Vishnu Prakash IPO Day 1: Issue subscribed 2.5 times so far; retail portion booked 3.47x

livemint.com:

₹308.88-crore Vishnu Prakash IPO has received strong response from investors within hours of the bidding process opening. Vishnu Prakash IPO price band has been at ₹94 to ₹99 per equity share and the IPO subscription period will end on August 28, 2023. Let us take a look at Vishnu Prakash IPO subscription status so far: Vishnu Prakash R Punglia IPO has been subscribed 2.48 times so far on Thursday, the first day of the bidding process.

Till 3:00 pm, the public issue has received bids for 5.43 crore equity shares as compared to 3.12 crore shares on the offer. Vishnu Prakash IPO has been subscribed 3.47 times in the retail category and 3.54 times in the Non-Institutional Investors’ (NII) category. The quota reserved for Qualified Institutional Buyer’ (QIB) received 1% subscription so far.

Also Read: Vishnu Prakash IPO: GMP, subscription status, review, other details. Apply or not? Vishnu Prakash IPO GMP today, or grey market premium today, is ₹65 per share, according to IPOWatch. Market observers said Vishnu Prakash IPO shares are trading at a premium of ₹65 apiece in the grey market today.

Vishnu Prakash R Punglia Ltd plans to raise ₹308.88 crore from its initial offer. The IPO will remain open till August 28. Vishnu Prakash IPO price band Is ₹94 to ₹99 per equity share.

Vishnu Prakash IPO lot size is 150 shares and a bidder can apply for a minimum of one lot. The minimum investors amount required for retail investors is ₹14,850. The public issue is proposed for listing on BSE and NSE and most likely Vishnu Prakash IPO listing date is 5th September 2023.