Repono IPO subscribed 60.55 times, Umiya Mobile issue booked 2.48x on final day

IPO Subscription News

Warehousing and logistics company Repono's IPO was subscribed 60.55 times, and the public issue of smartphones retailer Umiya Mobile saw 2.48 times subscription on July 30, the final day of bidding.

Both public issues were opened on July 28. Both companies will finalise the IPO share allotment by July 31, and the trading in their shares will commence on the BSE SME effective August 4.

Repono, which provides storage solutions for the oil and petrochemical sectors, has received 12.03 crore shares bids against its offer size of 19.87 lakh shares via 31,265 applications.

Non-institutional investors bid 79.69 times their allotted quota. The parts set aside for retail investors and qualified institutional buyers were subscribed 67.47 times, and 29.03 times, respectively.

Repono is raising Rs 26.68 crore via initial public offering of 27.79 lakh shares at Rs 96 per share. The book-building issue consisting entirely fresh issue had a price band of Rs 91-96 per share.

The IPO proceeds will be utilised for purchase of forklift, hand pallet trolley, reach stacker, and setting up of warehouse racking system. Further, the company will develop software for warehouse management, and fund the working capital requirements through its IPO money.

Click Here To Read All IPO News

Meanwhile, the public issue of Rajkot-based smartphones retailer Umiya Mobile was booked 2.48 times with investors buying 93.84 lakh shares compared to the offer size of 37.7 lakh shares via 1,310 applications.

The company approached capital markets to raise Rs 24.88 crore via initial share sale at Rs 66 per share. It was fixed price issue.

Umiya Mobile that operates 149 stores in Gujarat and 69 in Maharashtra is set to lower its debt by Rs 19 crore through IPO proceeds, and the remainder funds will be used for general corporate purposes.