Shivalik Power Systems IPO Sees Overwhelming Demand on Opening Day: Apply or Not? The initial public offering (IPO) of Shivalik Power Systems has seen an overwhelming response just hours after opening for subscription on Monday. The company aims to raise ₹64.32 crore through the NSE Emerge platform.
IPO Details
- Opening Date: June 24, 2024
- Closing Date: June 26, 2024
- Issue Size: 64,32,000 equity shares
- Face Value: ₹10 per share
- Issue Price: ₹95-₹100 per share
- Minimum Lot Size: 1,200 shares
Subscription Status
As of 10:46 am on the opening day, the IPO has been subscribed 8.44 times. According to NSE data:
- Non-Institutional Investors (NIIs): Bid for 4,59,600 shares
- Retail Individual Investors (RIIs): Bid for 38,96,400 shares
- Total Bids: 43,56,000 equity shares
Management and Registrar
- Book Running Lead Manager: Corporate Capital Ventures Pvt Ltd
- Registrar: Skyline Financial Services Pvt Ltd
Company Overview
Shivalik Power Systems is a manufacturer of electric panels known for qualitative and dependable equipment supply in the power industry. The high response for their IPO testifies to the confidence of the investors in the development potential of the company and its market position.
With the IPO closing on June 26, 2024, how this subscription process is going to pan out is being watched by investors with bated breath. The completion of this IPO could turn out to be an event of immense importance to Shivalik Power Systems for boosting its market presence and operating skills.
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