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People have bet heavily on the IPO of Chavda Infra, a company involved in the construction business. Chavda Infra’s IPO has been subscribed 180 times. The gray market is also bullish on Chavda Infra’s IPO. In a company’s IPO, investors’ money can double on the first day. Chavda Infra shares are trading at a premium of over 90 percent in the gray market. The company’s IPO was opened on September 12 and its subscription remained open till September 14.
Shares may list around Rs 125
Price band of Chavda Infra IPO is Rs. 60-65 is. At the same time, the company’s shares are trading at a premium of Rs 60 in the gray market. If shares of Chavda Infra Rs. 65 to be allotted at the upper price band and Rs. 60 if the gray market premium (GMP) remains, the company’s shares will be Rs. Around 125 can be listed. That means, investors’ money can be doubled on the day of listing itself. Allotment of the company’s shares in the IPO may be finalized on September 20. At the same time, shares of Chavda Infra may be listed on the exchange on September 25.
Also Read- Gray market buzzes ahead of IPO opening, opportunity from September 25
The company’s IPO has been subscribed 180 times
Chavda Infra’s IPO has been subscribed a total of 180.06 times. The retail quota of the company’s IPO has been subscribed 202.07 times. At the same time, 95.10 times the quota of qualified institutional buyers was subscribed in the IPO. While the quota of non-institutional investors has been subscribed 241.96 times. Retail investors can bid for 1 lot in a company’s IPO. 1 lot of IPO has 2000 shares. That is, investors have to invest at least Rs. 1.30 lakh has to be invested.
Also Read – Shares rise 543%, now company is giving 15 bonus shares, record date set
Disclaimer: Information about stock performance is provided here only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.