The Indian IPO market remains active as two public issues open for subscription today, September 28. The ₹218.40 crore SRIT India IPO and ₹90.17 crore Shah Investor’s Home IPO have opened their bidding windows for investors.
SRIT India is a Bengaluru-based IT and IT-enabled services company providing digital solutions, customised application development and system integration services. Shah Investor’s Home, meanwhile, operates in the retail broking segment and provides financial services including equity and derivatives brokerage, along with services related to equities, IPOs and other securities for retail investors, including resident and non-resident Indians.
Both IPOs are entirely fresh issues. SRIT India is offering 1.68 crore fresh shares, while Shah Investor’s Home is also issuing only fresh shares.
SRIT India IPO Price Band and Lot Size
The SRIT India IPO has fixed its price band at ₹123 to ₹130 per share. The minimum application size is 115 shares, making the minimum investment for a retail investor ₹14,950 at the upper end of the price band.
Choice Capital Advisors is acting as the book-running lead manager for the issue, while Kfin Technologies has been appointed as the registrar.
SRIT India IPO GMP
According to Investorgain, the grey market premium (GMP) for SRIT India stood at ₹33 late on September 27.
Based on the upper IPO price of ₹130, the estimated listing price works out to ₹163, indicating a potential listing gain of 25.38% based on the GMP.
However, GMP is an unofficial market indicator and can change quickly. It does not guarantee the actual listing price or any listing gain.
Shah Investor’s Home IPO Price Band and Lot Size
The Shah Investor’s Home IPO has a price band of ₹159 to ₹167 per share. Retail investors can apply for a minimum of 85 shares in one lot.
At the upper price of ₹167 per share, the minimum investment required for a retail investor is ₹14,195.
Beeline Capital Advisors is the book-running lead manager, while MUFG Intime India is handling the registrar responsibilities for the issue.
Shah Investor’s Home IPO GMP
Investorgain data showed the Shah Investor’s Home IPO GMP at ₹9 late on September 27.
Using the upper price band of ₹167, the estimated listing price based on the GMP is ₹176, implying a potential listing gain of 5.39%.
As with other IPO GMP figures, this is an unofficial indicator and may fluctuate. It should not be considered a guarantee of the actual listing performance.
IPO Allotment, Refund and Listing Dates
The subscription window for both IPOs opens on September 28 and will remain available until September 30.
The important dates are:
- Bidding opens: September 28
- Bidding closes: September 30
- Allotment: October 1
- Refund: October 5
- Shares credited: October 5
- Listing: October 6
Disclaimer
This article is provided for informational purposes only and does not constitute investment advice or a recommendation to subscribe to any IPO. IPO investments involve market risks, and grey market premiums are unofficial indicators that can change without notice. Investors should review the offer documents and consider their own financial circumstances before making an investment decision.