This IPO breaks all subscription records, bumper profit in gray market!

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Nephro Care SME IPO: The initial public offering (IPO) of Nephro Care India, a company belonging to the pharma sector, has closed. The IPO, which opened for subscription on June 28, has closed today i.e. July 2. The IPO has received an unprecedented response from investors. Till the last day, this IPO was subscribed 715.85 times.

Bids over 20,000 crores

The IPO was launched on the NSE Emerge platform at Rs. Bids of more than 20,000 crores have been received. This is a new record on the NSE Emerge platform. The reserved quota for qualified institutional buyers (QIBs) was subscribed 245.14 times. Whereas, the HNI quota was subscribed 1,787.56 times. The Retail Individual Investor (RII) quota was subscribed 634.12 times.

IPO details

Let us tell you that the price band of the IPO was fixed at Rs 85-90 per equity share with a face value of Rs 10. As for the gray market premium, it is Rs. is 165. Accordingly, listing of the IPO at Rs. 255 is expected to happen. This represents a premium of 183% over the IPO.

Fresh issue not included

The IPO involves a fresh issue of 45.84 lakh equity shares. The minimum lot size for application was 1,600 equity shares. The company is proposed to be listed on NSE Emerge. Corporate Capital Ventures is the sole book running lead manager and Bigshare Services Pvt Ltd is the registrar for the offer.

What will happen to the money?

The company received from IPO Rs. 26.17 crores proceeds to be used to set up a multi-specialty healthcare facility, ‘Vivecity Multi Specialty Hospital’ in Madhyagram, Kolkata, West Bengal and the company plans to use the rest of the capital for general corporate. To do for a purpose. The new hospital will be a unit of Nephro Care India and is proposed to have 100 inpatient beds.

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