Pratham EPC Projects IPO Subscribed 177.92 times

About Pratham EPC Projects IPO

Pratham EPC Projects IPO, valued at ₹ 36.00 crores, is book-built issue featuring fresh issue of 48 lakh shares. Opening for subscription on March 11, 2024, & closing on March 13, 2024, IPO aims to conclude its allotment process by Thursday, March 14, 2024. It is scheduled to list on NSE SME, targeting tentative listing date of Monday, March 18, 2024.

With price band set at ₹71 to ₹75 per share, Pratham EPC Projects IPO requires minimum lot size of 1600 shares per application. Retail investors are obliged to invest minimum of ₹120,000, while HNIs must commit to minimum of 2 lots (3,200 shares), totaling ₹240,000.

Beeline Capital Advisors Pvt Ltd leads IPO as book running manager, with Link Intime Indi Private Ltd handling registrar duties. Spread X Securities operates as designated market maker.

IPO dates are March 11-13, 2024, with listing date yet to be determined. Each share holds face value of ₹10. Total issue size comprises 4,800,000 shares, all of which are fresh issues. IPO operates under Book Built Issue category & is set to list exclusively on NSE SME.

Before IPO, company's shareholding stood at 12,960,000 shares pre-issue & is expected to reach 17,760,000 shares post-issue, with market maker portion of 240,000 shares.

IPO timeline is as follows:

IPO Opens: Monday, March 11, 2024

IPO Closes: Wednesday, March 13, 2024

Basis of Allotment: Thursday, March 14, 2024

Initiation of Refunds: Friday, March 15, 2024

Credit of Shares to Demat: Friday, March 15, 2024

Listing Date: Monday, March 18, 2024

Cut-off time for UPI mandate confirmation: 5 PM on March 13, 2024.

Investors can bid for minimum of 1600 shares & in multiples thereof. This IPO provides opportunity for investors to participate in growth journey of Pratham EPC Projects, backed by competent lead managers & supportive market maker.

Final Subscription Status of Pratham EPC Projects IPO

Here is final subscription status of Pratham EPC Projects IPO as at close on by March 13, 2024 5:15:00 PM.

Total Application: 177,972

Based on subscription status of Pratham EPC Projects, analysis reveals significant interest from various investor categories:

Anchor Investors: subscription was at par, with Anchor Investors subscribing to entire shares offered. This indicates strong initial interest & confidence from institutional investors.

Market Maker: Similar to Anchor Investors, Market Makers subscribed to entire shares offered, showcasing positive sentiment towards company's IPO.

Qualified Institutions: Qualified Institutions displayed substantial interest, oversubscribing by approximately 70 times shares offered. This reflects strong institutional demand & confidence in company's prospects.

Non-Institutional Buyers: Non-Institutional Buyers demonstrated robust interest, oversubscribing by over 320 times shares offered. This indicates significant participation from high-net-worth individuals & other non-institutional investors.

Retail Investors: Retail Investors also exhibited strong interest, oversubscribing by around 178 times shares offered. This suggests widespread retail participation & confidence in IPO.

Overall, subscription status reflects overwhelming demand across all investor categories, with total oversubscription reaching approximately 177 times shares offered. This indicates strong market sentiment & investor confidence in Pratham EPC Projects' IPO, portraying positive outlook for company's future.

Pratham EPC Projects Allocation Quota for Various Categories

Data Source: NSE

How subscription built up for Pratham EPC Projects IPO?

As of 13 mar 24, 17:21

Key Takeaways

Here are key takeaways from subscription numbers on day-wise basis for Pratham EPC Projects Ltd as of close of IPO on 13th March 2024.

• On Day 1, there was minimal interest from QIBs, moderate interest from NIIs, & healthy interest from Retail investors.
• By Day 2, there was substantial increase in subscription across all categories, with significant interest from QIBs & NIIs, & robust participation from Retail investors.
• On final day, subscription soared with overwhelming interest from all categories, particularly from QIBs & NIIs, leading to oversubscription across board.

Overall, IPO witnessed strong demand, with subscription levels indicating widespread investor interest & confidence in offering.