Patek Fitwell Tube Components is an SME IPO offering 12.00 crore in 24 lakh equity shares with a face value of Rs. 10. The gift has value 50 per share. 3000 shares is the minimum limit order quantity. The IPO commenced trading on April 5, 2023 and closes today, April 12, 2023. The Registrar to the IPO is BigShare Services Private Limited and FedEx Securities Limited is the Lead Manager to the IPO.
Pure Broking Private Limited will be the market maker for the SME IPO of Patek Fitwell Tube Components Limited. The promoters of the company are Bharatbhai Jivrajbhai and Jaysukhbhai Popatbhai Limbani. Pattech Fitwell Tube Components is going to issue 2,400,000 equity shares in the public market. The offering offers up to 1,200,000 shares to retail investors and 1,200,000 shares to other investors including institutional, corporate and HNI applicants (NIIs and QIBs). As per the terms of the offer, HNI/NII investors will receive 50% of the Net Offer, with the remaining 50% going to retail investors.
On April 12, 2023, the IPO of Patek Fitwell Tube Components was subscribed 1.97 times on its last day, 1.90 times in retail and 2.05 times in others. Pattech Fitwell Tube Components SME IPO was subscribed 0.62 times on Day 1, 0.78 times on Day 2, 1.07 times on Day 3 and 1.23 times on Day 4 of the issue.
In the retail category, a total of 22,80,000 shares were bid against an offer of 12,00,000 shares, while a total of 24,57,000 shares were bid for the NII category, against an offer of 12 lakh shares. A total of 47,37,000 shares were bid against the total offer of 24 lakh shares.
The basis of allotment will be completed on April 18, 2023 and reimbursement will start from April 19, 2023. The company is set to debut on NSE SME segment on April 21, 2023.
But 6 per share today, GMP movement is negative, indicating discounted listing on stock exchanges. As a result, Pattech Fitwell Tube Components Ltd. The fixed issue price of the IPO is Rs. 50. The expected listing price is marked as follows. 44 per share as indicated by GMP on April 12, 2023 and expects listing at a gray market discounted price. The discount GMP could be indicative of a negative pricing listing on NSE SME as a GMP of -6 at the set IPO price of Rs 50 suggests a listing discount of -12.00% for Pattek Fitwell Tube Components Ltd.
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