Polysilicon Irrigation Systems IPO: Polysil Irrigation Systems Ltd’s initial public offering opened on Thursday, February 8, with the third day of bidding taking place on Thursday. As of 11:46 a.m. on the third day of bidding on Monday, the IPO had received a total of 3.17 times subscriptions, with the bidding number being 96,98,000 shares and the offering number being 30,64,000 shares.
The Rs 1,744-crore SME IPO will close on Tuesday, February 13.
The retail quota subscription was 5.68 times, and the non-institutional quota subscription was 0.64 times.
The Polysil Irrigation Systems IPO rights issue will take place on February 14 and its listing will take place on NSE SME on February 16, 2024.
Polysil Irrigation Systems IPO Today’s GMP
Unlisted shares of Polysil Irrigation Systems Ltd are trading at a zero premium on the gray market, according to market observers. Zero Gray Market Premium or GMP means Gray Market is not expected to receive listing proceeds from the public offering. 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.
Polysil Irrigation Systems IPO Details
The Polysil Irrigation Systems IPO includes fresh issue of 14.44 million shares (total value of Rs 780 crore) and sale of 1785 thousand shares (total value of Rs 964 crore).
The price band for the Polysil Irrigation Systems IPO has been fixed at Rs 54 per share. The minimum lot size requested is 2,000 shares. The minimum investment amount required for retail investors is Rs 1,08,000. The minimum investment lot size for HNI is 2 lots (4,000 shares) and the amount is Rs. 2,16,000.
Fedex Securities Pvt Ltd is the lead bookkeeping manager for the Polysil Irrigation Systems IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for the Polysil Irrigation Systems IPO is Market-Hub Stock Broking.
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