Emiac Technologies IPO Day 3: 28% Subscribed with Price Band Set at ₹93-₹98
Emiac Technologies IPO Dy 3: Issue booked 28% so far — Check price band, GMP, issue dates and other details about SME
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Emiac Technologies' initial public offering (IPO) has seen a 28% subscription rate after three days of bidding, with the issue open until April 8. The IPO, valued at ₹31.75 crore, has a price band of ₹93 to ₹98 per share and aims to raise funds for various corporate purposes.
- 01Emiac Technologies IPO is 28% subscribed as of Day 3.
- 02The price band for the IPO is set between ₹93 and ₹98 per share.
- 03Retail investors need to invest a minimum of ₹1,17,600 for two lots.
- 04The IPO will remain open until April 8, with allotment on April 9.
- 05The grey market premium (GMP) for the IPO is currently nil.
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As of April 1, Emiac Technologies' initial public offering (IPO) has garnered a 28% subscription rate, having received bids for 6,61,200 shares against the 23,52,000 shares available. The IPO, which opened on March 27 and will close on April 8, is valued at ₹31.75 crore and offers shares in a price band of ₹93 to ₹98 each. Retail investors must apply for a minimum of two lots, totaling ₹1,17,600, while high-net-worth individuals (HNIs) need to invest at least ₹3,52,800. The funds raised will be used for purchasing technology equipment, funding working capital, and marketing activities. The allotment is scheduled for April 9, with shares expected to list on the BSE SME platform on April 13. Currently, the grey market premium (GMP) for the IPO is nil, suggesting that shares may list at the offer price.
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The IPO's performance may influence investor sentiment and market confidence in the technology sector, potentially affecting future fundraising efforts for similar companies.
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