Avi Ansh Textile IPO: The initial public offering (IPO) of Avi Ansh Textile opened for subscription on Friday. Avi Ansh Textile is a cotton yarns manufacturing company looking to raise nearly ₹26 crore from primary market.
Avi Ansh Textile IPO is an SME IPO and will remain open till September 24. The equity shares of the company will be listed on the NSE SME platform.
Let us check Avi Ansh Textile IPO GMP today, subscription status and other key details on the first day of the bidding.
Avi Ansh Textile IPO has been subscribed 7.5 times so far on Tuesday, the final day of the bidding process. The public issue received bids for 3.02 crore equity shares as against 39.81 lakh shares on the offer, according to data available till 3:10 pm. The issue was subscribed 1.16 times by the end of Day 1 and 4.08 times by Day 2.
The IPO has been subscribed 10.42 times in the retail category, and 4.79 times in the Non-Institutional Investors (NII) category so far.
Avi Ansh Textile IPO GMP today, or grey market premium today, is ₹2 per share, according to stock market experts. This shows that Avi Ansh Textile shares are trading higher by ₹2 at ₹64 apiece in the grey market, a premium of 3.23% to the issue price of ₹62 per share.
The GMP declined from ₹8 in the previous session, September 23 and ₹10 on September 22.
Avi Ansh Textile IPO commenced on Friday, September 20, and will conclude on Tuesday, September 24. The IPO allotment is expected to be finalized on September 25, and the IPO listing date is September 27.
Avi Ansh Textile IPO price band is ₹62 per share. The company plans to raise ₹25.99 crore from the fixed price issue which comprises entirely a fresh issue of 41.92 lakh equity shares.
The IPO lot size is 2,000 shares and the minimum of investment amount required by retail investors is ₹124,000.
The company proposes to utilize the net issue proceeds towards funding working capital requirements, term loan repayment and general corporate purposes.
3Dimension Capital Services is the book running lead manager of the Avi Ansh Textile IPO, while Skyline Financial Services Private Ltd is the IPO registrar.
