Maxposure IPO booked 505 times on last day; GMP soars to nearly 170%
IPO of Maxposure was booked by a massive 505 times on the last day of the bidding process, led by robust demand from non-institutional and retail investors.
The category reserved for NIIs was subscribed 812 times, followed by retail investors at 672 times and QIBs at 30 times.
The IPO is completely a fresh equity issue of 61.4 lakh shares and through the issue, the company plans to raise Rs 20.26 crore.
The net proceeds from the offer will be used for funding expenses incurred towards various certifications from various regulators, working capital requirements, repayment of debt, and general corporate purposes.
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Maxposure IPO GMP
In line with the subscription demand, the company's shares are fetching a bumper premium of Rs 59 in the unlisted market. The IPO is priced at Rs 33 at the upper end.
The IPO is entirely a fresh equity issue of up to 61.4 lakh shares aggregating to Rs 20.26 crore.
Maxposure is a diverse new-age media and entertainment company offering 360-degree services across multiple distribution platforms.
