MK Products’ IPO has received tremendous response on day one. Amkay Products IPO has been subscribed more than 35 times on the first day. There is still a chance to bet on the company’s IPO. MK Products’ IPO is open for bidding till May 3, 2024. The company’s shares are already making waves in the gray market. Shares of MK Products are currently trading at a premium of over 80 percent in the gray market.
Shares of the company Rs. Close to 100 can be listed
The share price of Amkay Products in the IPO is Rs 55. At the same time, the company’s shares are trading at a premium of Rs 45 in the gray market. Accordingly, shares of MK Products may be listed in the market in the range of Rs 100. That is, investors who will be allotted shares of the company in the IPO can expect a profit of around 82% on the day of listing. Allotment of shares in the shares of the Company will be final on 6 May 2024. At the same time, shares of MK Products will be listed on the market on May 8. The shares of the company will be listed on the SME platform of the Bombay Stock Exchange.
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Bets were placed on the IPO more than 35 times on the first day
The Amkay Products IPO was open for subscription on 30 April 2024. Total bets on the company’s IPO on the first day were 35.18 times. Retail investors’ quota in MK Products’ IPO was subscribed 54.14 times on the first day. At the same time, non-institutional investors (NII) have subscribed 37.60 times the quota. While 0.06 times the quota of qualified institutional buyers has been subscribed. Retail investors can bid for only 1 lot in the MK Products IPO. 1 lot of IPO has 2000 shares. That is, retail investors invested Rs. 110,000 has to be invested. The total size of public issue of MK Products is up to Rs 12.61 crore.
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