Akanksha Power IPO Day 3: Check subscription status, GMP and other details
₹52 to ₹55 per share. The issue witnessed a stellar response from investors and was subscribed 117.39 times on the final day of bidding on December 29. It had received bids for 38,97,20,000 shares as against 33,20,000 on offer.
The retail portion of the SME IPO was subscribed 110.44 times, followed by Non Institutional Investors (NII) quota was subscribed 238.60, Qualified Institutional subscribed 38.51 times. The issue was subscribed 4.35 times on the opening day, with retail portion being booked 3.95. On the second day, the IPO was subscribed 19.36 times, retail quota booked 27.62.
The grey market premium (GMP) of the public offer was ₹10 per share on December 29 down from ₹15 per share yesterday. According to data available on Chittorgarh, the listing price of the issue is expected to be ₹65 per share, which is 18.18% higher than the issue price. However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.
Akanksha Power and Infrastructure IPO is a book-built issue of ₹27.49 crores and is entirely a fresh issue of 49.98 lakh shares. The minimum lot size for an application is 2000 shares. The minimum amount of investment required by retail investors is ₹110,000, meanwhile, the minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹220,000.
The allotment for the Akanksha Power and Infrastructure IPO is expected to be finalized on Monday, January 1, 2024. The shares will list on NSE SME with a tentative listing date fixed as Wednesday, January 3, 2024. Narnolia Financial Services Ltd is the book running lead manager of the Akanksha Power and Infrastructure IPO, while Link Intime India Private Ltd is the
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