Apex Ecotech IPO shares to debut today. Here's what GMP indicates
Apex Ecotech will debut on the NSE SME platform on Wednesday. Ahead of the listing, the company's shares were trading with a GMP of Rs 45 in the grey market.
Considering the upper price band of Rs 73, the stock is expected to see a listing premium of just over 60%.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The Rs 25 crore SME IPO received a massive subscription of over 400 times at close, driven by strong bidding from retail and non-institutional investors.
The net proceeds from the public offer will be used for working capital requirements, public issue expenses and general corporate purposes.
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