Kody Technolab IPO: Issue booked over 8 times on second day; check subscription status, latest GMP, other key details

Kody Technolab IPO: The initial public offering (IPO) of software development services company Kody Technolab Ltd is witnessing strong response from investors. The Kody Technolab IPO opened for subscription on September 15 and will close on September 20, 2023.

Kody Technolab provides software development services including staff augmentation, AR development and implementation, enterprise mobility, digital transformation, business analytics and intelligence, artificial intelligence robotics IT consulting, Internet of Things (IoT) services, and IT consulting services, among others to a diverse set of industries.

Let us take a look at Kody Technolab IPO details, GMP today, subscription status and other key details.

Kody Technolab IPO Subscription Status

Kody Technolab IPO has been subscribed 8.51 times on Monday, the second day of the bidding process. The public issue received bids for 1,39,00,800 equity shares as against 16.33 lakh shares on the offer, as per data available on chittorgarh.com

The public issue has been subscribed 14.08 times in the retail category and 2.89 times in the Non-Institutional Investors' (NII) category.

Also Read: Kody Technolab IPO opens: Check price band, latest GMP, subscription status, other key details of SME IPO

Kody Technolab IPO Details

Kody Technolab IPO is an SME issue and fixed price issue. The public offer is entirely a fresh issue of 17.20 lakh equity shares aggregating up to ₹27.52 crore.

Kody Technolab IPO price band has been fixed at ₹160 per share. The IPO lot size is 800 shares and the minimum investment amount required for retail investors is ₹128,000.

The company is likely to finalise the basis of share allotment on September 25 and initiate refunds on September 26, while it will credit the shares in the demat accounts of eligible allottees on September 27.

Kody Technolab shares are expected to list on September 28 at NSE SME.

Beeline Capital Advisors Pvt Ltd is the book running lead manager for Kody Technolab IPO, while Kfin Technologies is the IPO registrar.

Kody Technolab IPO GMP Today

Kody Technolab IPO GMP today, or grey market premium today, is ₹50 per share. This means Kody Technolab shares are trading at a premium of ₹apiece in the grey market.

Considering the latest GMP today and the IPO price, Kody Technolab shares are estimated to list at ₹210 apiece, which is a premium of 31.25% to the issue price.