BackMedicamen Organics IPO Day 3: Issue subscribed 425 times so far; check subscription status, GMP, other key details
Medicamen Organics IPO is a book-built issue totaling ₹10.54 crore. The offering consists entirely of a fresh issue of 31 lakh shares. The IPO opened for subscription on June 21, 2024, and will end on June 25, 2024.
PremiumMedicamen Organics IPO: Medicamen Organics, which manufactures, and distributes pharmaceutical dosages, launched its initial public offerings (IPO) on June 21. Medicamen Organics IPO is an SME IPO and has been receiving strong response from investors.
Medicamen Organics IPO has allocated 584,000 shares (18.84%) to Qualified Institutional Buyers (QIB), 440,000 shares (14.19%) to Non-Institutional Investors (NII), 1,028,000 shares (33.16%) to Retail Individual Investors (RII).
Medicamen Organics Limited develops, manufactures, and distributes a range of pharmaceutical dosages, including generic forms such as tablets, capsules, oral liquids, ointments, gels, syrups, suspensions, and dry powders. The company serves both government (state and central) and private entities as a contract manufacturer/third-party manufacturer.
Medicamen Organics IPO subscription status
Medicamen Organics IPO has been subscribed 424.80 times so far on June 25, the third and the last day of bidding process. The SME IPO received bids for 87.16 crore equity shares so far as against 20.52 lakh shares offered, as per the data available till 1:15 pm.
The IPO is subscribed 635.03 times in the retail category, 29.58 times in the QIB category, and 458.18 times in the NII category so far.
Medicamen Organics IPO details
Medicamen Organics IPO is a book-built issue totaling ₹10.54 crore. The offering consists entirely of a fresh issue of 31 lakh shares. The IPO opened for subscription on June 21, 2024, and will end today, June 25, 2024.
Medicamen Organics IPO price band has been set at ₹32 to ₹34 per share. The minimum lot size for an application is 4,000 shares, requiring a minimum investment of ₹136,000 from retail investors.
GYR Capital Advisors Private Limited is the book running lead manager for the Medicamen Organics IPO, with Kfin Technologies Limited serving as the registrar. Giriraj Stock Broking is the market maker for the Medicamen Organics IPO.
Medicamen Organics IPO GMP today
Medicamen Organics IPO GMP today is ₹50. This indicates Medicamen Organics share price were trading at a premium of ₹50 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Medicamen Organics IPO expected listing price is ₹84 apiece, which is 147.06% higher than the IPO price of ₹34.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Read all IPO news updates here
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