Share Samadhan IPO Subscribed 14.59 Times On Day Three

The initial public offering of Share Samadhan Ltd. was subscribed nearly 15 times on the third and final day of subscription. The IPO was subscribed 3.55 times on Tuesday, and 1.18 times on the first day of bidding on Monday, led by demand from retail investors.

The SME IPO, a fresh issue of 32.51 lakh shares, aimed to raise Rs 24.06 crores. The price band was fixed between Rs 70 and Rs 74 per share.

Retail investors were required to apply for a minimum of 1,600 shares, which translated to an investment of Rs 1,18,400. High-net-worth individuals needed to apply for a minimum of 3,200 shares, amounting to Rs 2,36,800.

Ahead of the public offering, Share Samadhan Limited successfully raised Rs 6.83 crore from anchor investors, as per Chittorgarh.

The allotment of shares is expected to be finalised on September 12. The shares will be listed on the BSE SME platform, with the tentative listing date scheduled for September 16.

The issue is managed by Narnolia Financial Services Ltd. as the book-running lead manager, with Skyline Financial Services Pvt. Ltd. as the registrar. Nikunj Stock Brokers is as the market maker for the IPO.

The IPO was subscribed 14.59 times as of 6:19 p.m. on Wednesday.

• Qualified institutional buyers: 2.66 times.

• Non-institutional investors: 22.44 times.

• Retail investors: 18.04 times.

The grey market premium of Share Samadhan is Rs 0 as of 7:23 p.m., implying no gains over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 74 per share.

GMP is not an official price quote for the stock and is based on speculation. 

Share Samadhan Ltd., formerly known as Tiger Island Hospitality Private Ltd., was established in 2011. The company provides a range of services designed to help clients recover and protect their financial assets.

Its core business lines include offering advisory services to resolve issues and unlock value from various financial assets, including equities, preference shares, mutual funds, debentures, bonds, insurance, provident funds, deposits, bank accounts, debt, and other asset classes.

The funds raised from the IPO will be allocated for investment in technology, and enhancing technological infrastructure to improve service delivery and operational efficiency.

Funds will also be allocated towards unidentified acquisitions, pursuing potential acquisition opportunities both within India and abroad.

The funds raised from the IPO will also be utilised to support the company's ongoing operational needs, cover various corporate expenses, and meet the costs associated with the IPO process.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.