Holmarc Opto-Mechatronics Limited, a manufacturer of scientific and engineering instruments, saw its shares list at a premium on the NSE SME on Monday. The company's share price debuted at ₹65.25 per share, marking a 63.13% increase from the issue price of ₹40. Subsequently, the shares were locked at a 5% upper circuit, closing at ₹68.50 apiece on Monday.
The company's initial public offering (IPO) opened for subscription on September 15 and closed on September 20. The IPO saw high investor interest with the subscription period ending successfully. The fresh issue size for the IPO was 2,850,000 shares, aggregating up to ₹11.40 crores ($1.54 million), with a face value of ₹10 per share and a fixed price band of ₹40 per share.
The allotment process for the IPO was anticipated to be completed today, with the basis of allotment set as September 25. Following this process, refunds are expected to begin on September 26, and credit of shares to Demat accounts is slated for September 27.
The grey market premium (GMP) for Holmarc Opto-Mechatronics' IPO remained consistent at +27 for the previous two trading sessions. This indicated that the shares were trading at a premium of ₹27 in the grey market on Monday. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Holmarc Opto-Mechatronics' shares was ₹67 apiece, which was 67.5% higher than the IPO price of ₹40.
The tentative listing date for Holmarc Opto-Mechatronics Limited was set for Thursday, September 28. The company is set to list its shares on the NSE SME following the completion of the allotment process.
Finshore Management Services acted as the book running lead manager of the Holmarc Opto-Mechatronics IPO, while Cameo Corporate Services served as the IPO registrar. The minimum lot size for the Holmarc IPO was 3,000 shares, requiring a minimum investment amount of ₹120,000 by retail investors.
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