Silkflex Polymers IPO: Silkflex Polymers (India) Ltd has launched its initial public offering (IPO) on Tuesday, May 7, to raise over ₹18 crore from the primary markets. The bidding for Silkflex Polymers IPO will remain open till Friday, May 10.
Silkflex Polymers IPO is an SME IPO and the equity shares of Silkflex Polymers (India) will be listed on NSE SME platform.
Let us check Silkflex Polymers IPO subscription status, latest GMP and other key details of the SME IPO.
Silkflex Polymers IPO Subscription Status
Silkflex Polymers IPO has been subscribed 0.59 times so far on Tuesday, the first day of the bidding process. The public issue received bids for 19.52 lakh equity shares as against 33.04 lakh shares offered, as per data available till 2:35 pm.
The IPO has been subscribed 1.04 times in the retail category and 0.15 times in the Non-Institutional Investors (NII) category so far.
Also Read: Indegene IPO Day 2: Should you apply or not? Check GMP, key dates, subscription status, more
Silkflex Polymers IPO GMP Today
Silkflex Polymers IPO GMP today, or grey market premium today, is ₹5 per share, as per stock market observers. This indicates that Silkflex Polymers shares trading at a premium of 9.62% at ₹57 apiece in the grey market as against its IPO price of ₹52 per share.
About Silkflex Polymers IPO
Silkflex Polymers IPO opened for subscription on May 7 and will close on May 10. The IPO allotment is expected to be finalized on May 13 and the equity shares of the company will list on NSE SME with a tentative listing date fixed on May 15.
Silkflex Polymers IPO price band is fixed at ₹52 per share. The SME IPO is a fixed price issue worth ₹18.11 crore which is entirely a fresh issue of 34.82 lakh shares.
The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹104,000.
Also Read: Premier Roadlines IPO to open May 10, price band set at ₹63-67 per share
The company proposes to utilize the net issue proceeds towards funding the acquisition of land, funding the capital expenditure requirements towards purchase of plant and machineries, working capital requirements and general corporate purposes.
Shreni Shares Limited is the book running lead manager of the Silkflex Polymers IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
Silkflex Polymers India sells textile printing inks and water-based wood coating polymers produced by Silkflex Polymers Sdn. Bhd. Malaysia. The company offers 108 textile printing ink products and 51 wood coating polymer products and has a capacity of 1,000 MT per month.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 07 May 2024, 02:39 PM IST