Rama Telecom IPO Day 2: Latest GMP, subscription status, listing date & other details about SME IPO

Rama Telecom IPO in focus today: The IPO of Rama Telecom, which opened for bidding on Wednesday, June 25, was fully booked during the second day of bidding, receiving bids for 36,72,000 shares as against offered shares of 35,10,000 shares, resulting in a subscription rate of 1.05 times. 

The retail investor segment was subscribed 1.3 times, while the non-institutional investor (NII) category also saw a 0.89 times subscription. The Qualified Institutional Buyer (QIB) portion was fully booked.

The company proposes to utilize the net proceeds from the issue. To meet working capital expenses, to meet capital expenditure, general corporate purposes, and other offering-related expenses

Rama Telecom issue details

1. Rama Telecom IPO date: The issue opened for subscription on Wednesday, June 25, and will conclude on Friday, June 27.

2. Rama Telecom IPO Price: The price band of the IPO has been fixed between ₹65 and ₹68 per equity share.

3. Rama Telecom IPO Size: The company aims to raise ₹25.13 crore through the IPO, which is a fresh issue of 36.96 lakh shares.

4. Rama Telecom IPO Lot Size: The IPO lot size is fixed at 2000 shares, requiring a minimum investment of ₹136,000 for retail investors.

5. Rama Telecom IPO reservation: The IPO offers 7.3 lakh shares to QIB, 8.34 lakh shares were reserved for non-institutional buyers, and 19.4 lakh shares to retail investors.

6. Rama Telecom IPO allotment date: The IPO allotment date is set for Monday, June 30. Investors who receive an allotment will see the shares in their demat accounts by Tuesday, July 04, while those who do not will have their refunds processed on the same day.

7. Rama Telecom IPO listing: The SME IPO is proposed to list on the NSE SME on Tuesday, July 02.

8. Rama Telecom IPO GMP: According to market sources, the GMP of the Rama Telecom IPO on Tuesday was 05, indicating that the stock is likely to list at ₹73 apiece, 07% higher than the upper band issue price of ₹68.

9. Rama Telecom IPO book-running lead manager and registrar: Affinity Global Capital Market Private Limited is the book-running lead manager of the Rama Telecom IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for the Rama Telecom IPO is Asnani Stockbroker Private Limited.

10. Rama Telecom overview: Established in July 2004, Rama Telecom provides customized E2E networking solutions in the telecom & datacom forefront. 

The company specializes in optical fiber laying and infrastructure development for clients such as Indian Railways, Airtel, IOCL, and the Airport Authority of India, focusing on seamless networking with sustainable methods and delivering professional quality in telecom and datacom projects.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.