AIK Pipes And Polymers IPO Day 2: Subscription Status, GMP & Other Details

An SME offering of 1,688,000 equity shares with a face value of Rs. 10 totalling up to Rs. 15.02 crores is AIK Pipes and Polymers IPO. The subscription period for the AIK Pipes and Polymers IPO began on Tuesday, December 26, and it ends on Thursday, December 28.

The second day of bidding saw 4.72 subscriptions for the AIK Pipes and Polymers IPO. By December 27, it was booked 6.39 times for the retail part and 1.05 times for the NII category. On the second day of the IPO, 75,64,800 bids were received compared to the shares offered of 1,603,200.

There were 5121600 shares bid for the retail category and 801,600 shares offered, for a total subscription amount of Rs 45.58 Cr. In contrast, there were 840000 shares bid for the NII category and 801,600 shares offered, for a total subscription amount of Rs 7.48 Cr. On the first day of the SME IPO, 1.19 times as many people subscribed. Retail investors responded well to the issue; their portion was subscribed 2x. Non-institutional purchasers bought 0.37% of their allocation on day 1.

On Friday, December 29, 2023, the allocation for the AIK Pipes and Polymers IPO is anticipated to be completed. On Monday, January 1, 2024, shares will be credited to the allottees' demat accounts. The proposed listing date for the AIK Pipes and Polymers Initial Public Offering (IPO) is Tuesday, January 2, 2024, on BSE SME.

The IPO price of AIK Pipes and Polymers is Rs 89 per share. Retail investors must deposit a minimum of Rs 142,400 since the minimum lot size for an application is 1600 shares. For HNIs, the minimum lot size is two lots, or 3,200 shares, for a total of Rs 284,800.

The AIK Pipes and Polymers IPO's book-running lead manager is Shreni Shares Limited, and the registrar is Skyline Financial Services Private Ltd. Shreni Shares is the market maker for the IPO of AIK Pipes and Polymers. Working capital needs, capital expenditures, and general corporate goals are the anticipated applications aimed to be fulfilled by the use of net proceeds of the IPO.

As of December 28, 2023, 06:03 AM, the latest GMP for the AIK Pipes and Polymers SME IPO was Rs 6. The expected listing price for the AIK Pipes and Polymers SME IPO, comprising a price band of 89.00, is Rs 95, which includes the upper price band + the current GMP. Market observers predict a listing gain of 6.74% considering the current GMP, according to investorgain.com.