Jay Bee Laminations IPO: The initial public offering (IPO) of Jay Bee Laminations Ltd has been receiving strong demand from investors as the issue is has been heavily oversubscribed so far. Jay Bee Laminations IPO opened for bidding on August 27 and will close on August 29.
Jay Bee Laminations is a manufacturer and supplier of a range of products, such as electrical laminations, slit coils, and assembled cores consisting of cold-rolled silicon steel.
Jay Bee Laminations IPO is an SME IPO and the company plans to raise nearly ₹89 crore from the primary market.
As the IPO has been receiving strong response from investors, let us check Jay Bee Laminations IPO GMP, subscription status and other key details:
Jay Bee Laminations IPO has been subscribed 11.72 times so far on Wednesday, the second day of the bidding process. The public issue received bids for 4.77 crore equity shares as compared with 40.78 lakh shares on the offer, according to the subscription data available till 2:10 pm.
The IPO has been subscribed 19.68 times in the retail category, and 8.19 times in the Non-Institutional Investors (NII) so far.
Jay Bee Laminations shares are commanding a decent premium in the grey market. Jay Bee Laminations IPO GMP today, or grey market premium today, is ₹85 per share, according to stock market observers. This indicates are Jay Bee Laminations shares are trading at ₹231 apiece in the grey market, a premium of 58.22% to the issue price of ₹146 per share.
Jay Bee Laminations IPO opened for subscription on Tuesday, August 27, and will close on Thursday, August 29. The IPO allotment is expected to be finalized on August 30, and the IPO listing date is likely September 3. Jay Bee Laminations IPO is an SME IPO and the equity shares of the company will be listed on NSE SME.
Jay Bee Laminations IPO price band is set at ₹138 to ₹146 per share. The company intends to raise ₹88.96 crore from the book-built issue which is a combination of fresh issue of 45.7 lakh equity shares worth ₹66.72 crore and an offer-for-sale (OFS) of 15.23 lakh shares aggregating to ₹22.24 crore.
The IPO lot size is 1,000 shares and the minimum investment amount required by retail investors is ₹146,000.
The company plans to utilize the net issue proceeds for funding working capital requirements and general corporate expenses.
Swaraj Shares and Securities Pvt Ltd is the book running lead manager of the Jay Bee Laminations IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
