• Source:JND
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Innovision, Rajputana Stainless IPOs GMP And Subscription Status: The initial public offerings opened for public subscription this week struggled to attract bidders as investors remained cautious, seeing volatility in the secondary market due to the ongoing war in the Middle East. The IPO of Rajputana Stainless is yet to be fully subscribed, even after the second day of the bidding period ended on Tuesday. The share sale of Innovision, which opened for public subscription today, met the same fate. 

According to NSE data, the Innovison IPO was subscribed 0.02 times or 2 per cent till 4:48 PM on day 1, and Rajputana Stainless share sale received 0.41 times or 42 per cent subscription on its second day.  The subdued trend in the primary market has its reflection in the grey market as well, as the GMP for Rajputana Stainless and Innovision remained flat, indicating both tepid gain on listing and dejected interest among investors. 

Innovision Subscription Status And GMP

The Rs 322.84 crore initial share sale did not attract investors on the very first day on March 10, as it was subscribed merely 2 per cent or 0.02 times. The retail sector was subscribed o.o2 times, the subscription for Non-Institutional Investors quota was nil. However, shares reserved for Qualified Institutional Investors received 96 per cent subscription.

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Meanwhile, Innovision IPO GMP remained zero, according to Investorgain. This means investors are not interested in buying the shares at a premium or discount in the unofficial market.

Innovision IPO will conclude on March 12. The price band has been fixed at Rs 521 to Rs 548 per share, and investors have to buy a lot of 27 shares to place a bid.

The shares are expected to list on stock exchanges on March 17.

Rajputana Stainless IPO Subscription Status & GMP

On the second day of subscription, the initial share sale was subscribed o.42 times or 42 per cent, receiving bids for 88,17,270 shares against 2,09,00,000 allotted shares. The retail quota was subscribed o.11 times or 11 per cent, while Non Individual quota was subscribed to 0.94 times or 94 per cent. At the same time, the shares allotted for Qualified Institutional Buyers got 0.99 times or 99 per cent bids.

Also Read: Rajputana Stainless IPO Day 1: Share Sale Subscribed 30%; Check Latest GMP

Rajputana Stainless IPO GMP remained almost flat as the company shares were trading with a grey market premium of Rs 1 in the unofficial market over the IPO price.

The Rs 254.98 crore IPO of Rajputana Stainless will conclude on March 11. The price band for the book build issue is Rs 116-Rs 122 per share, and bidders have to buy a lot of 110 shares to place a bid.


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