Solarium Green Energy IPO subscribed over 2 times so far on Day 3: Check GMP, price band and other details
The retail portion of the issue was subscribed 2.33 times, while the issue was subscribed by 95% in the non-institutional investors’ category on the final day of bidding. Meanwhile, the qualified institutional buyers had subscribed by 2.71 times of the allotted portion.
Solarium Green Energy IPO’s GMP on Day 3
Ahead of listing, the company's shares were trading with a GMP of Rs 10 in the unlisted market on Monday, indicating a premium of over 5% over the upper end of the IPO price band of Rs 191.
Proceeds from the IPO
The company plans to use the net proceeds from the IPO to fund working capital requirements and for general corporate purposes.
Check Solarium Green Energy IPO price band
Solarium Green Energy has priced its IPO in the range of Rs 181-191 per share, where investors can bid for 600 shares in one lot. About 20% is reserved for institutional investors, 40% for retail investors and 40% for non-institutional investors.
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