The initial public offering (IPO) of iValue Infosolutions was fully subscribed on the final day of bidding on Monday, while its grey market premium (GMP) saw a decline.
The issue received bids for 1.30-crore shares against 1.31-crore shares on offer, according to NSE data at 11 a.m.
The quota for Qualified Institutional Buyers (QIBs) was subscribed 1.22 times. The category for Retail Individual Investors (RIIs) attracted 1.01 times subscription, while non-institutional investors put in bids for 68 percent of the shares reserved for them.
Creador-backed iValue Infosolutions had raised Rs 168 crore from anchor investors last Wednesday.
iValue Infosolutions IPO GMP Today Price
According to platforms tracking the grey market activities, the shares of iValue Infosolutions are commanding a GMP of 1 percent in the unregulated market. Investorgain quoted a GMP of Rs 3 for the shares of the company, indicating a listing gain of 1 percent. The current GMP is a decline from last week when the shares of the issue were commanding a GMP of around 7 percent.
The Rs 560-crore public offer, with a price band of Rs 284-299 per share, will conclude for subscription on September 22. At the upper end of the price band, the company is valued at around Rs 1,600 crore.
iValue Infosolutions is an enterprise technology solutions provider that works with large enterprises, system integrators and original equipment manufacturers (OEMs) in areas such as digital applications and data management.
The allotment of shares is expected on September 23, while listing on the BSE and NSE is scheduled for September 25.
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