Shree OSFM E-Mobility IPO: Check out the latest subscription and GMP details
The initial public offering (IPO) of Shree OSFM E-Mobility received a muted response from investors. The issue was subscribed 10 percent in the first hour of bidding. It has received bids for 3.72 lakh shares against 38.84 lakh shares on offer.
The category for retail investors was subscribed 17 percent while that of non-institutional investors (NII) saw only 4 percent bids.
GMP: The company’s shares in the grey market are trading at 0, indicating no premium versus IPO price at listing. It has decreased from ₹2 in the previous session.
However, one must note that grey market premium is only an indicator of how the company’s shares are performing in the unlisted market and can change quickly.
About the IPO
The ₹24.6 crore SME (small and medium enterprise) IPO opened for subscription today, December 14 and will close on December 18. It has announced a price band of ₹65 per share for its IPO. The minimum lot size for an application is 2000 shares. The minimum amount of investment required by retail investors is ₹1,30,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹2,60,000.
The issue is entirely a fresh issue of 37.84 lakh shares. Ramnath Chandar Patil and Nitin Bhagirath Shanbhag are the promoters of the company.
Around 50 percent of the net offer is reserved for retail investors.
First Overseas Capital Limited is the book-running lead manager of the Shree OSFM E-Mobility IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Shree OSFM E-Mobility IPO is Bhh Securities.
The allotment for the Shree OSFM E-Mobility IPO is expected to be finalized on Tuesday, December 19, 2023, and it will list on NSE SME with a tentative listing date fixed as Thursday, December 21, 2023.
Established in 2006, Shree OSFM E-Mobility Limited, formerly recognized as Om Sai Fleet Management (India) Private Limited, specializes in delivering employee transportation services to prominent multinational corporations (MNCs) with a widespread presence in major cities throughout India. The company has offices in 42 sites in cities like Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata. Shree OSFM E-Mobility’s clientele includes JP Morgan, Morgan Stanley, Capgemini, Accenture, etc.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 14 Dec 2023, 10:47 AM IST
