Subam Papers IPO allotment likely to be fixed today; Latest GMP, steps to check allotment status

Subam Papers IPO Allotment: The initial public offering (IPO) of Subam Papers Ltd received strong demand as as the bidding period has now ended, applicants watch out for Subam Papers IPO allotment which is expected to be finalised today.

Subam Papers IPO is a BSE SME IPO which was open from September 30 to October 3. Subam Papers IPO allotment date is likely today, October 4.

The company is expected to fix the basis of Subam Papers IPO allotment today. The equity shares will be credited into the demat accounts of eligible bidders on October 7 and the refunds will be issued to unsuccessful bidders on the same day.

Investors can check Subam Papers IPO allotment status online through the BSE website or the official portal of IPO registrar. Bigshare Services Pvt Ltd is the Subam Papers IPO registrar.

Subam Papers IPO allotment status online check can be done through a few simple steps. Here are the steps to check Subam Papers IPO allotment status online:

Subam Papers IPO Allotment Status Check on Bigshare:

Step 1] Visit IPO registrar website on this link -https://ipo.bigshareonline.com/ipo_status.html

Step 2] Select ‘Subam Papers Limited’ in the Company Selection dropdown menu

Step 3] Choose among ‘Application No, Beneficiary Id and PAN’ in the Type

Step 4] Enter the details as per the option selected

Step 5] Enter the Captcha code and click on ‘Search’

Your Subam Papers IPO allotment status will be displayed on the screen.

Subam Papers IPO GMP

The equity shares of Subam Papers Ltd are commanding a decent premium in the grey market. According to stock market observers, Subam Papers IPO GMP today, or grey market premium today, is ₹24 per share. This indicates that in the grey market, Subam Papers shares are trading higher by ₹24 than their issue price.

Subam Papers IPO GMP today and the issue price suggests that the estimated Subam Papers IPO listing price will be ₹176 per share, a premium of 15.79% to the issue price of ₹152 apiece.

Subam Papers IPO Details

Subam Papers IPO opened for subscription on Monday, September 30, and closed on Thursday, October 3. Subam Papers IPO allotment is likely to be fixed today, October 4 and the IPO listing date is October 8. The equity shares of Subam Papers will be listed on BSE SME platform.

The company raised ₹93.70 crore from the book-built issue which comprised entirely a fresh issue of 61.65 lakh shares. Subam Papers IPO price band was set at ₹144 to ₹152 per share.

Subam Papers IPO was subscribed 92.93 times in total. The public issue was subscribed 48.97 times in the retail category, 57.18 times in the Qualified Institutional Bidders (QIB) category and 243.16 times in the Non-Institutional Investors (NII) category.

Gretex Corporate Services Limited is the book running lead manager of the Subam Papers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Read all IPO news here

Disclaimer: 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.