Share Samadhan initial public offerings (IPO), which opened for subscription on September 9, was subscribed over 13.63 times on the last day of bidding. The small and medium enterprise (SME) IPO received 3,17,39,200 bids against offered 23,28,000.
Share Samadhan, formerly known as Tiger Island Hospitality Private Limited, was established in 2011. The company provides a comprehensive range of services designed to help clients safeguard and recover their investments or funds effectively. As of August 28, 2024, it employed 48 people.
Share Samadhan has allocated 50 per cent of its net offer to qualified institutional bidders (QIBs), 15 per cent to non-institutional investors (NIIs), and 35 per cent to retail investors for its IPO.
For the financial year ending March 31, 2024, the company reported a net profit of ₹3.91 crore on a revenue of ₹9.96 crore. In comparison, for the previous financial year ending March 31, 2023, the revenue was ₹2.76 crore with a net profit of ₹0.48 crore.
The SME IPO received 3,17,39,200 bids against offered 23,28,000 on the third day of subscription on September 11. The Share Samadhan IPO was subscribed over 13.63 times, as per data available on BSE.
Retail investors showed the maximum interest as the portion received highest bid among all categories. The retail category was subscribed 18.04 times on the final day.
Meanwhile, NII category received 16.87 subscription and QIB portion was subscribed 2.66 times on Wednesday, September 11.
The Share Samadhan IPO consists solely of a fresh issue of 32,51,200 equity shares, each with a face value of ₹10. Through this initial stake sale, the company aims to raise a total of ₹24.06 crore. The shares are expected to be listed on the BSE SME platform.
The price band for the Share Samadhan IPO has been set between ₹70 and ₹74 per share, with a face value of ₹10 per share.
Narnolia Financial Services serves as the sole book running lead manager for the Share Samadhan IPO, with Skyline Financial Services acting as the registrar. Nikunj Stock Brokers is the market maker for the offering.
The allotment for the Share Samadhan IPO is anticipated to be finalized on Thursday, September 12. The IPO is expected to list on the BSE SME, with a tentative listing date set for Monday, September 16.
The shares of Share Samadhan IPO are currently trading at a premium of ₹0 in the grey market, as per investorgain. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
