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People are investing heavily in the IPO of Kalyani Cast Tech. The company’s IPO has been over 5 times bet on the first day itself. The company’s IPO price band is Rs 137-139. Kalyani Kast Tech’s IPO opened for subscription on 8th November and will remain open till 10th November. The gray market is already bullish on the company’s shares. Shares of Kalyani Cast Tech are currently trading at a premium of over 35 percent in the gray market.
Shares may list around Rs 190
The price band of Kalyani Cast Tech IPO is Rs. 137-139 are. At the same time, the company’s shares are trading at a premium of Rs 50 in the gray market. In an IPO, if the shares of the company are Rs. 139 at the upper price band, the company shares at Rs. 189 can be listed in the range. That is, the investors who will be allotted shares of the company in the IPO can get more than 35 percent profit on the very first day. The allotment of the company’s shares in the IPO will end on November 16. At the same time, shares of Kalyani Kast Tech may be listed on November 21. Shares of the company will be listed on the BSE SME platform.
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Subscribed more than 5 times in first day
Kalyani Kast Tech’s IPO has been subscribed 5.78 times on the first day itself. The retail quota of the company’s IPO has been subscribed 7.80 times. At the same time, non-institutional investors (NII) have subscribed 4.05 times the quota. While the Qualified Institutional Buyers (QIB) quota has been subscribed 3.52 times. Retail investors can bid for 1 lot in a company’s IPO. 1 lot of IPO has 1000 shares. That means retail investors have to invest 139000 rupees. The total public issue size of the company is Rs. 30.11 crores.
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