SRIT India IPO GMP Surges 25.38% Issue Oversubscribed 19 Times on Day 3, Check Listing Estimate

The SRIT India IPO has received strong investor interest on the final day of bidding, with the issue getting 19.33 times subscription by noon on September 30th.

At the same time, the SRIT India IPO Grey Market Premium (GMP) has climbed to Rs. 33, indicating a potential listing gain of around 25.38% over the upper price band.

The SRIT India IPO opened for subscription on September 28th, and bidding will close on September 30. The IPO is proposed to be listed on both the NSE and BSE, with the tentative listing date scheduled for October 6th.

SRIT India IPO Subscription Status

The SRIT India IPO has received a strong response from investors on Day 3. So far on September 30, the issue was subscribed 19.33 times overall. The Retail investors subscribed 18.17 times. White the NII category was subscribed 47.71 times. The QIB (Ex Anchor): 0.09 times.

SRIT India IPO Details

SRIT India IPO is a book-built issue worth Rs. 218.40 crore. The issue comprises an entirely fresh issue of 1.68 crore shares, aggregating to Rs. 218.40 crore. The company has fixed the IPO price band at Rs. 123 to Rs. 130 per share.

For retail investors, the lot size has been fixed at 115 shares. At the upper price band of Rs. 130, an investor would need to invest Rs. 14,950 for one lot

SRIT India IPO GMP Today & Listing Estimate

The latest SRIT India IPO GMP is Rs. 33 per share, as recorded on September 30 at 10:37 AM. The IPO has a price band of Rs. 123 to Rs. 130 per share. Based on the upper price band of Rs. 130 and the current GMP of Rs. 33, the estimated listing price works out to around Rs. 163 per share which indicates a potential listing gain of approximately 25.38% over the IPO’s upper price band.

SRIT India IPO Allotment & Listing Date

The SRIT India IPO allotment is expected to be finalized on October 1st. Investors who receive an allotment can expect the shares to be credited to their demat accounts ahead of the listing. Those who do not receive an allotment will have their application funds released according to the applicable IPO process.

The tentative listing date for SRIT India shares is October 6th on both the NSE and BSE.