SME IPO Frenzy: Deepak Chemtex Oversubscribed 403 Times, AMIC Forging 289 Times on Final Bidding Day

In a resounding display of investor confidence, the small and medium enterprise (SME) IPO market has witnessed record-breaking subscription figures. Deepak Chemtex and AMIC Forging, two prominent companies, garnered remarkable investor interest with subscription rates of 403 times and 289 times, respectively, on the final day of bidding.

Deepak Chemtex: The IPO of Deepak Chemtex, which opened for subscription on November 29 and closed on December 1, received an astounding response from investors. Retail investors clamored to buy the shares, oversubscribing the allotted quota by a staggering 475.36 times. Qualified Institutional Buyers (QIBs) showed their confidence by subscribing 96.8 times the set aside portion, while Non-Institutional Investors (NIIs) subscribed a remarkable 642.25 times. The IPO, valued at Rs 23.04 crore, had a price band of Rs 76-80 per share.

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Also See: Deepak Chemtex IPO GMP

AMIC Forging: Not to be outdone, AMIC Forging’s IPO, which also opened on November 29 and closed on December 1, was oversubscribed by a whopping 289.05 times. Retail investors played a significant role in this success by subscribing 273.01 times their allotted shares, while NIIs and QIBs subscribed 589.27x times and 91.43x times, respectively. The IPO was valued at Rs 34.8 crore, with a price band set at Rs 121-126 per share.

Also See: AMIC Forging IPO GMP

Meanwhile, other SME IPOs have also garnered investor attention:

Graphisads: The public offering of Graphisads, which aims to raise Rs 53.41 crore, witnessed a subscription rate of 1.06 times on the second day of bidding. Retail investors and NIIs subscribed 1.21 times and 0.91 times, respectively. The IPO opened on November 30 and will close on December 5, with shares priced at Rs 111 each.

Also See: Graphisads IPO GMP

Net Avenue: Net Avenue’s IPO, which opened on November 30 and will close on December 4, received a subscription rate of 50 times on the second day of bidding. Retail investors showed strong interest, subscribing 82 times, while NIIs picked up 43 times their allotted shares. QIBs subscribed 0.36 times the portion reserved for them. The IPO, valued at Rs 10.25 crore, has a price band of Rs 16-18 per share.

Also See: Net Avenue Technologies IPO GMP

Marinetrans India: Marinetrans India’s IPO, open from November 30 to December 5, garnered a subscription rate of 3.44 times. Retail investors subscribed 5.73 times their allocated shares, while NIIs subscribed 1.15 times. The IPO, valued at Rs 10.92 crore, was offered at a price of Rs 26 per share.

Also See: Marinetrans India IPO GMP

These remarkable subscription rates reflect the growing investor interest in SME IPOs and underline the potential for small and medium enterprises to raise capital in the Indian market. The IPO market continues to be a promising avenue for companies seeking growth opportunities and investors looking to participate in the growth story of emerging businesses.

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