Owais Metal IPO: GMP, subscription status, issue details, all you need to know

Owais Metal and Mineral Processing ltd main interest is in metal and minerals mining and processing. It engages in the manufacturing and processing of minerals including Manganese Oxide, MC Ferro Manganese, Wood Charcoal, Ferro Alloy, Quartz, and Manganese Ore

IPO subscription Status:

Owais Metal and Mineral Processing IPO was subscribed 6.15 times by February 26, 2024 5:15:00 PM as per chittorgarh.com data. The public issue subscribed 9.70 times in the retail category, 0.01 times in QIB, and 6.02 times in the NII category.

Key things to Know-

1] Owais Metal and Mineral Processing IPO date: The public issue opened for subscription on February 26, 2024 and closes on February 28, 2024.

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2] Owais Metal and Mineral Processing IPO price: The Owais Metal and Mineral Processing IPO price band is set at ₹83 to ₹87 per share.

3] Owais Metal and Mineral Processing IPO size: The SME IPO of Owais Metal and Mineral Processing aims to raise ₹43 crore through the issuance of 49.07 lakh shares (Up to 49,07,200 Equity shares. The face value of Equity Shares is ₹10/- each. Of the total share being issues, 1,598,400 or 32.57% are being offered to the retail shareholders.

4] Owais Metal and Mineral Processing IPO Lot size: The minimum lot size for an application is 1600 Shares  and multiples thereafter. The minimum amount of investment required by retail investors is ₹139,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹278,400.

5. Owais Metal and Mineral Processing IPO allotment date: Owais Metal and Mineral Processing IPO allotment is expected to be finalized on Thursday, February 29, 2024

6. Owais Metal and Mineral Processing IPO Listing date: Owais Metal and Mineral Processing IPO is likely to list on NSE SME with tentative listing date fixed as Monday, March 4, 2024.

7 Owais Metal and Mineral Processing IPO objects of the issue:

Owais Metal and Mineral Processing intends to utilize the Net Fresh Issue Proceeds for the following Objects (“Objects of the Issue”)

a) Purchase of Equipments to Facilitate Manufacturing

b) Working Capital Requirements

c) General Corporate Purposes

8.  Owais Metal and Mineral Processing IPO registrar: Gretex Corporate Services Limited is the book running lead manager of the Owais Metal and Mineral Processing IPO, while Bigshare Services Pvt Ltd is the registrarfor the issue. The market maker for Owais Metal and Mineral Processing IPO is Gretex Share Broking.

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9. Owais Metal and Mineral Processing IPO GMP: Shares of the company are available at a premium of ₹70 in grey market today. . The GMP indicates that investors are expecting listing of the shares at ₹157, 80.46% over the issue price of ₹87.

10. Owais Metal and Mineral Processing IPO Promoters. Saiyyed Owais Ali, Sayyad Akhtar Ali, and Saiyyed Murtuza Ali are the promoters of the company..

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Published: 26 Feb 2024, 05:28 PM IST