The Apollo Techno Industries IPO has opened today in the primary market. This IPO belongs to the SME (Small and Medium Enterprises) segment.
The company is receiving attention from investors due to its strong position in the gray market.
Because of this positive gray market trend, the IPO is expected to see good demand. Below are the complete details of the Apollo Techno Industries IPO explained in simple terms.
Contents
IPO Opening and Closing Dates
The Apollo Techno Industries IPO opened today, December 23, and will remain open for subscription until December 26. Interested investors can apply for the IPO during this period.
The company has fixed a price band of ₹123 to ₹130 per share. One lot consists of 1,000 shares. However, investors are required to apply for a minimum of 2 lots, which means 2,000 shares.
At the upper price band, retail investors will need to invest at least ₹2,60,000 to apply for the IPO.
This SME IPO is worth ₹47.96 crore. The entire issue is a fresh issue, which means the company is issuing new shares and no existing shareholders are selling their shares.
Under this fresh issue, the company will issue approximately 37 lakh shares. The funds raised through the IPO will be used for the company’s business needs and growth plans.
Anchor Investors and Lock-in Period
The IPO was opened for anchor investors on December 22, a day before the public issue. Through anchor investors, the company successfully raised ₹13.65 crore.
Regarding the lock-in period:
50% of the shares allotted to anchor investors have a lock-in period of 30 days
The remaining 50% of anchor shares are locked in for 90 days
This means anchor investors cannot sell these shares before the lock-in period ends.
Grey Market Premium (GMP) Update
According to Investors Gain, Apollo Techno Industries IPO is trading at a grey market premium (GMP) of ₹15.
This indicates an expected listing gain of around 11.54% over the issue price. The highest GMP recorded for this IPO so far is ₹18, which further reflects positive market sentiment.
IPO Management Details
Book Running Lead Manager: Beeline Capital Advisors Private Limited
Registrar to the Issue: MUFG Intime India Private Limited