Accent Microcell IPO: Retail Portion Booked 339.65 Times, QIB Portion 44.58 Times

Accent Microcell IPO opened for subscription on December 8, 2023 and will close on December 12, 2023.

Lot Size & Price Range

The Accent Microcell IPO set a price band ranging from Rs 133 to Rs 140, and the IPO lot size remains fixed at 1,000 shares.

Face Value & Issue Price

The face value of the equity shares is Rs 10 each and the issue price is 13.30 times to 14.00 times of the face value of the equity shares at the lower price band and the upper price band.

Accent Microcell IPO is a completely fresh issue of 5,600,000 equity share while there is no offer for sale (OFS) component, according to RHP.

Subscription Details

Accent Microcell IPO subscription status is 255.22 times on day 3, so far.

Retail investors showed an exceptional response, subscribing 339.65 times their portion of the issue. Non-institutional buyers also subscribed 339.06 times, as reported by data on chittorgarh.com.

Presstonic Engineering IPO: Check Out Price Band & Other Details

Qualified Institutions Buyers (QIBs) oversubscribed their allocated portion by 44.58 times.

The company has received bids for 95,04,22,000 shares against 37,24,000 shares on offer, according to data on chittorgarh.com.

Out of the net proceeds from the offering, Accent Microcell intends to use Rs 54.39 crores to build a new plant in Navagam Kheda, Gujarat, India. It plans to produce carboxymethylcellulose (CMC), sodium starch glycolate (SSG), and croscarmellose sodium (CCS). They anticipate the plant to commence commercial operations by April 2025.

_{Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.}