SAR Televenture IPO: Check latest GMP, subscription status on day 3, other key details

SAR Televenture IPO has opened for subscription on Wednesday, November 1, and will close on Friday, November 3. SAR Televenture IPO's price band is set in the range of ₹52 to ₹55. Investors can bid for a minimum of 2,000 shares and in multiples thereof.

SAR Televenture Limited provides telecom network operators with telecom solutions. The company's operations include tower installation and commissioning for 4G and 5G networks, sales of network equipment, and optical fibre cable (OFC) systems.

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As per the Red Herring Prospectus (RHP), SAR Televenture IPO's listed peers are Suyog Telematics Ltd (with P/E of 17.65), and Kore Digital Ltd (with P/E of 27.39).

M.G. Metalloy Private Limited is the promoter of the company.

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SAR Televenture IPO details

SAR Televenture IPO, which is worth ₹24.75 crore, is completely a fresh issue of 4,500,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The net proceeds of the issue will be used by the company to finance the installation of 5G/4G towers, the full or partial repayment and/or prepayment of some outstanding secured borrowings, the financing of the company's working capital needs, and general corporate purposes.

The SAR Televenture IPO's book running lead manager is Pantomath Capital Advisors Pvt Ltd, and the registrar is Skyline Financial Services Private Ltd.

The company has reserved not more than 50% of the shares in the public issue for QIB, not less than 15% for NII, and not less than 35% for retail investors.

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SAR Televenture IPO subscription status

SAR Televenture IPO subscription status was 286.21 times on day 3, so far. The issue received positive response from retail investors who's portion set was subscribed 218.39 times, and good response from non-institutional buyers who's portion set was subscribed 715.62 times, according to data on chittorgarh.com. QIBs portion was subscribed 77 times. 

The company has received bids for 85,80,44,000 shares against 29,98,000 shares on offer, at 16:33 IST, according to data on chittorgarh.com.

On day 1, SAR Televenture IPO was subscribed 8.40 times, and the issue was booked 34.95 times on day 2. 

SAR Televenture IPO GMP today

SAR Televenture IPO GMP or grey market premium is +39. This indicates the SAR Televenture share price was trading at a premium of ₹39 in the grey market on Friday, according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

SAR Televenture IPO Review

“The company is engaged in providing telecom network towers and related services. Its operation spread in domestic and neighboring countries. Last 15 months working indicates the bright prospects ahead. Based on FY24 annualized earnings, the issue appears reasonably priced. Investors may park funds for the medium to long-term rewards,” said Dilip Davda, the contributing editor at Chittorgarh.

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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.