Jamnagar-based Winsol Engineering’s IPO GMP soars over 250% as issue booked 400x on last day
IPO) of Jamnagar-based Winsol Engineering has received bumper response from investors with an overall subscription of 460 times on the last day of the bidding process.
The issue received bids for over 100 crore shares as against just 22 lakh shares on offer.
The IPO is entirely a fresh issue of 31.15 lakh shares and through the issue, the company aims to raise nearly Rs 23 crore. The company is offering its shares at Rs 71-75 apiece, and investors can bid for 1,600 shares in one lot.
The net proceeds from the public offer will be used to meet working capital requirements, for general corporate purposes, and for public issue expenses.
Based in Jamnagar, Winsol Engineers is an integrated engineering, procurement, construction and commissioning company providing Balance of Plant (BoP) Solutions for both Wind and Solar power generation companies.
In the unlisted market, the company's shares are trading with a premium of Rs 190, which is over 250% compared to the issue price.
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Meanwhile, the SME IPO of Refractory Shapes was booked 133 times so far on the last day. The issue, which received bids for 57 crore shares, will close on Thursday.
The IPO is entirely a fresh equity issue of 60 lakh shares and through the issue, the company aims to raise nearly Rs 18.6 crore.
Refractory Shapes has fixed a price band of Rs 27-31 apiece, and investors can bid for 4,000 shares in one lot.
The net proceeds from the public offer will be used for the funding of
