ARC Insulation IPO got a strong start in the stock market. The company was listed on NSE SME at ₹145 per share, a 16% premium over the issue price.
However, soon after the listing, the stock saw a decline. After falling by 5%, it closed at ₹137.75 per share.
The company had fixed the IPO price band between ₹119 and ₹125 per share. Each lot contained 1,000 shares, and a retail investor had to apply for at least 2 lots, which meant a minimum investment of ₹2,38,000.
IPO Details and Subscription
The IPO opened for retail investors on 21 August and remained open till 25 August.
The total IPO size was ₹41.19 crore, with 30 lakh shares issued.
Additionally, the company offered 3,000 shares through an offer for sale.
The response from investors was strong.
Overall subscription: 18.71 times
Retail investors: 17.27 times
QIB (Qualified Institutional Buyers): 15.12 times
NII (Non-Institutional Investors): 26.84 times
Anchor Investors and Lead Managers
Before the public issue, the IPO was open for anchor investors on 20 August, where the company raised ₹11.71 crore.
Book running lead manager: Gretex Corporate Services Ltd.
Registrar: Maashitla Securities Pvt. Ltd.
