Biopol Chemicals IPO, which opened for subscription on Friday, February 6, has so far been subscribed 18.77 times on Tuesday. The SME IPO will close for bidding on Tuesday, February 10.
Biopol Chemicals is engaged in the trading, manufacturing, and distribution of specialty chemicals across segments such as silicones, emulsifiers, biochemicals, and polyelectrolytes.
Biopol Chemicals IPO subscription status
By 3:40 pm on Tuesday, the Biopol Chemicals IPO has so far been subscribed 18.77 times, as per data available on NSE. The SME IPO has received 5,43,33,600 bids against the 28,94,400 bids offered, on the third day of subscription.
The Non-Institutional Investors category has received 2,59,16,400 bids; meanwhile, the individual investors portion has received 1,72,03,200 bids. QIB section remains unsubscribed on the last day of bidding.
Biopol Chemicals IPO GMP today
The shares of Biopol Chemicals IPO are trading at a premium of ₹3 in the gray market, as per websites tracking the gray market. This means that the GMP of Biopol Chemicals IPO is +3, according to Investorgain.
The estimated listing price of the Biopol Chemicals IPO is likely to be ₹111, which is 2.78% higher than the IPO price of ₹108.
Biopol Chemicals IPO details
Biopol Chemicals IPO opened for subscription on Friday, February 6, and will close on Tuesday, February 10.
The NSE SME IPO is a book-built issue comprising 28,94,400 equity shares, with no offer for sale (OFS) component. The price band for the issue has been set at ₹102- ₹108 per share.
As per the Red Herring Prospectus (RHP), the company intends to utilize the net proceeds towards the purchase of industrial land, repayment or prepayment of certain outstanding borrowings, and for general corporate purposes.
A significant portion of the issue has been reserved for Non-Institutional Investors (NIIs), who have been allotted 10,94,400 shares, accounting for 37.81% of the net issue. Retail individual investors have been allocated 9,62,400 shares (33.25%), while Qualified Institutional Buyers (QIBs) have been offered 6,86,400 shares, representing 23.71%.
The basis of allotment is likely to be finalized on Wednesday, February 11. Successful applicants can expect the shares to be credited to their demat accounts on Thursday, February 12, while refunds for unsuccessful bidders are also expected to be processed on the same day.
Smart Horizon Capital Advisors Private Limited is acting as the book-running lead manager, while Bigshare Services Private Limited has been appointed as the registrar to the Biopol Chemicals IPO.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
