Associated Coaters IPO day 2: Check Subscription status , GMP, key dates and all you need to know

Associated Coaters IPO: The Issue Associated Coaters IPO has opened for subscription on Thursday 30 May , 2024, and closes on Monday 3 June, 2024.

Associated Coaters IPO subscription status:

On the opening day of the IPO, i.e on May 30, 2024, , the Associated Coaters IPO had been subscribed 30.59 times. The retail category was subscribed 52.19 times, the QIB category saw nill subscriptions, while the NII category saw 8.98 times subscriptions by 5 PM on 31 May, suggested Chittorgrah.com data

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Associated Coaters IPO issue Size and subscription details

The ₹5.11 crore Associated Coaters IPO is being offered at a fixed price. Associated Coaters is issuing fresh 4.22 lakh shares

Retails Investors need to bid for Associated Coaters IPO shares at ₹121 per share. Since the minimum lot size for an application is 1000 Shares, retail investors will need minimum investment of ₹121,000 if they apply for the IPO. Since HNI need to apply for minimum 2000 shares they need to invest minimum of ₹242,000,

Associated Coaters IPO Key dates

The allotment for the Associated Coaters IPO that has opened for subscription on Thursday 30 May , 2024, and closes on Monday 3 June, 2024 is likely to be finalised by Tuesday , 4 June '2024. The issue is likely to be listed on Thursday, 06 June, 2024 on the BSE SME.

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Associated Coaters IPO -Objectives of the Issue

The Net proceeds from the Fresh Issue of share us to be utilised by Associated Coaters for financing the capital costs associated with installing equipment and plants in the current location. For Meeting the Working Capital requirements and for the General Company Objectives.

About Associated Coaters

Associated Coaters Limited was established in 2017 and offers pre-treatment and powder coating services for aluminum extrusions used in the real estate and architectural sectors.

With an automatic and a manual coating plant and an annual capacity of 1,200 metric tons, the company is a major participant in the aluminum extrusion coating market in eastern India.

Associated Coaters IPO: Registrars and Book running Lead

Bigshare Services Pvt Ltd is the registrar for the Associated Coaters IPO, and Gretex Corporate Services Limited is the book running lead manager. Gretex Share Broking is the market maker for Associated Coaters' initial public offering.

Associated Coaters IPO GMP or Grey Market premium

The Associated Coaters IPO GMP, or grey market market premium, is currently at ₹51 per share, according to investorgains.com. This indicates that, the equity shares of Associated Coaters are valued at ₹172 per share in the grey market, which is 42.15% higher than the ₹121 share issue price.