Winsol Engineers shares made a bumper stock market debut on Tuesday as the shares were listed at a hefty premium.
Winsol Engineers share price was listed at ₹365 apiece on NSE SME, a premium of 386% to the issue price of ₹75 per share.
Winsol Engineers IPO listing was better than with street expectations as Winsol Engineers IPO GMP today, or grey market premium today, was ₹199 per share, indicating listing with around 265.33% premium.
The bidding for Winsol Engineers IPO began on May 6 and ended on May 9.
The IPO allotment was finalized on May 10 and the Winsol Engineers IPO listing date was fixed on May 14.
Winsol Engineers shares made a bumper stock market debut on Tuesday as the shares were listed at a hefty premium. Winsol Engineers share price was listed at ₹365 apiece on NSE SME, a premium of 386% to the issue price of ₹75 per share.
Winsol Engineers IPO listing gains stood at ₹290 per share. With a lot size of 1,600 shares, the listing gains of the SME IPO stand at ₹4,64,000 a lot.
Winsol Engineers IPO listing was better than with street expectations as Winsol Engineers IPO GMP today, or grey market premium today, was ₹199 per share, indicating listing with around 265.33% premium.
The bidding for Winsol Engineers IPO began on May 6 and ended on May 9. The IPO allotment was finalized on May 10 and the Winsol Engineers IPO listing date was fixed on May 14.
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Winsol Engineers IPO price band was set at ₹71 to ₹75 per share and at the upper-end of the price band, the company raised ₹23.36 crore from the book-built issue which is entirely a fresh issue of 31.15 lakh equity shares.
The company proposes to use the fresh issue proceeds towards working capital requirements and general corporate purposes.
Winsol Engineers IPO was subscribed by a robust 682.14 times in total. The issue received bids for 141.44 crore equity shares as compared to 20.73 lakh shares on the offer.
The public issue was subscribed 780.15 times in the retail category, 207.23 times in the Qualified Institutional Buyers (QIB) category and 1,087.81 times in the Non-Institutional Investors (NII) category.
Also Read: Silkflex Polymers IPO allotment out today. Latest GMP, steps to check status
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Winsol Engineers IPO, while Kfin Technologies is the IPO registrar.
Winsol Engineers provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions for both solar and wind power generation firms. Its core services for BoP Solutions include foundation work, substation civil and electrical work, and right-of-way services.
As of April 2024, Winsol Engineers had more than 41 major ongoing projects with a total value of approximately ₹119.53 crore.
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