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Today is the second day of investing in the IPO of Skoda Tubes Limited, a steel tubes and pipe manufacturer. According to BSE data, the company’s IPO was 3 times more subscribed by evening on May 28.
Today, according to the data of May 29, Non -Institutional Investors (NII) in the Investor category have subscribed 5.31 times the reserve category for themselves. After this, retail investors bid 2.99 times and qualified institutional buyers (QIB) 1.42 times.
Through this issue, the company wants to raise a total of Rs 220 crore. For this, the company is releasing 1,57,14,286 crore fresh shares. Its current investors or promoters are not offering a single share through offs for sale. On June 4, the company shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
If you are also thinking of investing money in this IPO, then we are sharing you all the details related to it …
How much money can you spend minimum and maximum?
Skoda Tubes Limited has fixed the price band of the IPO at Rs 140. Retail investors can do bidding for minimum for a lot, with 100 shares. Accordingly, you will have to invest Rs 14,000 for 1 lot.
At the same time, retail investors can apply for maximum 14 lots or 1400 shares. For this, investors will have to invest Rs 1,96,000 according to the price band.
50% of the issue reserved for retail investors
The company has reserved 50% of the IPO for retail investors. In addition, 28.57% share is reserved for Qualified Institutional Buyers (QIB) and the remaining 14.29% of the Non-Estational Investors (NII).
What is IPO?
When a company releases its shares for the common people for the first time, it is called an initial public offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
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