth Gopicon IPO has been mounted at Rs 111 per share for its preliminary public providing. The Ahmedabad-based firm, which primarily focuses on roads, sewerage and water distribution tasks, appears to lift as much as Rs 44.40 crore from the SME public challenge, the corporate stated in a press release.
The class for non-institutional buyers acquired subscribed 2.34 instances whereas the portion for Retail Individual Investors (RIIs) attracted 2.96 instances subscriptions.
The Teerth Gopicon IPO was opened on April 8. Its share allotment will happen on April 12, whereas the shares will probably be listed on NSE SME on April 16.
Teerth Gopicon IPO GMP Today
According to market observers, unlisted shares of Teerth Gopicon Ltd are buying and selling Rs 18 increased within the gray market as in contrast with its challenge value. The Rs 18 gray market premium or GMP means the gray market is anticipating a 16.22 per cent itemizing achieve from the general public challenge. The GMP is predicated on market sentiments and retains altering.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the difficulty value.
Teerth Gopicon IPO Details
The preliminary share sale opened for subscription on Monday and shut on April 10, it added. The shares of the corporate will probably be listed on NSE’s SME platform Emerge.
The preliminary public providing includes a recent challenge of 39.99 lakh fairness shares of face worth of Rs 10 every. It is a hard and fast-value challenge.
The firm proposes to make use of the online proceeds from the IPO to fund its enlargement plans. It plans to utilise Rs 33.40 crore in direction of working capital necessities and Rs 10.24 crore in direction of normal company functions.
Investors can bid for at least 1,200 fairness shares and in multiples of 1,200 fairness shares thereafter. The minimal funding is Rs 1.33 lakh.
Incorporated in 2019, Teerth Gopicon is engaged within the enterprise of highway development, sewerage and water provide in Madhya Pradesh.
The firm has labored as a registered civil contractor for numerous central and state authorities departments and has additionally undertaken constructing works for the non-public sector.
The order e-book of the corporate as of January 31, 2024, is Rs 904.98 crore.
For the April-January interval of FY2023-24, the corporate reported a internet revenue of Rs 7.84 crore and income of Rs 69.70 crore.
It reported a internet revenue of Rs 1.80 crore and income of Rs 39.15 crore in FY2022-23.
Interactive Financial Services Ltd is the only e-book-working lead supervisor, whereas Bigshare Services is the registrar for the difficulty.
