An upcoming addition to the stock market is on the horizon as Bondada Engineering, a company connected to the infrastructure sector, prepares to make its debut. The shares of Bondada Engineering are scheduled to be listed on August 30, 2023. There’s a strong response for Bondada Engineering shares in the grey market, with trading happening at a premium of approximately 80 percent.
Priced in the range of INR 75, Grey Market Premium (GMP) for Bondada Engineering shares has surged to INR 59. This suggests that Bondada Engineering shares could potentially be listed at around INR 134, meaning investors who participated in the IPO could see a benefit of nearly 80 percent on the listing day itself. The company’s IPO was open for subscription from August 22 and remained open until August 25.
The IPO of Bondada Engineering has garnered an impressive oversubscription of more than 112 times. Retail investors subscribed approximately 100.05 times to the IPO’s retail quota, while non-institutional investors subscribed around 115.46 times. The total size of Bondada Engineering’s public issue stands at INR 42.72 crore. Retail investors could apply for 1 lot of the IPO, with each lot containing 1600 shares.
Disclaimer: The information provided here pertains solely to the performance of shares and is not intended as investment advice. Investing in the stock market carries inherent risks, and it is advisable to seek advice from your financial advisor before making any investment decisions.
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