The Pattech Fitwell Tube Components IPO is a SME offering up to 12.00 crores in 24 lakh equity shares with a face value of 10. The price of each share in the offering is 50. The lowest amount you can order is 3000 shares. The first day of trading for the IPO was April 5, 2023, and the last day was today, April 12, 2023. Bigshare Services Pvt Ltd is the IPO’s registrar, and Fedex Securities Ltd is the IPO’s lead manager.
Pure Broking Private Ltd. will be in charge of the market for Pattech Fitwell Tube Components Ltd.’s SME IPO. Bharatbhai Jivrajbhai and Jaysukhbhai Popatbhai Limbani are the people who started the company. Pattech Fitwell Tube Components is putting out 2.4 million shares of stock on the public market. The offering gives 1.2 million shares to individual investors and 1.2 million shares to institutional, corporate, and HNI investors (NII and QIB). The terms of the offering said that HNI/NII investors would get 50% of the net offer, while retail investors would get the other 50%.
On the last day, April 12, 2023, 1.97 times as many people had signed up for Pattech Fitwell Tube Components’ IPO, 1.90 times as many in the retail category, and 2.05 times as many in the other category. On the first day, 0.62x of the Pattech Fitwell Tube Components SME IPO was bought, 0.78x on the second, 1.07x on the third, and 1.23x on the fourth.
In the retail category, there were 22,80,000 bids for the 12,000,000 shares that were offered. In the NII category, there were 24,577,000 bids for the 12,000,000 shares that were offered. Out of the 24 million shares that were offered, 47,37,000 were bid on.
On April 18, 2023, the basis for allotment will be finished, and on April 19, 2023, reimbursements will begin. On April 21, 2023, the company will make its debut on the NSE SME segment.
At 6 per share today, the GMP movement is negative, which means that the stock exchanges are selling the company at a discount. Because of this, the Pattech Fitwell Tube Components Ltd. IPO has a fixed price of Rs. 50. As of April 12, 2023, the GMP shows that the expected listing price is about Rs. 44 per share, and the grey market thinks that the company will list at a lower price. The discount GMP may be a sign of a negative pricing listing on NSE SME, since Pattech Fitwell Tube Components Ltd. has a GMP of Rs. 6 and a set IPO price of Rs. 50. This means that Pattech Fitwell Tube Components Ltd. has a listing discount of -12%.
Source: Team CurrencyVeda