Travels & Rentals IPO Day3: The issue that opened for subscription on 29 August, is closing for subscription today i.e 2nd September 2024. Having seen strong investor interest, the GMP. or Grey market premium also has been rising regularly. Here is subscription status , GMP, key dates and all key details you need know
IPO for Travels & Rentals received 608.46 subscriptions by 2 September 2024, 6:36:08 PM as Per BSE data. The public issue had been subscribed 429.90 times in the retail category, and 754.64 times in the NII category.
Travels & Rentals IPO key dates and details
As the subscription period for Travels & Rentals IPO that has begun on 29th August 2024, end today i.e 2 September, 2024 the focus will shift to allotment and listing. The allocation for the Travels & Rentals IPO is anticipated to be finished on Tuesday, September 3, 2024. The Travels & Rentals IPO is scheduled to tentatively list on the BSE SME on Thursday, September 5, 2024.
Travels & Rentals' IPO price was ₹40 per share. An application for a minimum lot size of three thousand shares was required. As a result, retail investors had to put up a minimum of ₹120,000. A minimum lot size for HNI investments was two lots, or 6,000 shares, for a total of ₹240,000.
Travels & Rentals IPO: Objectives of the issue
The ₹12.24 crore Travels & Rentals IPO is a fixed price offering. The 30.6 lakh shares are being issued fresh.
The Proceeds of the IPO are expected to be used for meeting working Capital Requirement and General Corporate Expenses.
The Travels & Rentals IPO GMP that stood was at +15 on Friday has now risen to +22 , as per investorgain.com. This implies that Travels & Rentals' share price that was being offered for ₹ 14 higher in the grey market, now on Monday is being offers at a premium of ₹22.
Considering the issue price of the Travels & Rentals IPO as well as the current premium on the grey market, the estimated listing price of ₹62 per share is thus 55% more than the IPO price of ₹40.
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