The initial public offering (IPO) of Maxposure Ltd, a leading provider of personalised media and entertainment services, has received an overwhelming response from investors. On the first day of bidding, the IPO saw a subscription of over 66 times, with the retail category receiving 104.39 times subscription. The unlisted shares of Maxposure Ltd are trading at a significant premium in the grey market, indicating a potential listing gain of 154.55%.
1. Strong Demand for Maxposure IPO:
The IPO of Maxposure Ltd, which opened for subscription on Monday, has witnessed robust demand from investors. By the end of the first day of bidding, the IPO received a subscription of 66.66 times, with bids for 27,11,64,000 shares against 40,68,000 shares on offer. The retail category saw an overwhelming subscription of 104.39 times, while the non-institutional investor quota received 63.41 times subscription. The qualified institutional buyers portion received 1.38 times subscription.
2. Grey Market Premium Shows Investor Confidence:
In the grey market, unlisted shares of Maxposure Ltd are trading at a premium of Rs 51 compared to the issue price. This implies a grey market premium (GMP) of 154.55%, indicating investors’ confidence in the IPO and their expectation of significant listing gains. It is important to note that the GMP is subject to market sentiments and can fluctuate.
3. Maxposure IPO Details:
The Maxposure IPO is a book-built issue with a total value of Rs 20.26 crores. It consists of 61.4 lakh fresh shares. The IPO price band was set at Rs 31 to Rs 33 per share. The minimum lot size for application is 4,000 shares, with a minimum investment requirement of Rs 1,32,000 for retail investors. GYR Capital Advisors Private Limited is the book-running lead manager, Bigshare Services Pvt Ltd is the registrar, and Giriraj Stock Broking is the market maker for the IPO.
FAQs:
Q1: What is the subscription level for Maxposure IPO on the first day of bidding?
A1: The Maxposure IPO received a subscription of over 66 times on the first day of bidding.
Q2: How much subscription did the retail category receive for the Maxposure IPO?
A2: The retail category witnessed a subscription of 104.39 times for the Maxposure IPO.
A3: The grey market premium for Maxposure IPO is currently Rs 51, indicating a potential listing gain of 154.55%.
Q4: What is the IPO price band for Maxposure IPO?
A4: The IPO price band for Maxposure IPO is set at Rs 31 to Rs 33 per share.
Q5: When will the Maxposure IPO be listed?
A5: The IPO allotment for Maxposure Ltd will take place on January 18, with the listing scheduled for January 22 on the NSE SME.
Conclusion:
The Maxposure IPO has received an overwhelming response from investors, with a subscription level of over 66 times on the first day of bidding. The retail category witnessed a particularly high subscription of 104.39 times. In the grey market, unlisted shares of Maxposure Ltd are trading at a premium of Rs 51, indicating a potential listing gain of 154.55%. Investors are eagerly awaiting the IPO allotment and subsequent listing on the NSE SME.