Sampat Aluminium IPO commenced on Wednesday, September 17 and will conclude on Friday, September 19. Sampat Aluminium IPO price band has been set at ₹ 114 to ₹ 120 equity share, each with a face value of ₹ 10. Investors can place bids for a minimum of 1,200 equity shares and in multiples of 1,200 shares thereafter.
Sampat Aluminium Limited specializes in the production of aluminium wire rods within India.
The business manufactures long aluminium products, such as wires and rods, utilizing aluminium ingots, rods, wires, and recycled scrap through the ‘Properzi process’ for continuous casting and hot-rolling.
The manufacturer produces aluminium wires and rods, which are crucial for electrical distribution, transformers, and industrial applications, owing to the lightweight, corrosion-resistant, conductive, and cost-effective nature of aluminium.
The company’s facility in Kalol, Gujarat has a capacity of 8,400 MTPA and includes areas for design, casting, machining, and quality assurance, featuring in-house testing for both materials and finished products.
Sampat Aluminium IPO subscription status
Sampat Aluminium IPO subscription status is 7.82 times on day 2 so far, as per chittorgarh.com. The retail portion was subscribed 10.19 times, and NII portion was booked 11.49 times. The qualified institutional buyers portion has received 90% bids.
The company has received bids for 1,30,32,000 shares against 16,66,800 shares on offer on the second bidding day, at 14:24 IST, according to data on chittorgarh.com.
Sampat Aluminium IPO details
The company aims to raise ₹30.53 crore through an initial public offering (IPO) of 25.44 lakh shares. Sampat Aluminium has already collected ₹8.51 crore by issuing 7.09 lakh shares to anchor investors on September 16, one day prior to the public offering’s opening.
The manufacturer of aluminium long products, such as wires and rods, intends to utilize ₹23.3 crore of the IPO funds to establish a new manufacturing facility in Mehsana, Gujarat, while the remaining amount will be allocated for general corporate purposes.
At present, it operates a manufacturing plant in Kalol, Gujarat, with a capacity of 8,400 MTPA.
Marwadi Chandarana Intermediaries Brokers is serving as the sole merchant banker for the Sampat Aluminium IPO.
Sampat Aluminium IPO GMP today
Sampat Aluminium IPO GMP today, or grey market premium, is ₹21. This indicates Sampat Aluminium share price is trading at a premium of ₹21 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sampat Aluminium IPO is indicated at ₹141 apiece, which is 17.50% higher than the issue price of ₹120.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.