Sahaj Fashions IPO opened for subscription on Friday, August 25, and will close today (Tuesday, August 29). Sahaj Fashions IPO price band has been set at ₹30 per equity share and the Sahaj Fashions IPO shares will get listed on Wednesday, September 6 on NSE SME.
Sahaj Fashions is a small-to-medium enterprise (SME) company that manufactures fabric for garment making, home furnishings, and industrial applications.
Sahaj Fashions IPO details
Sahaj Fashions IPO is a fixed price issue and the total issue size is ₹13.96 crore. The IPO comprises a fresh issue of 4,476,000 shares at ₹30 per share.
The company intends to utilise the net proceeds from the issue towards the funding of working capital requirements including margin money, prepayment/repayment of certain secured borrowings availed by the company, and for general corporate purposes.
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Rohit Toshniwal, Sadhana Toshniwal, Norat Mal Choudhary, Prabha Lakhotia, Rakesh Choudhary, Mukul Lakhotia, and Nitin Toshniwal are the company’s promoters.
Sahaj Fashion IPO allotment is expected to be finalised on September 1, and the company will initiate refunds on September 4. The shares are likely to be credited to the demat account of allottees on September 5.
Bigshare Services Pvt Ltd is the IPO registrar and Khambatta Securities Limited is the IPO lead manager.
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Sahaj Fashions IPO subscription status was 7.66 times on day 3 so far. The issue received decent response from retail investors who’s portion set was subscribed 11.54 times, and non-institutional buyers who’s portion set was subscribed 3.77 times, according to data on chittorgarh.com.
The company has received bids for 3,38,12,000 shares against 4,652,000 shares on offer, at 16:19 IST, according to data on chittorgarh.com.
On day 1, Sahaj Fashions IPO subscription status was 1.13 times and on day 2 the issue was subscribed 3.63 times.
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Sahaj Fashions IPO GMP today
Sahaj Fashions IPO GMP today or or grey market premium on Tuesday was +1 similar the previous trading session. This indicates Sahaj Fashions share price were trading at a premium of ₹1 in the grey market on Tuesday, 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 Sahaj Fashions share price is apiece, which ₹31 is 3.33% higher than the IPO price of ₹30.
On Sunday, Sahaj Fashions IPO GMP was ₹4. According to topsharebrokers.com, today IPO GMP trending downward and expects a tepid listing. The lowest GMP is ₹0, while the highest GMP is ₹5.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Updated: 29 Aug 2023, 04:35 PM IST