The initial public offering (IPO) of marketing and advertising company Graphisads Limited opened for subscription on November 30. Graphisads IPO was fully subscribed on the second day. Graphisades IPO is an SME IPO and a fixed-price issue that will be open for subscription till Tuesday, December 5.
Graphisads IPO Subscription Status
The Graphisades IPO was subscribed 1.10 times on Friday, the second day of the bidding process. The IPO received bids for 50.48 lakh equity shares compared to 45.69 lakh shares so far. The issue has been subscribed 1.27 times in the retail category and 0.94 times in the other category.
Graphisades IPO GMP
According to market experts, the GMP or gray market premium of the Graphisades IPO on November 30 was Rs 0.
This means that Graphisad IPO shares were not trading at any premium or discount to the issue price in the gray market.
Graphisades plans to raise Rs 53.41 crore from IPO
The Graphisades IPO opened for subscription on November 30 and will close on December 5. The IPO allotment is expected to be finalized on December 8, while the company’s shares may be listed on NSE SME with the tentative listing date fixed at December 13, 2023.
Graphisades Ltd plans to raise Rs 53.41 crore from the first public offering which is a fresh issue of entirely 48.12 lakh shares. The price band of Graphisades IPO has been set at Rs 111 per share. The IPO lot size is 1,200 shares and the minimum investment amount required for retail investors is Rs 1,33,200.
The company intends to use the fresh IPO proceeds to repay certain borrowings, meet working capital requirements and general corporate expenses. First Overseas Capital Ltd. is the book running lead manager of the Graphixads IPO, while Kfin Technologies is the IPO registrar.
Graphisades does marketing and advertising work
Graphisades Limited is an integrated marketing, advertising and communication agency, providing 360 degree solutions to its wide range of clients. The company provides advertising services on work orders received by government sector, private sector and public sector entities.