Srigee DLM IPO GMP: Check Day 2 Subscription Status - What Grey Market Premium Price Indicates?

The initial public offering (IPO) of Srigee DLM Ltd opened for subscription on Monday and today is the second day of the IPO.

Srigee DLM IPO: Details

On the first day of subscription, the SME issue was booked over 13 times. Non-institutional investors, led the demand for the IPO as they bid for 62,62,800 shares against the 2,46,000 on offer (subscribing 25.46 times). Additionally, retail investors bid for 90,18,000 shares against the 5,72,400 on offer (subscribing 15.75 times). Further, qualified Institutional investors subscribed 1.45 times the shares on offer.

The company is aiming to raise Rs 16.98 crore through the IPO.

Srigee DLM is a company that is involved in manufacturing and assembly services for industries such as home appliances as well as consumer durables.

The Srigee DLM IPO is a book-building issue worth Rs 16.98 crore, which comprises of a fresh issuance of 17.15 lakh shares and the price band for this IPO is set between Rs 94 to Rs 99 per share.

Srigee DLM IPO: Lot Size

The minimum lot size for the IPO for retail investors is 1,200 shares, which amounts to Rs 1,18,800. High-net-worth individuals (HNIs) need to place bids for a minimum of two lots, or 2,400 shares, aggregating to an investment worth Rs 2.37,600.

Srigee DLM IPO: GMP Today

As per Investorgrain, the latest grey market premium (GMP) for the unlisted shares of the IPO was at Rs 30 as of 11 AM on May 6. This shows that the listing price will be Rs 129 apiece, with a potential gain of 30.30%.

Srigee DLM IPO: Allotment Date

The subscription window for the IPO will remain open from May 5 to May 7. The Srigee DLM IPO share allotment status is scheduled for finalisation on May 8.

While the shares of Srigee DLM will be credited to the Demat accounts of successful bidders on May 9, and refunds for non-allottees will be done on the same day.

The tentative listing date of the Srigee DLM IPO is May 12. The shares of the company are scheduled to be listed on the BSE SME platform.

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