by IPO News Updates: Investors are going to get a chance to bet on the IPO again. Pharma company Medicman Organics’ IPO is going to open on June 21. The company is trying to raise Rs 10 crore through an IPO. Let us tell you that the price band of Medicman Organics IPO is also known. The price of which is less than 50 rupees.
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What is a price band?
Medicman Organics IPO size Rs. 10.54 crores. The company has fixed a price band of Rs 32 to Rs 34 for the IPO. The company will issue 31 lakh new issues through IPO. A lot of 4000 shares have been created for this IPO. That means retail investors need to invest at least Rs. 1,36,000 has to be bet.
How long will the IPO be open?
The IPO will open on June 21. Retail investors will have an opportunity to place bets till June 25. Allotment of shares by Medicman Organics will be done on June 26. At the same time, the listing of the company on BSE and NSE will take place on June 28. The company will be listed on NSE.
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The company’s quarterly balance sheet is strong
The net profit of Medicman Organics during the financial year 2023 has been Rs 95.78 lakhs. While the total income during this period was Rs. 22.96 crore has been. Let us tell you that compared to the financial year 2022, the net profit and revenue of the company has increased tremendously. Let us tell you that then the net profit was 9.23 lakh rupees and the income was 21.18 crore rupees.
What is GMP?
The company is trading at a premium of Rs 50 in the gray market. A GMP higher than the price band before the IPO opens is considered a positive sign. If the situation remains unchanged till the listing of the company, the IPO in the stock markets will cost Rs. May debut in 84. If this happens, investors can get a profit of 147 percent on the first day itself.
