IPOs: Two IPOs are going to open in the market during this week. Investors will get opportunities to invest in Idea Forge Technology IPO and Cyient DLM IPO during the week starting from Monday.
So many crores will be raised from both the IPOs
Out of this, Idea Forge Technology’s IPO size is Rs. 567 crores, while the size of Cient DLM IPO is Rs. 592 crores. Thus, both the companies together are going to raise Rs 1,159 crore from the market through their IPO. After the IPO, shares of both the companies will be listed on India’s main stock exchanges, BSE and NSE.
The gray market premium of both is superb
Both are getting good response in the gray market even before the IPO opens. This is indicated by the fact that the gray market premium of both the IPOs is excellent. Currently, the share of Idea Forge Technology in the gray market is Rs. 500, while the gray market premium of Cent DLM IPO is Rs. is 110.
Idea Forge Technology IPO Details
Drone maker Idea Forge Technologies’ IPO will open on Monday, June 26. Bidding for this can be done till June 29. Its price band has been fixed at Rs 638 to Rs 672. Before the IPO, the company raised Rs. 255 crore has been collected.
Details of Cyient DLM IPO
The IPO of electronic manufacturing services company Cyient DLM will open on Tuesday, June 27 and will be available for subscription till June 30. For its IPO, the company raised Rs. 250 to 265 price band has been fixed. Under this IPO Rs. Up to 592 crore new shares will be issued. This means that a company IPO consists only of a fresh share issue and has no part of an offer for sale.
As per SEBI rules, a retail investor in an IPO can invest Rs. Can bid up to 2 lakhs. However, this requires a minimum bid. This means if a lot in an IPO is 15 shares, you have to bid for at least 15 shares. The situation becomes a bit more complicated when the IPO is oversubscribed.
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