New Swan Multitech SME IPO GMP

New Swan Multitech Limited, a prominent engineering-led manufacturer, is all set to launch its SME IPO on the BSE SME Exchange. This IPO has generated a lot of interest in the market, and investors are eagerly awaiting its listing. In this blog post, we will delve into the details of New Swan Multitech SME IPO, including its Grey Market Premium (GMP), company background, strengths, and the objectives of the IPO.

New Swan Multitech SME IPO Details:

  • Issue Size: The total issue size of New Swan Multitech SME IPO is Rs 33.11 Crores, comprising only Fresh issue of shares.
  • Face Value: Each share has a face value of Rs 10.
  • Price Band: The price band for the IPO is set at Rs 62.00 to Rs 66.00 per share.
  • Lot Size: Investors are required to apply for at least one lot of 2000 shares, and in multiples of 2000 shares thereafter.
  • IPO Dates: The IPO is scheduled to open for subscription from 11th January 2024 to 15th January 2024.

Also Read: Upcoming IPO in India

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New Swan Multitech SME IPO Grey Market Premium (GMP):

The Grey Market Premium (GMP) for New Swan Multitech SME IPO is an important indicator of market sentiment and demand for the IPO. As of the latest update, the GMP is Rs 53. This means that the estimated listing price for the IPO is calculated by adding the cap price of Rs 66 (the upper end of the price band) to the GMP, resulting in an estimated listing price of Rs 119 per share. This represents an expected gain of 80.30% per share over the IPO price.

Here is a table summarizing the GMP for New Swan Multitech SME IPO for the past few days: [ Last Updated: 18 Jan, 2024; 09:00]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
18-01-2024Rs 66.00₹5380600₹119 (80.30%)
17-01-2024Rs 66.00₹5380600₹119 (80.30%)
16-01-2024Rs 66.00₹6091200₹126 (90.91%)
15-01-2024Rs 66.00₹6091200₹126 (90.91%)
14-01-2024Rs 66.00₹5076000₹116 (75.76%)
13-01-2024Rs 66.00₹5076000₹116 (75.76%)
12-01-2024Rs 66.00₹3959300₹105 (59.09%)
11-01-2024Rs 66.00₹3756200₹103 (56.06%)
10-01-2024Rs 66.00₹3756200₹103 (56.06%)
09-01-2024Rs 66.00₹3756200₹103 (56.06%)
08-01-2024Rs 66.00₹3756200₹103 (56.06%)
07-01-2024Rs 66.00₹3553200₹101 (53.03%)
06-01-2024Rs 66.00₹3350200₹99 (50%)
05-01-2024Rs 66.00₹2335000₹89 (34.85%)
04-01-2024₹0

Also Read: When Can a Company Go for IPO in India

What is Grey Market Premium (GMP)?

The Grey Market Premium (GMP) is the price at which an IPO is traded in an unofficial and unregulated grey market before its official listing on the stock exchange. It reflects the market’s expectation of how the IPO will perform on the day of listing. A positive GMP suggests that the IPO is likely to list at a profit, while a negative GMP indicates that the IPO may list at a discount.

However, it’s essential to note that GMP can be highly volatile and speculative, and it should not be the sole basis for making investment decisions. Investors should thoroughly analyze the fundamentals, financials, and business prospects of the company before considering an investment in the IPO.

Also Read: What is GMP in IPO: Understanding Grey Market Premium (GMP) in IPOs

About New Swan Multitech Limited:

New Swan Multitech Limited, established in 2014, is an engineering-led manufacturer specializing in the production of precision-engineered components and parts for the automotive industry (auto components) and agricultural farm machinery (agricultural implements).

The company offers a wide range of precision machined tubular assemblies, welded assemblies, precision brackets, and sheet metal parts for the automotive sector. These components are essential for two-wheeler and passenger car vehicles, making New Swan Multitech a vital player in the automotive supply chain.

Additionally, the company manufactures and supplies various agricultural implements that cater to different aspects of modern farming, such as soil preparation, sowing, crop management, harvesting, and crop residue management. These implements are crucial for enhancing agricultural productivity.

Also Read: Benefits and Risks of Investing in IPOs: A Comprehensive Guide

New Swan Multitech SME IPO Strengths:

  1. In-house Manufacturing Capabilities: The company’s in-house manufacturing capabilities allow for better control over product quality and cost-efficiency.
  2. Large Base of Dealers and Customers: New Swan Multitech has established strong relationships with a vast network of dealers and customers, contributing to its market presence.
  3. Wide Range of Products: The company offers a diverse range of products, catering to both the automotive and agricultural sectors, ensuring revenue diversification.
  4. Stringent Quality Control Mechanism: New Swan Multitech maintains a rigorous quality control mechanism to ensure standardized product quality.
  5. Experienced Management Team: The company benefits from a management team that combines both youth and experience, along with a dedicated workforce.

New Swan Multitech SME IPO Objectives:

The Net Proceeds from the IPO are proposed to be used for the following purposes:

  1. Funding of capital expenditure towards the purchase of certain machinery for the existing manufacturing unit located at Raian, Ludhiana.
  2. Repayment of a portion of certain borrowings availed by the company.
  3. Meeting working capital requirements.
  4. General corporate purposes.

Also Read: What is IPO?: Benefits of Investing in an IPO

New Swan Multitech SME IPO Dates:

  • SME IPO Open Date: 11th January 2024
  • SME IPO Close Date: 15th January 2024
  • Basis of Allotment Finalization Date: 16th January 2024
  • Refunds Initiation Date: 17th January 2024
  • Credit of Shares to Demat Account: 17th January 2024
  • SME IPO Listing Date: 18th January 2024

Investors interested in the New Swan Multitech SME IPO should carefully evaluate the company’s fundamentals, market conditions, and their own investment goals before making an informed decision. IPO investments come with risks, and it’s crucial to conduct due diligence and seek advice from financial experts if needed before participating in the IPO.New Swan Multitech SME IPO GMP

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