Infonative Solutions IPO Day 4: Issue booked 2.6x so far; check subscription status, GMP, other key details of SME IPO

Infonative Solutions IPO: The initial public offering (IPO) of learning development solutions provider Infonative Solutions has been witnessing decent demand on the last day of the subscription period on Thursday, April 3.

Infonative Solutions IPO opened for subscription on Friday, March 28, and will close today, Thursday, April 3. The IPO allotment is likely to be finalised on April 7, while the equity shares of the company are expected to be listed on April 8 on BSE SME platform.

The SME IPO which is entirely a fresh issue of 31.28 lakh equity shares. Out of these, 1,60,000 shares are reserved for Qualified Institutional Buyers (QIB), 7,04,001 shares are reserved for Non-Institutional Investors (NII), and 21,07,200 shares are allocated for Retail Individual Investors (RII).

Infonative Solutions IPO price band is set at ₹75 to ₹79 per share. At the upper-end of the IPO price band, the company plans to raise ₹24.71 crore. Infonative Solutions IPO lot size is 1,600 shares, and the minimum investment amount required by retail investors is ₹1,20,000.

Share India Capital Services Private Limited is the book-running lead manager of the Infonative Solutions IPO, while Kfin Technologies Limited is the IPO registrar.

Saurabh Kathuria, Abdur Rauf Rahmani, and Yogeshh Goel are the promoters of the company. The promoter shareholding in the company stands at 94.13% at present, which is likely to be dropped to 69.28% after the IPO.

The company posted a net profit of ₹3.64 crore for the six months ended September 2024

Infonative Solutions IPO Subscription Status

Infonative Solutions IPO has been subscribed 2.64 times so far. The public issue has received bids for 78.41 lakh equity shares as against 29.71 lakh shares on the offer, as per BSE data as of 2:35 PM on April 3, the fourth and the last day of the bidding process.

The SME IPO has been subscribed 3.14 times in the retail category, and 1.74 times in the NII category. The QIBs are yet to bid for the public issue so far.

Infonative Solutions IPO GMP Today

Infonative Solutions shares are witnessing a muted trend in the unlisted market, with a fall in grey market premium today. According to stock market observers, Infonative Solutions IPO GMP today is ₹5 per share. This indicates that in the grey market, Infonative Solutions shares are trading higher by ₹5 apiece than their issue price.

Considering the Infonative Solutions IPO GMP today, the equity shares of the company are trading at ₹84 apiece in the grey market, which is at a premium of 6.33% to the IPO price of ₹79 per share.

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