Value 360 Communications IPO: 77% Subscribed on Day 3 with No Grey Market Premium
Value 360 Communications IPO Day 3: Issue booked 77% so far. Check GMP, issue details, more
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The Value 360 Communications initial public offering (IPO), which runs from May 4 to May 6, has seen a subscription rate of 77% on its third day. The IPO price is set between ₹95 and ₹98 per share, with shares expected to list on the NSE Emerge Platform on May 11.
- 01Value 360 Communications IPO subscription reached 77% on Day 3.
- 02Retail investors subscribed at 33%, while non-institutional investors at 83%.
- 03The grey market premium is currently ₹0, indicating no premium or discount.
- 04The IPO consists of 42.5 lakh equity shares, with 38.3 lakh new shares for sale.
- 05Proceeds will fund working capital, technology investments, and debt repayment.
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The Value 360 Communications initial public offering (IPO) commenced on May 4 and will conclude on May 6, 2023. The price band for the IPO is set between ₹95 and ₹98 per share, with a face value of ₹10. As of the third day, the IPO has been 77% subscribed, with the retail portion at 33% and the non-institutional investor (NII) portion at 83%. The grey market premium (GMP) is currently ₹0, indicating that shares are trading at the issue price without any premium or discount. The company is offering 42.5 lakh equity shares, with 38.3 lakh being new shares for sale. The proceeds from the IPO will be used for working capital, infrastructure investments, repayment of debts, and funding an influencer marketing platform. The allocation of shares is expected on May 7, with the listing scheduled for May 11 on the NSE Emerge Platform.
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The successful subscription of the IPO could enhance Value 360 Communications' market presence and financial stability, potentially benefiting employees and stakeholders.
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