SME IPO: Vinsys IT Services' Offer Oversubscribed; Latest GMP, Subscription Status, Other Details Here

SME IPO: IT services provider, Vinsys IT Services India fully subscribed on the first day of its initial public offering (IPO). The issue was launched on August 1 and will continue till August 4, 2023. Vinsys equity shares are proposed to be listed on Emerge platform of the National Stock Exchange of India (NSE).

As per the data on NSE, on Day 1 (August 1), the IPO received bids of 97,13,000 equity shares against the offered size of 38,94,000 equity shares, registering a subscription of 2.49 times.

Retail and non-institutional investors showed robust demand for this SME IPO.

Data showed that the retail individual investors (RII) portion bid for 86,13,000 equity shares, while the non-institutional investors' category bid for 10,92,000 equity shares. However, the qualified institutional buyers (QIBs) showed dull demand with the bidding of 8,000 equity shares.

Wednesday, which is the second day of the issue, will begin from 10 a.m. to 5 p.m. on NSE.

The IPO is 100% book building at a price band of Rs 121 to Rs 128 per share at a face value of Rs 10 each. The bid lot size is 1,000 Equity Shares and in multiples thereof.

Retail investors can bid for a maximum of Rs 2 lakh, and QIBs and NIIs can bid for a maximum of 27,86,000 equity shares and 18,51,000 equity shares in a multiple of 1000 Equity Shares.

Beeline Capital Advisors is the book running lead manager for the IPO, while Link Intime India is the registrar.

After the IPO, the company's basis of allotment of equity shares is likely to take place on August 9, followed by initiation of refunds on August 10, and credit of shares to demat accounts on August 11. As per Chittorgarh, the listing of this IPO is expected to be on August 14.

As per TopShareBrokers, Vinsys traded at Rs 55 in the grey market premium on Tuesday. The GMP suggests a nearly 43% premium listing to Rs 183 apiece (Rs 128+55) as of now.

Founded in 2008, Vinsys IT is engaged in IT business. The company's core business includes Training and Certifications, Digital Learning, Project Management, and technology training. It provides a comprehensive end-to-end solution by delivering robust and advanced digital learning solutions.

The company also has its footprints globally by delivering services in Saudi Arabia, Oman, Qatar, Australia, Kenya, Tanzania, Singapore, and Malaysia.

Vinsys is dedicated to becoming an accredited training service provider to meet the growing demand for training and workforce development