Medicman Organics’ IPO opens for retail investors from today. The IPO of the company will be open from today till June 21 i.e. June 25. Medicman Organics will issue 31 lakh new shares to investors through an IPO. The company’s IPO size is Rs 10.54 crore. Let us tell you that the company will allocate allotment to the investors who bet on June 26.
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Price Band of Medicman Organics
The price band of this SME IPO has been fixed at Rs 32 to Rs 34 per share. The company has created one lot of 4000 shares. Due to which any retail investor has to invest at least Rs 1,36,000. HNI should bet at least 2 lots simultaneously. That means they have to invest 2,72,000 rupees.
The company’s IPO was open to anchor investors on June 20. The IPO was followed by a raise from anchor investors (major investors) of Rs. 2.98 crore was managed to collect. The lock-in period of 50 per cent shares for anchor investors ends on July 26, 2024.
The company’s dominance in the gray market
According to the report of Investors Gain, the company’s IPO in the gray market is at a premium of Rs 50 today. Which is more than the price band. From an investor’s point of view, the position of IPOs in the gray market is excellent. If this trend continues till listing, the company will be Rs. Can debut in 84. If this happens, investors can get a profit of 147 percent on the first day itself. That means their money can be doubled on the first day itself.
The promoter of the company is Bal Kishan Gupta. He had 81.21 percent stake in the company before the IPO. The company will list on NSE SME on June 28, 2024.
How strong is the company’s balance sheet?
The company’s revenue increased by 10.13 percent in the last financial year. Profit (PAT) increased by 151 percent. In the last financial year, the profit of the company was Rs. 240.41 crores.