The IPOs of two companies Phoenix Overseas and Kalana Ispat will hit the market on Thursday, September 19. Phoenix Overseas is a Kolkata-based firm that is in the business of commodities such as food grains, dry red chillies, coriander, cumin seeds, tea, pulses, soya bean meal, and rice bran de-oiled cake as well as animal feeds. Kalana Ispat is based in Ahmedabad that manufactures MS Billets and Alloy Steel Billets of various grades.
Phoenix Overseas issue size, price
It is floating an IPO to mop up Rs 36.03 crore from the market. It has a fresh issue component of Rs 29.31 crores and an OFS (offer for sale) of Rs 6.72 crores.
The price of an equity share of face value of Rs 10 has been fixed at Rs 61-64. A retail investor has to invest in at least 2,000 shares which will cost Rs 128,000. The investible lot for HNIs is just double that amount.
Phoenix Overseas GMP
According to investorgain, the GMP on September 17 stood at Rs 10. It indicates a listing gain of 15.62%. However, GMP is an unofficial estimate and can change.
Phoenix Overseas issue dates
The process of application for subscription will begin on Thursday, September 19. Bidding will close on September 23, while the allotment of shares will be finalised on September 24, 2024. The shares will be listed on NSE SME segment on September 26, 2024.
Kalana Ispat issue details
Ahmedabad-based Kalana Ispat is floating an IPO to raise Rs 32.59 crores. It consists of a fresh issue only and has no OFS component. The issue opens for subscription on September 19. The process of bidding will end on September 23, while the allotment of shares of Kalana Ispat will be done on September 24. This share too will be listed on the SME segment of NSE on September 26.
Kalana Ispat share price, lot size
Each equity share has been priced at Rs 66 and the minimum investible lot has been fixed at 2,000 shares, involving a cost of Rs 1.32 lakh (for retail investors). The lot size for HNIs is double this amount.
Kalana Ispat GMP
Investorgain tells us that the GMP on September 17 is Rs 10 that indicates a listing gain of 15.15%. However, it is an unofficial estimate that can change.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
The shares of Phoenix Overseas and Kalana Ispat are supposed to list in the SME segment of NSE. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
