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Unlisted shares of Davin Sons Retail Ltd continue to trade at Rs 70 apiece in the grey market, which is a 27.27 per cent premium over the upper IPO price of Rs 55. It indicates a robust listing gain for investors on January 9.
Davin Sons Retail IPO.
Davin Sons IPO: The initial public offer (IPO) of Davin Sons Retail Ltd, which was opened for public subscription on Thursday, has so far received over four times subscription. The price of the Rs 8.78-crore BSE SME IPO has been fixed at Rs 55. Till 5:00 pm on the second day of bidding on Friday, the IPO got a 12.53 times subscription receiving bids for 1,89,96,000 shares against 15,16,001 shares on offer.
So far, the non-institutional investors (NII) category has received a 3.03 times subscription, while the quota for retail investors got subscribed by 22.03 times.
The IPO will be closed on Monday, January 6.
Davin Sons IPO GMP Today
According to market observers, unlisted shares of Davin Sons Retail Ltd continue to trade at Rs 70 apiece in the grey market, which is a 27.27 per cent premium over the upper IPO price of Rs 55. It indicates a robust listing gain for investors on January 9.
The GMP was zero in the morning.
Davin Sons Retail IPO: More Details
The Davin Sons IPO is entirely a fresh issue of 15.96 lakh shares. Its price has been fixed at Rs 55 per share.
The IPO bidding has been opened on January 2, 2025, and will close on January 6, 2025. The allotment for the Davin Sons IPO is expected to be finalised on Tuesday, January 7, 2025. It will list on BSE SME with tentative listing date fixed as Thursday, January 9, 2025.
For investors, the minimum lot size for an application is 2,000. The minimum amount of investment required by retail investors is Rs 1,10,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 2,20,000.
Navigant Corporate Advisors Ltd is the book running lead manager of the Davin Sons IPO, while Kfin Technologies Limited is the registrar for the issue.The market maker for Davin Sons IPO is Aftertrade Broking Pvt Ltd.
