Sunita Tools shares list at 6.9% premium at ₹155 on BSE SME
Sunita Tools Limited shares made a decent debut on BSE SME today. On BSE, Sunita Tools Limited share price today was listed at ₹155 per share, 6.9% higher than the issue price of ₹145.
Sunita Tools public issue was offered at a fixed price of ₹145 per equity share of face value of ₹10 each. Sunita Tools Limited lot size stood at 1000 equity shares and in multiples of 1000 equity shares thereafter. The issue price was 14.5 times the face value of the equity shares. Sunita Tools Limited opened for subscription on Tuesday, September 26, and closed on Tuesday, October 3rd .
Sunita Tools Limited issues size was worth ₹22.4 crores and was towards Fresh Issue of 13,20,000 Equity Shares aggregating ₹19.14 crore and Offer for Sale (OFS) of 2,00,000 Equity Shares aggregating ₹2.9 Crore for sale (OFS) component. The promoter of the company included Sangeeta Pandey, Sanjay Kumar Pandey, Satish Kumar Pandey and Ragini Pandey.
Also Read – IRM Energy IPO opens on October 18, price band set at ₹480-505 per share
The company plans to use the net proceeds from the offering to meet working capital requirements and to fund general corporate purposes.
Aryaman Financial Services Limited is the book running lead manager of the Sunita Tools IPO, while Kfin Technologies Ltd is the registrar for the issue. The market maker for Sunita Tools IPO is Ss Corporate Securities.
Also Read – Arvind and Company Shipping IPO opens on Thursday, issue price set at ₹45. Check GMP, review, other details
According to red herring prospectus (RHP), out of (“OFFER FOR SALE”), of 2,00,000 equity shares, 78,000 equity shares of ₹10 each will be s reserved for the market makers.
Further 14,42,000 equity shares of face values ₹10 each at price of ₹145 (including fresh issue of 13,20,000 shares) is net issue to the public.
Sunita Tools Limited IPO GMP today
Sunita Tools Limited GMP today or grey market premium was ₹20, which meant Sunita Tools shares were trading at their issue price of ₹145 and some premium in the grey market according to investorgain.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
“Exciting news! Mint is now on WhatsApp Channels ???? Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!
Download The Mint News App to get Daily Market Updates.
Updated: 11 Oct 2023, 10:21 AM IST