Innovatus Entertainment IPO: GMP, subscription status, and other details
Innovatus Entertainment Networks IPO has set the price band at ₹50 per equity share and the share will be listed on the BSE SME exchange Friday, 4 August.
The Innovatus Entertainment IPO has a total issue size of ₹774.00 lakh, which consists of freshly issued equity shares. The company plans to use the net proceeds from the offering to finance several objectives, including meeting extra working capital needs, buying exhibition-related merchandise, and basic business needs.
The Innovatus Entertainment SME IPO share allotment will take place on Tuesday, 1 August. Those allotted shares will get them in their Demat accounts on Thursday, 3 August. The refund process for those who did not get shares will begin on Wednesday, 2 August.
Innovatus Entertainment Networks was founded in 2012, provides various types of direct marketing services, including management, CRM, B2B and B2C, activations, and exhibitions.
The company provides services like Event Management, Activations, and Exhibitions, as well as services like Event Coordination, Pre and Post event Publicity, Production, Printing and Distribution, Venue Research and Booking, Staffing, Guest Speakers, Celebrity Management, Transport, Accommodation and Catering, Translators, On-site management, Most advanced technical support, and School/College activation.
Innovatus Entertainment Networks IPO Subscription Status:
The SME initial public offering (IPO) of Innovatus Entertainment Networks Ltd was subscribed 34.63 times on day 2. The issue received positive response from retail investors who’s portion set was subscribed 50.48 times, followed by non-institutional buyers who’s portion set was subscribed 15.66 times, according to data on chittorgarh.com.
The company has received bids for 5,09,01,000 shares against 1,548,000 shares on offer, according to data on chittorgarh.com.
Innovatus Entertainment IPO: GMP, subscription status on day 1, and other key details here
Innovatus Entertainment Networks IPO GMP details:
The Innovatus Entertainment Networks GMP or grey market premium is +15. This indicates that the shares of Innovatus Entertainment Networks were trading at a premium of ₹15 in the grey market on Wednesday, according to topsharebrokers.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Innovatus Entertainment Networks share is ₹65 apiece, which is 30% higher than the IPO price.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Updated: 26 Jul 2023, 07:40 PM IST
