Hello everyone! This article provides a comprehensive overview of the NST IPO’s Day 3 subscription status. We’ll delve into how this IPO secured a spot among the top 10 IPOs based on its impressive subscription numbers and the records it has set. Additionally, we will explore your allotment chances and the current Grey Market Premium (GMP), considering the ongoing market fluctuations and their direct impact.
NST IPO: Key Dates and Issue Details
The NSL company’s IPO opened for applications on July 13th and concluded on August 1st. If you applied using ASBA and Net Banking before the cut-off time and accepted the UPI ID mandate by 5 PM, your application would have been considered for the lottery system.
The company’s shares have a face value of ₹2, and the issue price was set at the cut-off price of ₹800. A minimum of 18 equity shares constituted one lot, requiring a minimum application amount of ₹14,400. This is a Book Build IPO with a complete Offer for Sale (OFS). The company’s issue size was noted as ₹41 crore.
Key Dates at a Glance:
- IPO Open Date: July 13th
- IPO Close Date: August 1st
- Allotment Date: August 4th (Monday)
- Refund Initiation: August 5th
- Demat Credit: August 5th
- Listing Date: August 6th (on both BSE & NSE)
The issue size distribution was as follows: 50% reserved for Qualified Institutional Buyers (QIBs), 35% for Retail Individual Investors (RIIs), and 15% for High Net-worth Individuals (HNIs). Employees eligible for the employee category received a discount of ₹76, making their cut-off price ₹724.
Robust Subscription Across Categories
The NST IPO witnessed an exceptional response, breaking application records and securing a spot among the top 10 IPOs, surpassing previous records set by IPOs like Bajaj Housing Finance, Tata Technologies, GNG Electronics, and Aditya Infotech.
- Overall Subscription: The IPO was subscribed approximately 41 times, attracting 5,170,678 applications. Against 35.1 million equity shares offered, bids were received for approximately 144 million equity shares, totaling ₹1202 crore in value.
- Qualified Institutional Buyers (QIBs): This category saw a record subscription of 103.97 times (nearly 104 times). Bids were placed for 10.409 crore equity shares against 1.12 crore shares reserved, amounting to a value of ₹83,273 crore.
- High Net-worth Individuals (HNIs): The HNI category was subscribed 34.97 times (nearly 35 times). Bids were received for 2.625 crore equity shares against 75 lakh shares reserved, totaling ₹21,000 crore.
- Big HNI: Subscribed 37.73 times, with bids for 1.8888 crore shares against 50.6 lakh shares, valuing ₹1511 crore.
- Small HNI: Subscribed 29.43 times, with bids for 73.6 lakh shares against 25.3 lakh shares, valuing ₹5893 crore.
- Retail Individual Investors (RIIs): The retail portion was subscribed 7.72 times. Bids were received for 1.3526 crore shares against 1.7521 crore shares reserved, amounting to ₹10,821 crore.
- Employee Category: This category was subscribed 15.27 times, with bids for 12.97 lakh equity shares against 8.5 lakh shares, valuing ₹103 crore.
Understanding Your Allotment Chances
Given the robust subscription, here are the approximate allotment chances based on the application numbers:
- Big HNI Category: Approximately 1 in 7 applications are likely to receive an allotment, indicating the maximum chance within the HNI segment.
- Small HNI Category: Approximately 1 in 26 applications may receive an allotment.
- Retail Category: Around 1 in 6 applications have a chance of receiving an allotment. This higher chance for retailers is attributed to the 35% reservation.
- Employee Category: An allotment chance of approximately 1 in 15 applications.
NST IPO Grey Market Premium (GMP) & Listing Expectations
Due to the recent downturn in the broader market, the Grey Market Premium (GMP) for NST IPO has seen a decline. Currently, the GMP stands at ₹125.
- Expected Listing Price: Based on the current GMP, the shares are anticipated to list around ₹925 (₹800 issue price + ₹125 GMP).
- Expected Listing Gain: This translates to an estimated listing gain of 16%, potentially yielding approximately ₹2400 per lot.
If market conditions improve and recover, there is potential for a positive momentum in the Grey Market Premium.
Important Dates for Anchor Investors
Anchor investors were offered 15,099,999 equity shares valued up to ₹1201 crore on July 29th. These shares have specific lock-up periods:
- 50% of the allocated shares can be sold after 30 days. The first important date for this lock-up expiry is September 3rd.
- The remaining 50% of the shares can be sold after 90 days. The second important date for this lock-up expiry is November 2nd.
For more daily updates on IPOs and Grey Market Premium, make sure to subscribe to the channel and join our Telegram group for timely information.
