Saroja Pharma shares list with over 22% discount on NSE SME; end 5% higher
₹65 per share, 22.6% lower than the issue price of ₹84. However, Saroja Pharma share price gained and ended at 5% upper circuit at ₹68.25 apiece, which was still 18.75% lower than the IPO price of ₹84. Saroja Pharma Industries IPO subscription status was 8.88 times on day 4.
The issue received positive response from retail investors who's portion set was subscribed 14.83 times, and non-institutional buyers who's portion set was subscribed 2.90 times, according to data on chittorgarh.com. Saroja Pharma Industries IPO subscription status was 79% on day 1. Saroja Pharma Industries IPO subscription status was 2.12 times on day 2.
The issue was subscribed 4.39 times on day 3. Saroja Pharma IPO GMP today or or grey market premium was ₹0, which meant shares were trading at their issue price of ₹84 with no premium or discount in the grey market according to topsharebrokers.com 'Grey market premium' indicates investors' readiness to pay more than the issue price. Also Read: Jiwanram IPO: What latest GMP, subscription status signal ahead of allotment date Saroja Pharma IPO, which is worth ₹9.11 crore, is completely a fresh issue; there is no offer for sale (OFS) component.
The company plans to use the net proceeds from the offering to fund the following goals, such as setting up of manufacturing unit, to repay debt, to meet public issue expenses. Specialty Chemicals & API are the focus of Saroja Pharma Industries India Limited's trading, exporting, and supply activities. The business specialises in three different product categories: chemical, pharmaceutical intermediary, and veterinary pharmaceutical API.
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