Leapfrog Engineering Services IPO Opens with Mixed Investor Sentiment
Leapfrog Engineering IPO Day 1: Check GMP, subscription status, and other details
Mint
Image: Mint
Leapfrog Engineering Services has launched its initial public offering (IPO), open for subscription from April 23 to April 27, aiming to raise ₹88.51 crore (approximately $10.6 million USD). The IPO price band is set at ₹21–23 per share, but the grey market premium indicates muted investor interest.
- 01Leapfrog Engineering Services IPO aims to raise ₹88.51 crore (approximately $10.6 million USD).
- 02The IPO is priced between ₹21 and ₹23 per share, with a minimum investment of ₹138,000 for retail investors.
- 03Investor sentiment is currently muted, with a grey market premium of ₹0.
- 04The company plans to use ₹27 crore for an assembling unit and ₹36 crore for working capital.
- 05The stock is expected to list on the BSE SME platform on April 30.
Advertisement
In-Article Ad
Leapfrog Engineering Services has opened its initial public offering (IPO) for subscription from April 23 to April 27, aiming to raise ₹88.51 crore (approximately $10.6 million USD). The price band for the IPO is set between ₹21 and ₹23 per share, with a minimum investment requirement of ₹138,000 for retail investors bidding for at least 12,000 shares. The offering includes a fresh issue of 3.46 crore shares worth ₹79.60 crore and an offer for sale (OFS) of 0.39 crore shares valued at ₹8.91 crore. Investor sentiment appears muted, reflected by a grey market premium (GMP) of ₹0, indicating no additional interest over the issue price. The company plans to allocate ₹27 crore from the net proceeds to establish an assembling unit and ₹36 crore for working capital needs. The stock is set to list on the BSE SME platform on April 30.
Advertisement
In-Article Ad
The IPO could provide Leapfrog Engineering Services with essential capital to expand operations, potentially benefiting employees and stakeholders in the engineering sector.
Advertisement
In-Article Ad
Reader Poll
Are you planning to invest in the Leapfrog Engineering Services IPO?
Connecting to poll...
More about Leapfrog Engineering Services
Read the original article
Visit the source for the complete story.