Gajanand International IPO Subscription Status

Gajanand International's initial public offering (IPO) has garnered moderate investor interest, with subscription rates climbing steadily over the three days. Starting modestly on day one, the IPO witnessed a gradual increase in demand, resulting in a 7.18 times oversubscription by the close of day three. This response underscores the market appetite for Gajanand International's shares and sets the stage for its upcoming listing.

The IPO, which opened on 9th September 2024, has seen increasing investor participation in the Retail and Non-Institutional Investors (NII) categories. The Retail segment, in particular, has shown strong demand, while the NII category has also demonstrated growing interest. The given data did not provide information on Qualified Institutional Buyers' (QIB) participation.

This response to Gajanand International IPO comes amid the current sentiment in the Indian stock market, particularly towards companies in the cotton production sector. The company's focus on producing contamination-free and sustainable cotton appears to have attracted the attention of retail investors looking for exposure to India's agricultural and textile industries.

Subscription Status of Gajanand International IPO for Days 1, 2, and 3:

On day 1, Gajanand International IPO was subscribed 1.03 times. By the end of day 2, the subscription status had risen to 4.43 times; on day 3, it reached 7.18 times.

Here are the subscription details for Gajanand International IPO as of Day 3 (11th September 2024 at 11:51:03 AM):

Total Applications: 11,516

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• ** The portion of anchor investors (or market makers) is not included in the total number of shares offered.
• *** Market Maker portion is not included to NII/HNI.

Key Highlights:

• The IPO of Gajanand International is currently subscribed 7.18 times, with strong demand from Retail Individual Investors (RII).
• Retail investors have shown exceptional interest, with a subscription ratio of 12.68 times.
• Non-Institutional Investors (NII) have demonstrated moderate enthusiasm, with a subscription ratio of 1.68 times.
• The overall subscription trend shows a steady increase day-on-day, indicating growing investor confidence towards the issue, particularly among retail investors.

Gajanand International IPO - Day 2 Subscription at 4.43 Times

Key Highlights:

• On Day 2, Gajanand International's IPO was subscribed 4.43 times, with strong demand from Retail Individual Investors (RII).
• Retail investors showed increased interest with a subscription ratio of 7.93 times, more than quadrupling their subscription from the previous day.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 0.92 times.
• The overall subscription trend indicated building momentum, with both retail and NII categories showing increased participation.

Gajanand International IPO - Day 1 Subscription at 1.03 Times

Key Highlights:

• The IPO of Gajanand International was subscribed 1.03 times on Day 1, with initial demand primarily from Retail Individual Investors (RII).
• Retail investors showed early interest with a subscription ratio of 1.88 times, indicating positive sentiment among individual investors.
• Non-Institutional Investors (NII) showed limited initial interest with a subscription ratio of 0.17 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Gajanand International Ltd:

Gajanand International Limited, founded in 2009 (formerly known as Gajanand Cottex Private Limited), is engaged in the production of contamination-free and sustainable cotton.

Key features of Gajanand International:

• Product portfolio includes Mech1 cotton, Shankar6 cotton, DCH 32 cotton, and Khol
• Installed capacity of 37,500 MT/year
• Location advantage: Raw material harvesting nearby/easy availability and readily available transportation
• Increasing scalability and self-consumption capabilities
• 22 employees as of 31st March 2024

Read about Gajanand International IPO

Highlights of the Gajanand International IPO:

• IPO Date: 9th September 2024 to 11th September 2024
• Listing Date: 16th September 2024 (Tentative)
• Face Value: ₹10 per share
• IPO Price: ₹36 per share
• Lot Size: 3000 Shares
• Total Issue Size: 5,736,000 shares (aggregating up to ₹20.65 Cr)
• Fresh Issue: 5,736,000 shares (aggregating up to ₹20.65 Cr)
• Issue Type: Fixed Price Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Fast Track Finsec Pvt Ltd
• Registrar: Skyline Financial Services Private Ltd
• Market Maker: Nikunj Stock Brokers