Polysil Irrigation Systems IPO: The initial public offering of Polysil Irrigation Systems Ltd, which was opened on Thursday, February 8, is witnessing the third day of bidding on Thursday. Till 4:30 pm on the third day of bidding on Monday, the IPO received 4.02 times subscription, garnering bids for 1,23,08,000 shares as against 30,64,000 shares on offer.
The Rs 17.44-crore SME IPO will be closed on Tuesday, February 13.
The retail category has received 5.68 times subscription and the non-institutional quota got 0.64 times subscription.
The allotment of Polysil Irrigation Systems IPO will take place on February 14, while its listing will take place on the NSE SME on February 16, 2024.
Polysil Irrigation Systems IPO GMP Today
According to market observers, unlisted shares of Polysil Irrigation Systems Ltd are trading with zero premium in the grey market. The zero grey market premium or GMP means the grey market is expecting no listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Polysil Irrigation Systems IPO Details
The Polysil Irrigation Systems IPO is a combination of a fresh issue of 14.44 lakh shares aggregating to Rs 7.80 crores and an offer for sale of 17.85 lakh shares aggregating to Rs 9.64 crore.
The price band of the Polysil Irrigation Systems IPO has been fixed at Rs 54 per share. The minimum lot size for an application is 2,000 shares. The minimum amount of investment required by retail investors is Rs 1,08,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 2,16,000.
Fedex Securities Pvt Ltd is the book running lead manager of the Polysil Irrigation Systems IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Polysil Irrigation Systems IPO is Market-Hub Stock Broking.
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