Samay Project Services IPO Day 1: Check subscription, GMP, size and other details about ₹15 crore SME issue

Samay Project Services IPO: The initial public offering (IPO) of Samay Project Services, an engineering, procurement and construction (EPC) firm, kicked off for subscription on Monday, June 16, with an aim to raise nearly ₹15 crore from the initial share sale.

The SME IPO saw decent demand from investors despite a lacklustre trend in the grey market.

Samay Project Services IPO Subscription

As of 3.50 pm on the first day of bidding, Samay Project Services IPO was booked 78%. The retail portion garnered 48% bids, the non-institutional investor (NII) quota received 3% bids, while the qualified institutional investor portion saw 1.92 times bids.

Samay Project Services IPO GMP

The strong demand for the Samay Project Services IPO was visible despite the company shares trading at nil grey market premium or GMP. Thus, Samay Project Services IPO GMP signals listing at par for the company shares.

Samay Project Services IPO Details

Here are the key details about Samay Project Services IPO:

Samay Project Services IPO Subscription Dates: The Samay Project Services IPO will run for subscription from June 16 to June 18.

Samay Project Services IPO Size: The company is looking to raise ₹14.69 crore at the upper end of the price band.

Samay Project Services IPO Structure: The IPO is entirely a fresh issue of 43.20 lakh shares.

Samay Project Services IPO Price Band: The price band for Samay Projects Services has been fixed at ₹32 to ₹34 per share.

Samay Project Services IPO Lot Size: Investors can apply for 4000 shares in one lot, requiring a minimum investment of ₹1,28,000 from retail investors.

Samay Project Services IPO Objective: The company plans to use ₹12 crore for funding the working capital requirements of the company, and the remaining for general corporate purposes.

Samay Project Services IPO Listing Date: The shares of Samay Project Services are expected to list on June 23 on NSE SME.

Samay Project Services IPO BRLMs: Smart Horizon Capital Advisors Private Limited is the book-running lead manager of the Samay Project Services IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

About Samay Project Services: The company is an EPC service provider, specialising in design, engineering, and the commissioning of balance of plant (BOP) systems across various industries. The company engages in EPC projects including piping systems, tanks, vessels, and fabricated structures, and fire protection and detection systems.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.