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The IPO of Sinores Pharmaceuticals will open on Friday and bids can be made by 24 December. In the gray market, the stocks are trading at a premium of Rs 125. The price band is ₹ 372- ₹ 391.
On January 12, the shares of the Quadrant Future IPO are trading in the gray market at a premium of Rs 145. The day of GMP allocation of this IPO was 190 rupees. The most maximum GMP of this IPO is Rs 210 while the minimum GMP is ₹ 0.
New Delhi. If you also invest money in IPO, then there is good news for you. Tomorrow i.e. on Friday, the initial public issue (IPO) of Ahmedabad -based pharmaceutical company, Sinores Pharmaceuticals will open. Retail investors will be able to bid for the shares of this IPO by Tuesday, December 24. Even before the IPO is opened, the shares of Sinores IPO are making a splash in the gray market. In the gray market, the stocks are trading at a premium of Rs 125. That is, the gray market is indicating the earnings from this IPO.
Sinores pharmaceuticals will be issued new shares of ₹ 500 crore in IPO and 21 lakh equity shares will be sold by promoters and existing shareholders through offer-for-sale (Offs). At the upper level of the price band, the company is the goal of raising ₹ 582.11 crore. The bidding process for the anchor book has started today i.e. December 19. The amount received from the IPO will be used in the company’s subsidiaries, repayment of certain borrowings, meeting working capital requirements, acquisitions and other strategic initiatives.
Reservation for investors
75% of this IPO is reserved for qualified institutional bidder (QIBS). 15% of IPOs have been reserved for non-institutional investors (NIIs) and 10% for retail investors. The book running lead manager of this IPO is Aquiras Capital, Ambit and Nuwama Wealth Management, while Link Inteime is India Registrar. The company shares will be listed on BSE and NSE on 30 December.
(Disclaimer: Investment made in IPO is subject to market risks. If you want to invest in any of these, consult the first certified Investment Advisor. News18 will not be responsible for any kind of profit or loss of you.)
