Punjab News Network

Check Subscription Status and GMP Today: Atmastco IPO Opens Today

<p><strong>Atmastco IPO:</strong> On Thursday, February 15, the engineering, procurement, and construction company Atmastco Ltd. started for business. On the first day of bidding, which began at 11:10 am, 27% of the Rs 56.25-crore SME IPO was subscribed. Bids were received for 18,59,200 shares, out of the 69,39,200 shares that were offered.</p>
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<p><strong>The IPO will be accessible until February 20.</strong></p>
<p>The non-institutional quota garnered 0.04 times as many subscriptions as the retail category, which received 0.50 times as many.</p>
<p>On February 21, the Atmastco IPO will be allotted, and on February 23, 2024, it will be listed on both NSE SME.</p>
<p><strong>IPO GMP for Atmastco Today</strong></p>
<p>Market watchers claim that unlisted shares of Atmastco Ltd. are selling on the gray market for Rs. 30 more than the company’s issue price. The grey market anticipates a 38.96% listing gain from the public offering, as shown by the Rs 30 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.</p>
<p>The willingness of investors to pay above the issue price is shown by the “grey market premium.”</p>
<p><strong>Details of Atmastco’s IPO</strong></p>
<p>According to a release, the Atmastco IPO consists of an Offer For Sale (OFS) of 18.25 lakh shares at a fixed price of Rs 77 per share, together with a new issuance of 54.8 lakh equity. The business plans to raise Rs 42.2 crore via the new issuance and Rs 14.06 crore through OFS at this pricing.</p>
<p>The primary purpose of the proceeds from the new issuance will be to finance the company’s working capital needs. Additionally, a portion of the funds will be used for general business needs and loan repayment. Subscriptions for the first public edition will be accepted starting on February 15 and running through February 20.</p>
<p>With an IPO that opens for subscription on February 15, it hopes to collect little more than Rs 56 crore. Shares of the firm with its headquarters in Bhilai will be listed on the National Stock Exchange’s Small and Medium Enterprise (SME) platform, NSE Emerge, after the conclusion of the Initial Public Offering (IPO).</p>
<p>The business, situated in Chattisgarh, is now working on projects valued over Rs 720 crore. Following the minimum of 1,600 equity shares, investors may apply for multiples of 1,600 equity shares.</p>
<p>For the public offering, Affinity Global Capital Market Private Ltd is the only lead manager.</p>