Innovatus Entertainment Networks IPO: What does GMP signal post allotment?
Innovatus Entertainment Networks IPO share allotment was finalised on Tuesday, August 1. For those individuals who were not allotted shares, the initiation of refund process was held on Wednesday, August 2. Those individuals who have been allotted Innovatus Entertainment IPO shares, will receive in their demat accounts on Thursday, August 3.
Innovatus Entertainment IPO shares will get listed on the BSE SME on Friday, August 4. Innovatus Entertainment Networks IPO has set the IPO’s price band at ₹50 per equity share. The public issue opened on Tuesday, July 25 and closed on Thursday, July 27.
Innovatus Entertainment Networks IPO subscription status was 105.21 times on day 3. The issue received positive response from retail investors who’s portion set was subscribed 150.50 times, followed by non-institutional buyers who’s portion set was subscribed 56.58 times, according to data on chittorgarh.com.
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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.
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.
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Innovatus Entertainment IPO GMP today
The Innovatus Entertainment IPO GMP or grey market premium is +7. This indicates that the shares of Innovatus Entertainment Networks were trading at a premium of ₹7 in the grey market on Thursday, 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 ₹57 apiece, which is 14% higher than the IPO price.
However, today’s grey market premium was the lowest at ₹7 in the last 13 sessions, while the highest GMP was recorded on at ₹14. On Wednesday’s Innovatus Entertainment Networks share were trading at a premium of ₹12.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Updated: 03 Aug 2023, 03:00 PM IST
