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Today is the second day of subscription for Seagull India’s Initial Public Offering (IPO). By 10:30 am on the second day, the issue was subscribed a total of 0.76 times. The IPO was subscribed 1.04 times in the retail category and 1.09 times in the non-institutional investors (NII) category. Investors can bid for the IPO till August 5.
The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 8. Through this issue, the company wants to raise ₹ 1,252.66 crores. For this, the company is issuing 17,063,640 fresh shares worth ₹ 684.25 crores. Whereas, the company’s existing investors are selling 14,174,840 shares worth ₹ 568.41 crores through Offer for Sale i.e. OFS.
If you are also planning to invest money in this, then we are telling you how much you can invest in this.
What is the minimum and maximum amount that can be invested?
Seagull India Limited has fixed the price band of this issue at ₹380-₹401. Retail investors can bid for a minimum of one lot i.e. 37 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹401, then you will have to invest ₹14,837 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 481 shares. For this, investors will have to invest ₹ 192,881 according to the upper price band.
Seagull India Limited’s premium in grey market is 22.44%
Before listing, the company’s stock has reached a premium of 22.44% i.e. ₹ 90 per share in the grey market. In such a situation, according to the upper price band of ₹ 401, its listing can happen at ₹ 491. However, this can only be estimated, the price of the listing of the stock is different from the price of the grey market.
35% of the issue is reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, about 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
Seagull India Limited is an infrastructure construction company
Seagull India Limited is an infrastructure construction company, founded in 2002. The company undertakes infrastructure construction including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways and expressways.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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