Track these 2 SME IPOs commanding over 100% GMP in unlisted market
SME IPOs are commanding a premium of over 100% above the issue price, according to the latest grey market trends.
The shares of VL Infraprojects, whose IPO opened for subscription on Wednesday, are trading with a GMP of Rs 55 in the unlisted market. This translates to a premium of over 130% to the offer price.
The company has priced the IPO, entirely a fresh equity issue of 44.1 lakh shares, at Rs 42 at the upper end.
The net proceeds from the public offer will be used for funding working capital requirements and general corporate purposes.
The company is engaged in executing water supply and sewerage infrastructure projects mainly involving the procurement of pipes and their laying, joining, and commissioning with backward integration including all allied civil engineering works like construction of civil work, pumping stations and installation of electro-mechanical equipment’s (pumping machinery) for distribution of water supply from the river to household.
Beeline Capital Advisors is acting as the lead manager to the issue and Skyline Financial Services is the registrar.
Meanwhile, the shares SA of Tech Software India, are also trading above 100% premium to the issue price. The IPO opens for subscription on July 26 and will close on July 30.
The company has fixed a price band of Rs 56-59 per share, where investors can bid for 2,000 shares in one lot and in multiples thereafter.
SA Tech Software, centered in Pune and Bengaluru, is an IT consulting Company promoted by our diligent promoters who have more
