This IPO created a buzz even before opening, prices rocketed in the grey market, investors can get 30% profit
Sachirom’s IPO will open for subscription on June 9. Investors will have the opportunity to invest in it till June 11. This IPO has created a stir in the gray market even before its opening. It is trading at a premium of Rs 30 in the gray market. In simple words, investors can make a profit of Rs 30 (about 30 per cent) on each share on listing. However, the situation in the gray market keeps changing constantly. According to market experts, investment decisions should be taken according to the business health of the company rather than the signals received from the gray market.
This IPO is a completely fresh issue of 60.41 lakh shares. Through this IPO, the company has planned to raise Rs 61.62 crore. The price band for this IPO has been fixed at Rs 96 to Rs 102 per share. The minimum lot size for retail investors has been kept at 1200 shares i.e. they will have to invest at least Rs 1,15,200. However, if you invest at the cut-off price (Rs 102 per share), the minimum amount becomes Rs 1,22,400.
Listing may happen on June 14
Share allotment will be finalized on June 12. Shares will be credited to the demat account on June 13. The company’s shares may be listed on NSE SME on June 14. This company specializes in the design and manufacturing of fragrances and flavors.
