Italian food IPO: Italian Edibles Ltd’s IPO opened for public subscription on January 2 and has received a good response from investors so far. As of 10:42 a.m. on the third day of bidding on Tuesday, the IPO had been subscribed 19.33 times, with 719.2 million shares bid for and 3,720,000 shares being offered.
The SME IPOs worth Rs 2,666 crore will continue till Wednesday, February 7.
So far, the retail quota has been subscribed 32.39 times, and the non-institutional investor (NII) quota has been subscribed 6.26 times.
The Italian Edibles IPO rights issue will take place on February 8 and its listing will be on NSE SME on February 12, 2024.
Italian Food IPO GMP Today
According to market observers, the unlisted shares of Italian Edibles Ltd are trading in the gray market at a premium of Rs 20 above its issue price. The gray market premium or GMP of Rs 20 means that Gray Market expects the listing gain on the public issue to be 29.41%. GMPs are based on market sentiment and are constantly changing.
The “grey market premium” indicates that investors are willing to pay more than the issue price.
Italian Foods IPO Details
Italian Edibles’ IPO consists of 3.92 million new shares issued entirely. The IPO price of Italian Edibles has been set at Rs 68 per share.
The minimum lot size requested is 2,000 shares. The minimum investment amount required for retail investors is Rs 1,36,000. The minimum investment lot size for HNI is 2 lots (4,000 shares) and the amount is Rs. 2,72,000.
First Overseas Capital Limited is the lead bookkeeping manager for the Italian Edibles IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for the Italian Edibles IPO is Nikunj Stock Brokers.
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