Vdeal System Ltd share price lists with strong 52% premium at ₹170 on the NSE SME. The offer price of Vdeal System share price stood at ₹112.
Vdeal System share price thereafter rose further to ₹178.50
The investors had been expecting decent listing gains as was evident from subscription status and the Grey Market premium or the GMP.
The Vdeal System IPO had been subscribed 71.38 times. By August 29, 2024, the public issue had received 76.70 subscriptions in the retail category and 61.46 subscriptions in the other category.
According to investorgain.com, the Vdeal System IPO GMP increased from +20 on the day the IPO began to +30 by September 3. This suggests that Vdeal System was offering ₹ 30 extra for each share on the grey market.
The predicted listing price, at ₹142 per share, is thus 26.79% higher than the IPO price of ₹112 after taking into account the issue price of the Vdeal System IPO and the current premium on the grey market.
The Vdeal System IPO was a fixed price offering worth ₹18.08 crores. The IPO included fresh issue of 16.14 lakh shares.
Vdeal System's IPO price stood at ₹112 per share. A minimum lot size requirement for an application by retail investors stood at 200 shares. The minimum investment required from retail investors thereby was ₹134,400. A minimum of two lots (2,400 shares) of ₹268,800 was to invested by HNIs.
Founded in December 2009, Vdeal System Limited offers integrated electrical and automation solutions.
The company intends to use the proceeds from the offering to achieve the following objectives:
In order to meet the working capital requirements
Repayment of all or a portion of the business loans, both secured and unsecured.
For general corporate purposes and to cover the issue costs.
The registrant of the Vdeal System IPO is Cameo Corporate Services Limited, while the book running lead manager is Affinity Global Capital Market Private Limited. Black Fox Financial is the market maker for the Vdeal System IPO.
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