Unlisted shares of Esconet Technologies Ltd are trading Rs 77 higher in the grey market, which is 91.67 per cent listing gain from the public issue
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Esconet Technologies IPO: The initial public offering of supercomputing solutions provider Esconet Technologies Ltd, which was opened for public subscription on Friday, February 16, has received an overwhelming response from investors. Till 11:40 am on the second day of bidding on Monday, February 19, the Rs 28.22-crore SME IPO received 38.58 times subscription, garnering bids for 8,60,38,400 shares as against 22,30,400 shares on offer.
The IPO will be closed on Tuesday, February 20.
The retail category has received 62.55 times subscription and the non-institutional quota got 32.29 times subscription. The qualified institutional buyer (QIB) category has received 1.32 times subscription.
The allotment of Esconet Technologies IPO will take place on February 21, while its listing will take place on the NSE SME on February 23, 2024.
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Esconet Technologies IPO GMP Today
According to market observers, unlisted shares of Esconet Technologies Ltd are trading Rs 77 higher in the grey market as compared with its issue price. The Rs 77 grey market premium or GMP means the grey market is expecting an 91.67 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Esconet Technologies IPO Details
Esconet Technologies IPO is entirely a fresh issue of 33.6 lakh shares. The price band of the IPO was fixed at Rs 80 to Rs 84 per share. The minimum lot size for an application is 1,600 shares.
The minimum amount of investment required by retail investors is Rs 1,34,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,68,800.
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Corporate Capitalventures Pvt Ltd is the book running lead manager of the Esconet Technologies IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Esconet Technologies IPO is Ss Corporate Securities.
