Konstelec Engineers IPO: The initial public offering of Konstelec Engineers Ltd, which was opened for public subscription on Friday, January 19, has received a whopping response from investors. Till 6:22 pm on the second day of bidding on Tuesday, January 23, the Rs 28.7-crore SME IPO received 145.53 times subscription, garnering bids for 39,70,04,000 shares as against 27,28,000 shares.
The IPO will be closed on Wednesday, January 24. The share allotment of the Konstelec Engineers IPO will take place on January 25, while its listing date is January 30.
Konstelec Engineers IPO GMP Today
According to market observers, unlisted shares of Konstelec Engineers Ltd are trading Rs 57 higher in the grey market as compared with its issue price. The Rs 57 grey market premium or GMP means the grey market is expecting a 81.43 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Konstelec Engineers IPO Details
Konstelec Engineers IPO is a Rs 28.70-crore IPO and is entirely a fresh issue of 41 lakh shares.
The price band of the Konstelec Engineers IPO has been fixed at Rs 66 to Rs 70 per share. The minimum lot size for an application is 2,000 shares. The minimum amount of investment required by retail investors is Rs 1,40,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 2,80,000.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Konstelec Engineers IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Konstelec Engineers IPO is Spread X Securities.
(The headline and story have been updated with the latest subscription and GMP data till 6:22 pm on January 23)
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