Sealmatic India IPO: Sealmatic India’s Initial Public Offer (IPO) has received a 45% subscription from the first day. Sealmatic India has launched through the SME route of the Bombay Stock Exchange. The listing of the company will also happen on the SME platform of BSE. The company has fixed a price band of Rs 220 to 225 for its IPO. Bidding for the IPO has started today, February 17, and February 21 is its last date. The IPO received a good response from retail investors on the first day. However, the response to the IPO has been lukewarm so far from Institutional and Non-Institutional Investors (NII).
According to the data available on BSE, Qualified Institution Buyers (QIB) and Non-Institutional Investors (NII) did not place any bids for the IPO on the first day. However, retail investors have taken their share to around 87% of the reserved shares.
Explain that Sealmatic India has reserved about 40% of its IPO for Qualified Institution Buyers (QIB). And 18% is reserved for Non-Institutional Investors (NII). While the remaining 42% is kept aside for retail investors.
Retail investors will have to invest 1.35 lakh
The lot size for the Sealmatic India IPO will be 600 shares. Retail investors are allowed to bid for a minimum and maximum of 1 lot. At the upper price band of Rs 225, a retail investor would have to invest around Rs 1.35 lakh to bid for one lot.
According to the information, Sealmatic India is preparing to raise around Rs 56.24 crore from its IPO. This also includes offer-for-sale (OFS) of about Rs 14.2 crore.
Read also this … Sealmatic India Limited IPO Date, Subscription, Review & Details
What is the business of the company?
Sealmatic India Limited started its business. The company is engaged in the business of designing and manufacturing Mechanical Seals and allied products. The company’s mechanical seals are mainly used in pulp and paper, oil and gas, refinery, petrochemical, chemical, fertilizer, power, mining, aerospace, marine, pharma, and other industrial fields.
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