Aspire & Innovative IPO price band set at ₹51- ₹54 per share; check issue dates, other details of SME IPO

livemint.com:

Aspire & Innovative IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) Aspire & Innovative Limited will open for subscription on March 26, 2024 and fixed the price band for the issue today. The company is involved in sales and doorstep delivery of consumer durables products to un-banked and underbanked customer segments through commercial agreements with non-banking financial companies (NBFCs) and micro finance institutions (MFIs). Also Read: Blue Pebble IPO: Here's date, price band, size and other key details Aspire & Innovative IPO Details: Aspire & Innovative Advertising Limited has established a price band of ₹51 to ₹54 per share for the upcoming IPO.

Aspire & Innovative IPO is a book built issue of ₹21.97 crore. The issue is entirely a fresh issue of 40.68 lakh shares. The company's shares will open for subscription on March 26, 2024 and closes on March 28, 2024.

The IPO comprises 50 per cent of the net issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent of the net issue for the non-institutional investors (NII) segment. The retail investors need to contribute a minimum of ₹1.08 lakh considering the minimum lot size for an application is 2000 shares. For HNIs, the minimum bidding size is two lots, or 4000 shares, for a total investment of ₹2.16 lakh at the upper price band.