Investors are flocking to Kalyani Cast Tech’s IPO, with over 5 times oversubscription on the opening day.
Priced at Rs 137-139, the IPO is open for subscription from November 8 to November 10. Gray market enthusiasm is evident, trading the company’s shares at a hefty 35% premium.
Anticipated Listing at Rs 190
Kalyani Cast Tech shares, currently commanding a gray market premium of Rs 50, may hit the market at around Rs 190.
If allotted at the upper price band of Rs 139, investors stand to gain over 35% on the first day.
The IPO’s share allotment finalizes on November 16, with listing expected on November 21 on the BSE SME platform.
Robust Subscription Figures
Day one saw Kalyani Cast Tech IPO subscribed 5.78 times, with retail investors leading the charge at 7.80 times subscription.
Non-Institutional Investors (NII) showed a strong interest, subscribing 4.05 times, while Qualified Institutional Buyers (QIB) subscribed 3.52 times.
Accessible for Retail Investors
Retail investors can participate with just 1 lot, equivalent to 1000 shares, requiring an investment of Rs 139,000. The IPO’s total size stands at Rs 30.11 crore.”
