Euphoria Infotech India is a company that is selling shares to the public for the first time. This process is called an IPO (Initial Public Offering).
The IPO opened on Friday, January 19, 2024, and will close on January 23, 2024. People can subscribe to buy shares during this time.
The company will decide who gets how many shares on January 24, 2024, and the shares will start trading on the stock market on January 29, 2024.
The company is based in Kolkata and provides IT and ITES solutions.
Here are some details about how much people have subscribed to the IPO so far:
1) On the second day, the IPO was subscribed 24.62 times.
2) In the retail category (individual investors), it was subscribed 61.05 times.
3) In the QIB (Qualified Institutional Buyers) category, it was subscribed 0.22 times.
4) In the NII (Non-Institutional Investors) category, it was subscribed 21.01 times.
The company is offering 9.6 lakh new shares at a price between ₹96 to ₹100 per share.
The smallest amount one can buy (lot size) is 1200 shares, and for retail investors, the minimum investment is ₹120,000.
For HNIs (High Net Worth Individuals), the minimum investment is 2 lots (2,400 shares), amounting to ₹240,000.
Qualified institutional investors can bid for a maximum of 912,000 shares.
The company’s shares are currently trading at a premium of Rs 80 in the gray market.
This suggests that when the shares are listed on the stock market, they might have a premium of Rs 180.
This means investors could potentially make a profit of 80% on the very first day.
Euphoria Infotech India Limited was established in 2001 in Kolkata, West Bengal.
SHAMBA BHANJA is the promoter and managing director of the company. It is an IT company.
