Service Care IPO: Issue subscribed 38% so far on first day; QIB portion fully booked
IPO Subscription Status: Service Care IPO opened for public subscription on Friday, July 14. The initial public offering (IPO) of the workspace administration services provider has seen decent response from the Qualified Institutional Buyers (QIBs). As per the latest subscription status, Service Care IPO has been subscribed 38% so far on July 14, the first day of the bidding process.
It received bids for 11.04 lakh shares as against 30.86 lakh equity shares on the offer. Service Care IPO has so far received 34% subscription in the retail category and 27% in the Non-Institutional Investors’ (NII) category. The QIB portion has been fully booked, till 2:40:00 pm.
The Service Care IPO is an SME IPO and will close on July 18. The IPO consists of a fresh equity issue of up to 30.86 lakh shares, aggregating up to ₹20.68 crore. The price band for the issue has been set at ₹63-67 per share.
The lot size of Service Care IPO is 2,000 shares and the minimum investment amount required for retail investors is ₹1,34,000. Read here: Service Care IPO: Issue opens on July 14; Check price band, dates, GMP, other key details 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. Service Care Ltd proposes to utilise the issue proceeds to meet incremental working capital requirements and general corporate purpose. The lead manager to the issue is Swastika Investmart, while Integrated Registry Management Services is the IPO registrar.
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