Infonative Solutions IPO: The initial public offering (IPO) of learning development solutions provider Infonative Solutions opened for subscription on Friday. The company aims to raise over ₹24 crore from the SME IPO through the primary market
Infonative Solutions IPO opened for subscription on Friday, March 28, and will close on 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 34% so far on March 28, the first day of the bidding process. The public issue has received bids for 10.17 lakh equity shares as against 29.71 lakh shares on the offer, as per NSE data as of 1:30 PM.
The SME IPO has been subscribed 48% in the retail category, while the QIBs and NIIs 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 no significant grey market premium today. According to stock market observers, Infonative Solutions IPO GMP today is ₹0 per share. This indicates that Infonative Solutions shares are trading without any premium or discount to their issue price in the grey market.
Considering the Infonative Solutions IPO GMP today, the equity shares of the company are trading at ₹79 apiece in the grey market, which is equal to their issue price.
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