Gabion Technologies IPO: The initial public offering of Gabion Technologies India Ltd, a geotechnical engineering and infrastructure solutions company, has been subscribed 151.79 times so far on Wednesday, January 7.
The issue has received bids for 39,12,65,600 shares as against 36,99,98,400 shares on offer, according to the BSE data until 2:36 pm.
The quota for individual investors was subscribed 220.65 times, while the non-institutional investors' (NIIs) part was booked 179.29 times. The portion reserved for qualified institutional buyers was subscribed 2.91 times.
The ₹29.16-crore initial public offering, which will conclude on January 8, is solely a fresh issuance of 36 lakh shares. The price band has been fixed at ₹76 to ₹81 per share.
Proceeds from the fresh issue will be utilised for working capital needs, capital expenditure for the purchase of plant and machinery and corporate general purposes.
A lot consists of 1,600 shares. Individual investors can apply for at least two lots or 3,200 shares.
Gabion Technologies IPO: Allotment and listing date
| Event | Date |
|---|---|
| Subscription period | January 6 to January 8 |
| Basis of allotment | January 9 |
| Initiation of Refunds | January 12 |
| Credit of Shares to Demat | January 12 |
| Listing date on BSE SME | January 13 |
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Gabion Technologies India makes, designs, and installs services of rockfall protection nettings, gabions, and geosynthetic materials needed for infrastructure development and environmental protection projects. It manufactures and supplies mechanically woven double-twisted hexagonal steel wire mesh gabions, PP rope gabions, defence gabions, high-tensile rockfall protection nettings, high-strength flexible geogrid and rockfall fence/barrier-reinforced geomat.
Before the IPO, the company raised ₹8.2 crore from anchor investors, including HDFC Bank, Neo Asset Management, 360-ONE group, Vorton Opportunities Fund, Vikasa India EIF I Fund Incube Global Opportunities, Tiger Strategies Fund-I, Master Growth 369 and SB Opportunities Fund-II.
Gabion Technologies IPO GMP
According to media reports and investorgain.com, unlisted shares of Gabion Technologies India are trading at ₹111, reflecting a grey market premium of 37.04%, or ₹30, over the upper price band of ₹81.