AVP Infracon IPO: Issue subscribed over 0.82 on day 1, retail portion fully subscribed; check GMP and other details

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AVP Infracon IPO price band set at ₹71-75 per share; check issue dates, other key details of SME IPO The AVP Infracon IPO was subscribed over 0.82 times on the first day of bidding on March 13. The SME IPO received 41,74,400 applications against offered 51,08,800 applications. The retail category received 35,93,600 shares, meanwhile, NII received 5,80,800 shares.

QIB portion remained unsubscribed on the first day. The AVP Infracon IPO opened for bidding on March 13 and will close on March 15. The SME IPO is is a book built issue of ₹52.34 crores and is entirely a fresh issue of 69.79 lakh shares.

The price band for AVP Infracon IPO has been fixed in the range between ₹71 to ₹75 per share. Retail investors have the option to bid for a minimum of 1600 shares and can increase their bid in multiples of this figure. The minimum investment amount mandated for retail investors stands at ₹120,000.

Also read: What lies ahead for SME IPOs after SEBI remarks on price manipulation? Experts weigh in The allotment of the AVP Infracon IPO is anticipated to conclude on Monday, March 18, 2024. The IPO of AVP Infracon is scheduled to be listed on the NSE SME, with a tentative listing date set for Wednesday, March 20, 2024. Share India Capital Services Private Limited acts as the book running lead manager for the AVP Infracon IPO, with Purva Sharegistry India Pvt Ltd serving as the registrar for the issue.

Share India Securities fulfills the role of market maker for the AVP Infracon IPO. The shares of AVP Infracon IPO is available at a premium of ₹20 in the grey market premium, according to market observers. This means that the estimated listing price of AVP Infracon IPO could be ₹95, which is 26.67% more than the issue price of ₹75.Milest