 draws to a close today, the subscription levels have exceeded expectations, signaling strong investor confidence in the company.){kind=link}
As Anya Polytech & Fertilizers Limited’s Initial Public Offering (IPO) draws to a close today, the subscription levels have exceeded expectations, signaling strong investor confidence in the company.
The IPO, which opened on December 26, 2024, is set to close on December 30, 2024, and has already garnered significant attention, with strong bidding from both retail and institutional investors.
IPO Subscription Hits Over 28 Times
The IPO, offering shares in the price range of ₹13 to ₹14 per share, has seen enthusiastic participation from various investor categories. On the final day of the subscription window, the IPO has been oversubscribed nearly 28.61 times, with total bids crossing over 60.9 million shares compared to the 2.13 million shares on offer.
- Qualified Institutional Buyers (QIBs) have subscribed 2.91 times, bidding for 1.77 million shares out of the 0.60 million shares reserved for them.
- Non-Institutional Investors (NIIs) have demonstrated particularly strong interest, oversubscribing by an impressive 18.30 times with bids for 8.36 million shares, far exceeding their quota of 0.46 million shares.
- Retail Individual Investors (RIIs) have led the charge, subscribing a staggering 47.71 times their allocated share portion, bidding for over 50.8 million shares compared to their quota of 1.06 million shares.
This level of demand suggests that investors are optimistic about the company’s future prospects, driven by its growth potential and the promise of an affordable share price.
Grey Market Premium (GMP) Indicates Positive Sentiment
As of the latest reports, Anya Polytech’s IPO is also trading at a 21% Grey Market Premium (GMP), a positive indicator of investor confidence. The GMP suggests that the shares are expected to list at a price higher than the issue price once they make their debut on the stock exchange.
Offering Details
The IPO aims to raise a total of ₹44.80 crore, which will help the company strengthen its operations and fund future expansion plans. The company is focusing on capitalizing on its presence in the polytech and fertilizers sectors, with a growing demand for its products.
The shares are expected to be listed on the NSE Emerge platform on January 2, 2025, marking an important milestone for the company as it transitions to a publicly listed entity.
What’s Next?
With just a few hours left for the IPO subscription to close, market watchers are keenly awaiting the final subscription figures. Investors who are still interested in subscribing to the IPO must act quickly as the offer closes by the end of today.
As the subscription process concludes, all eyes will be on the allotment process, which is expected to be finalized by December 31, 2024. Investors can expect to know whether they’ve been allocated shares and begin to prepare for the stock’s listing on January 2.
This IPO marks a significant moment for Anya Polytech & Fertilizers Limited, as it seeks to expand its footprint in the growing fertilizer and agriculture sector, poised for long-term growth in both domestic and international markets.
Investors looking to participate in this exciting journey are encouraged to stay informed as the final steps unfold.
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