Thaai Casting IPO Last Day Update: Check Status, What is GMP Cues.

The initial public offering (IPO) of automotive ancillary company Thaai Casting Ltd has garnered remarkable attention from investors, with a subscription rate of 344.90 times as of 4:42 pm on Tuesday, February 20, the last day of bidding.

Opening and Closing Dates

The initial public offering (IPO) is scheduled to close on Tuesday, February 20, having opened for subscription on Thursday, February 15.

Subscription Breakdown

- The retail category witnessed an overwhelming subscription rate of 112.76 times, showcasing strong retail investor interest.
- The non-institutional quota received bids 68.75 times the offered shares.
- The qualified institutional buyer (QIB) category observed a subscription rate of 3.62 times.

Allotment and Listing Dates

The allotment of Thaai Casting IPO is scheduled for February 21, while listing will take place on the NSE SME on February 23, 2024.

Grey Market Premium (GMP) Today

Market observers report that unlisted shares of Thaai Casting Ltd are trading at a premium of Rs 68 in the grey market compared to its issue price. This Rs 145 GMP indicates a 88.31% listing gain expectation from the public issue. It's important to note that the GMP is based on market sentiments and may fluctuate.

Thaai Casting IPO Details:

- Thaai Casting IPO comprises an entirely fresh issue of 61.3 lakh shares.
- The price band of the IPO is set at Rs 73 to Rs 77 per share.
- An application must have a minimum lot size of 1,600 shares.
- Retail investors are required to invest a minimum amount of Rs 1,23,200.
- High net worth individuals (HNIs) are required to contribute a minimum of Rs 2,46,400, or two lots (3,200 shares).

Lead Managers and Registrars

Purva Sharegistry India Pvt Ltd is the registrar of the Thaai Casting IPO, while GYR Capital Advisors Private Limited is the book running lead manager. Additionally, Giriraj Stock Broking and Commodity Mandi are designated as market makers for the IPO.

The overwhelming response to Thaai Casting IPO underscores investor confidence in the company's prospects, setting the stage for a successful listing on the stock exchange.