Effwa Infra & Research IPO: Issue subscribed over 162 times so far on last day; Check GMP, other key details of SME IPO

Effwa Infra and Research IPO: The initial public offering (IPO) of Effwa Infra and Research Ltd has been receiving strong demand from investors. Effwa Infra and Research IPO is an SME IPO which opened on July 5.

Effwa Infra & Research is an engineering, consulting, procurement, construction and integrated project management services company. 

Effwa Infra IPO closes today, July 9.

Let us check Effwa Infra IPO GMP, subscription status and other key details.

Effwa Infra and Research IPO Subscription Status

Effwa Infra & Research IPO has been subscribed 162.08 times so far on July 9, the third and the last day of the bidding process. The public issue received bids for 67.73 crore shares as against 41.79 lakh shares on the offer, as per data available till 2:00 pm.

The IPO has been subscribed 214.22 times in the retail category, 35.12 times in the Qualified Institutional Buyers (QIB) category and 204.75 times in the Non-Institutional Investors (NII) category so far.

Effwa Infra IPO GMP

Effwa Infra IPO GMP today, or grey market premium today, increased to ₹120 per share, according to stock market observers. This indicates that the equity shares of Effwa Infra and Research are trading at ₹202 apiece in the grey market, a premium of nearly 147% to the issue price of ₹82 per share.

Effwa Infra and Research IPO Details

Effwa Infra and Research IPO opened for subscription on Friday, July 5, and closes today , July 9. The IPO allotment is expected to be finalized on July 10, and the listing date is July 12. Effwa Infra and Research shares will be listed on NSE SME.

Effwa Infra IPO price band is set at ₹78 to ₹82 per share. At the upper-end of the price band, the company aims to raise ₹51.27 crore from the book-built issue which is a combination of fresh issue of 53.17 lakh equity shares worth ₹43.60 crore and an offer-for-sale (OFS) of 9.36 lakh shares worth ₹7.68 crore.

Ahead of the IPO opening Effwa Infra and Research raised ₹14.34 crore from anchor investors.

The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹131,200.

Shreni Shares Limited is the book running lead manager of the Effwa Infra and Research IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

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