Zenith Drugs IPO Day 3: Check Subscription Status, GMP Today
Zenith Drugs IPO Day 3: Check Subscription Status, GMP Today
Unlisted shares of Zenith Drugs Ltd are trading Rs 17 higher in the grey market, expecting 21.52 per cent listing gain from the public issue

Zenith Drugs IPO: The initial public offering of pharma company Zenith Drugs Ltd, which was opened for public subscription on Monday, February 19, is receiving a positive response from investors. Till 11:02 am on the third day of bidding on Wednesday, the Rs 40.68-crore SME IPO received 7.59 times subscription, garnering bids for 2,28,32,000 shares as against 30,08,000 shares on offer.

The IPO will be closed on Thursday, February 22.

The retail category has received 11.79 times subscription and the non-institutional quota got 3.20 times subscription. The qualified institutional buyer (QIB) category has received 3.53 times subscription.

The allotment of Zenith Drugs IPO will take place on February 23, while its listing will take place on the NSE SME on February 27, 2024.

Zenith Drugs IPO GMP Today

According to market observers, unlisted shares of Zenith Drugs Ltd are trading Rs 17 higher in the grey market as compared with its issue price. The Rs 17 grey market premium or GMP means the grey market is expecting a 21.52 per cent 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.

Zenith Drugs IPO Details

The Zenith Drugs IPO is entirely a fresh issue of 51.49 lakh shares. The price band of the IPO has been fixed at Rs 75 to Rs 79 per share.

The minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,26,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,52,800.

Gretex Corporate Services Limited is the book-running lead manager of the Zenith Drugs IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Zenith Drugs IPO is Gretex Share Broking.

What's your reaction?

Comments

https://tupko.com/assets/images/user-avatar-s.jpg

0 comment

Write the first comment for this!