New Delhi: Two SME IPOs have taken the Dalal Street by a storm. GPES Solar IPO and United Cotfab IPO have got robust response from investors. On day 1 of the stake sale process i.e. on Friday, June 14, 2024, the GPES Solar IPO was subscribed almost 62 times its total size. Retail portion was subscribed 89 times. While, the United Cotfab IPO had got subscribed eight times its size by day two end of its stake sale process. Its public issue had hit the floors on June 13, 2024. Both these SME IPOs will close on June 19.
Recently, SME IPOs have got lot of traction from retail investors. Throwing light on growing prominence of SME IPOs among retail investors, in an exclusive interview with Money9, stock market expert Arun Kejriwal said, “SME IPOs of companies from power and renewable energy sectors attract retail investors like a magnet. That is why such IPOs get more subscription than the set limit.”
On heavy retail traction towards GPES Solar IPO, Kejriwal added, “It is also one such company from the renewable energy sector. That is why it has got such type of response from investors. It’s the lure of this sector which has what brought investors to such IPOs.”
GPES Solar IPO GMP today
The Grey Market Premium (GMP) of the renewable energy company, GPES Solar’s stock traded at Rs 156 in the grey market. Its GMP has only shot up since the IPO opening date of June 14, 2024.
GPES Solar IPO Expected Listing Date
The stocks of the solar products manufacturing company are expected to be listed on the NSE SME on Monday, June 24, 2024. While, the tentative GPES Solar IPO allotment date is Thursday, June 20, 2024.
GPES Solar IPO Issue Size
The IPO is entirely a fresh equity issue of 32.76 lakh shares. The company aims to raise nearly Rs 31 crore through the stake sale process. While, price band has been fixed at Rs 90 – Rs 94.
United Cotfab IPO GMP today
The GMP of the high-quality yarn manufacturer, United Cotfab, traded around Rs 20 in the grey market. This signifies a listing gain of around 28 per cent.
United Cotfab IPO Expected Listing Date
The stocks of the yarn producer are expected to be listed on the BSE SME on Monday, June 24, 2024. While, the tentative United Cotfab IPO allotment date is Thursday, June 20, 2024.
United Cotfab IPO Price Band
The textile industry company’s IPO price band has been set at Rs 70 per share. The IPO is entirely a fresh issue of 51.84 lakh shares. The company aims to raise nearly Rs 36.29 crore via the stake sale.
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GPES Solar IPO GMP traded at Rs 156 in the grey market. The GMP has only shot up ever since the stake sale process has hit the floors. Business Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
