QVC Exports IPO: The initial public offering (IPO) of QVC Exports Ltd, has been closed on Friday, has received a strong response from investors. The price of the IPO has been fixed at Rs 86 per share. On the final day of bidding on Friday, the 24.07-crore SME IPO has received a 535 times subscription, garnering bids for 1,42,18,12,800 shares as against 26,57,600 shares on offer.
According to the latest data, the retail quota received a 418.64 times subscription, while the non-institutional investors category also got a 596.57 times subscription.
The QVC Exports IPO was opened for public subscription on Wednesday, August 21. Its price has been fixed at Rs 86 apiece. The share allotment will likely be finalised on August 26, while its listing will take place on the NSE SME on August 28.
QVC Exports IPO GMP Today
According to market observers, unlisted shares of QVC Exports Ltd are trading Rs 83 higher in the grey market than its issue price. The Rs 83 grey market premium or GMP means the grey market is expecting a 96.51 per cent listing gain from the public issue.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
QVC Exports IPO: More Details
The IPO is a combination of fresh issue of 20.5 lakh shares aggregating to Rs 17.63 crore and an offer for sale of 7.49 lakh shares aggregating to Rs 6.44 crore.
The minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,37,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,75,200.
Khandwala Securities Limited is the book running lead manager of the QVC Exports IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for QVC Exports IPO is Aftertrade Broking.
