Ramdevbaba Solvent IPO Day 2: Check Subscription Status, GMP Today

Solvent Ramdevbaba IPO: The initial public offering of Ramdevbaba Solvent Ltd, which opened for public subscription on April 15, received a positive response from investors. Its price has been fixed at Rs 80-Rs 85 per share. Till 11:06 am on the second day of bidding on Tuesday, the Rs 50.27 crore SME IPO was subscribed 5.70 times, drawing bids for 2,41,31,200 shares against 42,33,600 shares on offer.

Ramdevbaba Solvent’s IPO opened on April 15.

The allotment of Ramdevbaba Solvent IPO shares will take place on April 19, while the shares will be listed on NSE SME on April 23.

Ramdevbaba Solvent ipo gmp today

According to market watchers, the unlisted shares of Ramdevbaba Solvent Ltd are trading 15 rupees higher in the gray market compared to the issue price. The gray market premium of Rs 15 or GMP means that the gray market expects a listing gain of 17.65 percent from the public issue. GMP is based on market sentiment and is constantly changing.

The “grey market premium” indicates the willingness of investors to pay more than the issue price.

Solvent Ramdevbaba IPO Details

Ramdevbaba Solvent’s IPO, which is a book-entry issue of Rs 50.27 crore, is entirely a new issue of 59.14 lakh shares.

Its IPO price range is set at Rs 80 to Rs 85 per share. The minimum lot size for an application is 1,600 shares. The minimum investment amount required by retail investors is Rs 1,36,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) worth Rs 2,72,000.

Choice Capital Advisors Pvt Ltd is the lead book-running manager of the Ramdevbaba Solvent IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker of the Ramdevbaba Solvent IPO is Choice Equity Broking.

Ramdevbaba Solvent Limited, established in 2008, produces and distributes physically refined rice bran oil. The company is involved in manufacturing, distributing, marketing and selling Rice Bran Oil to FMCG companies such as Mother Dairy Fruit & Vegetal Private Limited, Marico Limited and Empire Spices and Foods Ltd. under its own brands “Tulsi” and “Sehat ” through 38 distributors who in turn sell to various retailers across Maharashtra.

Its revenue increased by 20.35 percent and profit after tax (PAT) increased by 97.25 percent during the financial year 2022-23.