Constelc Engineers IPO Day 2: Check subscription status, GMP today

Constelc Engineers IPO: The initial public offering of Constelac Engineers Limited, which was opened for public subscription on Friday, January 19, has received an excellent response from investors. As of 3:06 pm on the second day of bidding on Tuesday, January 23, the Rs 28.7 crore SME IPO was subscribed 112.01 times, drawing bids for 30,55,58,000 shares against 27,28,000 shares.

The IPO will close on Wednesday, January 24. The share allotment of Constelac Engineers IPO will take place on January 25, while its listing date is January 30.

Constelc Engineers IPO GMP today

According to market observers, unlisted shares of Constelac Engineers Ltd are trading at Rs 57 higher in the gray market than its issue price. The gray market premium or GMP of Rs 57 means the gray market is expecting 81.43 per cent listing profit from the public issue. GMP is based on market sentiments and keeps changing.

The ‘grey market premium’ refers to the willingness of investors to pay more than the issue price.

Constelc Engineers IPO Details

Constelc Engineers IPO is a Rs 28.70 crore IPO and is a fresh issue of entirely 41 lakh shares.

The price band of Constelc Engineers IPO has been fixed at Rs 66 to Rs 70 per share. The minimum lot size for an application is 2,000 shares. The minimum investment amount required for retail investors is Rs 1,40,000. The minimum lot size investment for HNIs is 2 lots (4,000 shares), amounting to Rs 2,80,000.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Constelc Engineers IPO, while Skyline Financial Services Pvt Ltd is the registrar to the issue. The market maker for the Constelc Engineers IPO is Spread X Securities.