Service Care IPO: Issue opens on July 14; Check price band, dates, GMP, other key details
₹20.68 crore. The company has set the price band for the issue at ₹63-67 per share. The company proposes to utilise the issue proceeds to meet incremental working capital requirements and general corporate purpose.
The lot size of Service Care IPO is 2,000 shares and the minimum investment amount required for retail investors is ₹1,34,000. The company will fix the basis of allotment on July 21 and initiate refunds on July 24. It will credit the shares to the demat accounts of the eligible investors on July 25.
Service Care share listing is expected to take place on July 26 at the NSE SME Emerge platform. Also Read: Netweb Technologies IPO: Price band fixed at ₹475-500 per share; Check details here The company has reserved about 50% of the offer for qualified institutional buyers (QIB), 15% for non-institutional investors (NII) and the rest 35% for retail investors. The lead manager to the issue is Swastika Investmart, while Integrated Registry Management Services is the IPO registrar.
Service Care Ltd offers integrated services in facility management and payroll management. It serves clients from various segments like Engineering, Education, Manufacturing, Infrastructure, Government & Banking, Information Technology, healthcare, etc. The company reported revenue of ₹132.17 crore and net profit of ₹3.02 crore for the period ending January 2023.
Service Care IPO GMP today, or grey market premium today, is ₹5 per share. The shares of Service Care Ltd are trading higher by ₹5 in the grey market, as per market observers. The GMP today indicates that the Service Care shares are likely to be listed at ₹72 apiece, which is at a premium of 7.5% to the issue price.
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