Indian Emulsifier share price lists with stellar 225% premium, at ₹430 on the NSE SME
₹430 a piece on the NSE SME on Wednesday. Indian Emulsifier share price post listing hit highs of ₹451.50 and lows of ₹410.05 The Issue that opened for subscription on the Monday 13 May 2024, had closed on Friday 17 May 2024. The issue received an overwhelming response being subscribed 460 times and 484 times in the retail category.
The Grey Market premium or the GMP of the Indian Emulsifiers IPO also indicated towards firm listing of Indian Emulsifiers share price. The GMP or Grey Market Premium for the Indian Emulsifier IPO stood at +240, as per investorgain.com data. This showed that the price of Indian Emulsifier shares were selling at a premium of ₹240 in the Grey market.
Also Read- Awfis Space Solutions IPO opens today. Check GMP, subscription status, should you subscribe The Indian Emulsifier IPO projected listing price thereby stood at ₹372 per share. In other words market participants were factoring Indian Emulsifier Share price listing at ₹372, which was 181.82% more than the IPO price of ₹132, taking into account the upper end of the IPO pricing band and the current premium on the grey market.
The ₹42.39 crore Indian Emulsifier IPO comprises a new issue of 3,211,000 equity shares having a face value of ₹10 and there isn't any component of offer for sale. Also Read- Go Digit IPO allotment likely to be out today. Latest GMP, steps to check status The net proceeds from the issue will be used by Indian Emulsifier to finance the following objectives: covering the cost of the civil work and its installation; covering the working capital needs of the company; covering the capital expenditure requirements for plant and machinery; and for general corporate purposes.
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