Supreme Power Equipment IPO: Retail Portion Booked 255.39 times, QIB 88.98 Times on Day 3
by Sandip Das on 26 December 2023, 4 min read
Investors responded overwhelmingly to the closure of Supreme Power Equipment Ltd initial public offering (IPO) on December 26, the last day of the IPO. On the final bidding day, the IPO garnered 257.95 times subscription, with bids for 112.92 crore shares against the offering of 43.78 lakh shares.
Non-institutional investors’ category was oversubscribed by 488.60 times. The retail individual investors (RIIs) were booked by 255.39 times, while qualified institutional buyers (QIBs) were subscribed 88.98 times.
Allotment for the IPO is set for December 27, with listing scheduled on December 29 on the SME NSE.
Supreme Power Equipment IPO involves an entirely fresh issue of 71.8 lakh shares. It has a price band set at Rs 61 to Rs 65 per share. The minimum lot size for an application is 2,000 shares, requiring a minimum investment of Rs 1,30,000 for retail investors.
Narnolia Financial Services Ltd serves as the book-running lead manager, and Purva Sharegistry India Pvt Ltd is the issue’s registrar. Share India Securities acts as the market maker for the Supreme Power Equipment IPO.
Established in 1994, Supreme Power Equipment Limited manufactures, upgrades, and renovates various types of transformers used in power generation, distribution, and other applications.
The IPO’s proceeds will be directed towards the company’s capital expenditure, working capital needs, general corporate purposes, and issue expenses.
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.
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