The primary market is buzzing. As many as six SME IPOs are set to hit Dalal Street this week. The initial public offering (IPO) of Graphisads Limited will open for subscription on November 30. It is scheduled to conclude on December 5. The integrated marketing, advertising, and communications firm has said it is looking to raise Rs 53.41 crore through its initial share sale offer. The issue is entirely a fresh issue of 48.12 lakh shares.
It has set the price of each share at Rs 111 of the Rs 10 face value. Investors can bid for a minimum of 1200 shares and in multiples thereof.
A retail investor can apply for only one lot or 1,200 equity shares, which will cost Rs 1,33,200. Non-institutional investors (NIIs) need to bid for a minimum of two lots, or 2,400 equity shares.
It has reserved 2,42,400 equity shares, amounting to Rs 2.69 crore as the market maker portion. Half of the offer is reserved for retail investors, while the remainder has been set aside for other investors.
The shares will be listed on NSE Emerge, a platform for small and medium enterprises, the company said in a statement. The listing will most probably take place on December 13.
While First Overseas Capital is the bookrunner and lead manager of the Graphisads IPO, Kfin Technologies is the registrar.
The net proceeds will be used towards repayment of certain borrowings, meeting working capital requirements, general corporate expenses, and issue expenses.