Shilpa Gold International IPO: Day 3 Subscription Update & GMP
Today marks the final day for applying to the Shilpa Gold International IPO. This article provides a comprehensive overview of the current subscription figures, the latest Grey Market Premium (GMP), and crucial considerations for potential applicants. We will delve into details particularly relevant for those who are not high-risk takers.
Shilpa Gold International IPO: Key Details
The company’s face value is ₹10. The cut-off price is set at ₹199. To receive an allotment, a minimum of 75 equity shares per lot must be selected when applying. The issue size for this company is ₹360 crore, indicating a small to medium issue size. Retail investors are allocated 35% of the shares.
Category-wise Subscription Status (as of 1 PM)
As of 1 PM, the Qualified Institutional Buyers (QIB) category has shown a less than stellar response, with the IPO subscribed only 0.39 times. For risk-takers to consider applying, the QIB subscription should ideally reach 10 to 15 times by 2:30 PM to 3:00 PM. Non-risk takers, however, should look for a subscription of 15 to 20 times by 3:00 PM before considering an application, as the QIB response has not been robust so far.
In contrast, the Non-Institutional Investors (HNI) category has shown a better response, with subscriptions reaching approximately 67 times overall. Within the HNI category, Big HNI subscriptions stand at about 76 times, while Small HNI subscriptions are around 49 times. Retail Individual Investors (RIIs) have subscribed approximately 16.80 times.
Latest QIB Subscription Update (1:05 PM)
A sudden update at 1:05 PM shows the QIB category subscription has risen to 2.03 times. If the QIB subscription surpasses 10 times, those planning to apply should consider doing so.
Overall Subscription Figures
The total subscription figure for the Shilpa Gold International IPO stands at 22.92 times. This strong overall subscription has led to bids worth approximately ₹5776 crore being placed so far. As of the latest update, the IPO has been subscribed approximately 24 times, with bids totaling around ₹6000 crore.
Shilpa Gold International IPO Grey Market Premium (GMP)
The latest Grey Market Premium (GMP) for this company has seen a decline due to market volatility, currently hovering around ₹33 as per SA report. Based on a GMP of ₹34, the potential listing price is estimated to be ₹233. This translates to an approximate listing gain of 17.5% on one lot, amounting to around ₹2400 per lot.
Application Strategy & Allotment Chances
Personal application strategy involves waiting for the QIB category to be subscribed at least 10 times before applying. If the QIB subscription is between 5 to 10 times, a cautious approach involving fewer lots would be considered. However, if the QIB subscription surpasses 10 times by 3 PM, an aggressive application approach would be adopted. If the QIB subscription reaches 15 to 20 times, a similar aggressive application as with other IPOs would be employed. In terms of allotment chances, Big HNI category applicants have a slightly higher probability compared to Retailers, while Small HNI category applicants have a slightly lower chance of allotment.
