Biopol Chemicals IPO: There is a flood of IPOs in the Indian primary market these days. Public issues of many companies are coming in the market. In this list, the SME IPO of Biopol Chemicals Limited, which opened on 6 February, did not meet expectations.

It could get only 13 percent subscription on the first day. However, on the second day, the interest of investors was seen increasing, due to which this issue was subscribed 1.68 times and there was some improvement in its pace. Let us know about the company’s performance in the gray market…

Improvement seen in subscription

The issue received tremendous support due to strong participation from investors on the last day of the IPO. The IPO has been subscribed 22.33 times overall. According to the data, the share of retail investors was 20.80 times, while subscription was recorded 24.49 times in NII category and 21.05 times in QIB category. This makes it clear that investors of all categories have expressed confidence in this issue.

Condition of shares in gray market

The price band of shares of Biopol Chemicals Limited has been fixed between Rs 102 and Rs 108. Talking about the performance of shares in gray market, it is showing GMP of Rs 4. That means, according to the upper price band, company shares can be listed around Rs 112.

Due to which investors are likely to not get the benefits as expected. However, shares may be listed at a premium. The company is trying to raise Rs 31.26 crore from its public issue.

When will share allotment and listing happen?

According to the information, the company’s shares will be listed on the NSE SME platform on 13 February. Whereas on February 11, the allotment process will be finalized by the company.

The shares will be credited to the demat account of the investors who will get the shares on 12th February. Those who do not get allotment, their amount will also be refunded or unblocked on the same day.

Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)

Also read: Gold Silver Price Today: Rise in gold and silver prices, know the latest prices from Delhi to Hyderabad on February 11.