The IPO of Oriana Power Limited commenced its subscription on August 1, attracting immense interest from investors. Within just one day, the IPO was oversubscribed by a staggering 13.10 times.
This strong response has left investors pleased, particularly due to the Gray Market Premium (GMP) surpassing Rs 100.
Oriana Power Limited IPO Subscription Breakdown
As per the latest report from chittorgarh.com, Oriana Power Limited’s IPO witnessed remarkable demand across different categories.
The retail section showed the highest enthusiasm with a subscription of 22.61 times, followed by the non-institutional investors at 8.09 times, and the qualified institutional buyers at 0.21 times.
Oriana Power Limited IPO Details
The IPO price band for Oriana Power Limited is set between Rs 115 to Rs 118.
To participate in this IPO, investors are required to bid for a minimum lot size of 1200 shares, equivalent to an investment of at least Rs 1,41,600.
The IPO subscription window will remain open until August 3, 2023.
Impressive GMP Performance in Gray Market
Leading stockbroker reports indicate that the Oriana Power Limited IPO is gaining traction in the gray market.
As of August 1, the IPO’s Grey Market Premium (GMP) stood at an impressive Rs 103.
This exciting development is generating optimism among potential investors.
