Read on the application
Madhusudan IPO: The Madhusudan Masala IPO opened for subscription on Monday, September 18 and will close on Thursday, September 21. The price band of the Madhusudan IPO has been fixed at ₹66 to ₹70 per equity share. The lot size of Madhusudan Masala IPO is 2,000 equity shares. Madhusudan Masala IPO, valued at ₹23.80 crore. This is an entirely fresh issue of 3,400,000 equity shares with no offer for sale (OFS) component.
How much reserve in which segment?
Retail investors can submit an application for one lot, while non-institutional investors can submit an application for at least two lots. 15% equity shares have been set aside for non-institutional investors, while the company has allotted 50% of the net IPO offer to qualified institutional bidders (QIBs). The remaining 35% of the offer will be available to retail investors. Madhusudan IPO subscription was 137.17 times on the second day today. The issue received positive response from retail investors, whose stake was 226.38 times, while non-institutional buyers’ stake was 102.16 times.
Amazing IPO: Launched at ₹15, now made a profit of ₹393600, company also gave bonus
This portion was subscribed to Qualified Institutional Buyers (QIBs). According to data from Chittorgarh.com, it was subscribed 7.47 times. Ham Securities Ltd is the book running lead manager of the Madhusudan Masala IPO, while Kfin Technologies Ltd is the registrar of the issue. Ham Finleys is the market maker for the Madhusudan Masala IPO.
The stock rallied amid tensions with India, a tie-up with Canada, the company’s IPO came in at ₹1125
What’s going on at GMP?
According to Topsharebrokers.com, shares of Madhusudan Masala were trading at a premium of ₹55 in the gray market on Wednesday. Considering the upper end of the IPO price band and the existing premium in the gray market, the estimated listing price of Madhusudan Masala shares is ₹125 per share, which is 78.57% higher than the IPO price of ₹70.