NeoPolitan Pizza IPO Subscribed Nearly 9 Times So Far On Day Three; Check GMP Here
The grey market premium (GMP) of NeoPolitan Pizza and Foods IPO is Rs 0 as of 2:02 p.m. on October 3
The initial public offering of NeoPolitan Pizza and Foods Ltd. has been subscribed 8.61 times so far on Thursday, its third day of bidding. The IPO was subscribed 2.78 times on Tuesday and 0.83 times on Monday.
The Rs 12-crore fixed price offer consists of a fresh issue of 60 lakh shares of a face value of Rs 10 each. The IPO price has been fixed at Rs 20 apiece. Retail investors can bid for a minimum single lot size of 6,000 shares, aggregating to an investment of Rs 1,20,000.
On the other hand, High Networth Individuals can apply for 2 lots or 12,000 shares, which amounts to an investment of Rs 2,40,000.
The book-running lead manager for the issue is Turnaround Corporate Advisors Pvt. Bigshare Services Pvt. has been appointed as the registrar for the issue. NeoPolitan Pizza and Foods IPO market maker is MNM Stock Broking.
NeoPolitan Pizza IPO Day 3 Subscription Status
The IPO has been subscribed 8.61 times as of 3:31 p.m. on Thursday
Non-institutional Buyers: 1.68 times
Retail Investors: 15.53 times
NeoPolitan Pizza IPO GMP Today
The grey market premium (GMP) of NeoPolitan Pizza and Foods IPO is Rs 0 as of 2:02 p.m. on October 3, indicating a flat listing, according to Chittorgarh's unit Investorgain.
GMP is not an official price quote for the stock and is based on speculation.
NeoPolitan Pizza and Foods IPO share allotment status is likely to be decided on October 7. After the share allotment status is decided, shares will be credited into the Demat accounts of successful bidders and refunds will be initiated for unsuccessful bidders on October 8.
NeoPolitan Pizza and Foods' shares will be listed on the BSE SME platform. The tentative IPO listing date is October 9.
The company was incorporated in February 2011. It has two businesses. The company undertakes agricultural commodity trading and has a restaurant chain under the brand name 'Neopolitan Pizza'. The company's restaurant business is operated via its own restaurants and also through a franchise model.
The company plans to use the money raised via the public issue for the expansion of its retail network by launching 16 new Quick Service Restaurants. The company will also use the proceeds for paying its security deposit and advance rent. A portion of the proceeds will also be used for funding brokerage charges, working capital requirements, issue expenses and general corporate purposes.
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.
