Shanthala FMCG Products IPO Day 2: SME issue subscribed 2 times so far; retail portion booked 1.4x
Read here: Shanthala FMCG Products IPO: Check GMP, subscription status, other key things to know Shanthala IPO GMP today, or grey market premium today, is ₹0 per share, as per market observers. This means that the company’s shares are trading at par with their issue price, without any premium or discount, in the grey market. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Shanthala FMCG Products IPO opened for subscription on October 27 and will close on October 31.
The IPO allotment is expected to be finalized on November 3 and the company may initiate refunds on November 6, while it will credit shares to the demat accounts on November 7. The equity shares of Shanthala FMCG Products Ltd are proposed to be listed on NSE SME with tentative listing date fixed as November 8, 2023. The ₹16.07-crore worth Shanthala FMCG Products IPO is entirely a fresh issue of 17.66 lakh equity shares.
The IPO price band has been fixed at ₹91 per share. Also Read: Cello World IPO opens for subscription: GMP, issue details, price band, risks, 10 key things to know before investing The IPO lot size is 1,200 shares and the minimum investment amount required by retail investors is ₹109,200. The company’s promoters are Manjunath Mallya, Shobitha Malya, Sneha Vinayak Kudva, and Yogish Mallya.
The company intends to utilize the net proceeds from the issue for funding additional working capital requirements and for general corporate purposes. First Overseas Capital Ltd is the book running lead manager for the Shanthala FMCG Products IPO, while Bigshare Services Pvt Ltd is the IPO registrar. Read all IPO-related news here"Exciting news! Mint is now
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