The Vegorama Punjabi Angithi initial public offering (IPO) began on Wednesday, 20 May, and will end on Friday, 22 May. Vegorama Punjabi Angithi IPO price band is set at ₹73 to ₹77 per equity share, with a face value of ₹10 per share.
Investors can bid for a minimum of 1,600 equity shares, with the option to acquire additional shares in increments of 1,600.
Vegorama Punjabi Angithi was established in March 2022 and operates in the food and beverage sector through its restaurant chain, “Punjabi Angithi.” The company focuses on providing affordable North Indian and Punjabi cuisine through a quick-service restaurant (QSR) concept. Customers can enjoy its offerings via dine-in, takeaway, and food delivery options.
The business has developed a significant footprint in urban and semi-urban areas by prioritising high-quality food at reasonable prices. To support its growth strategy, Vegorama Punjabi Angithi aims to enhance its operations by investing in new restaurant formats, centralised kitchens, and cloud kitchens.
At present, the company runs 19 cloud kitchens and two fine-dining establishments in the Delhi-NCR area.
Vegorama Punjabi Angithi IPO GMP today
Vegorama Punjabi Angithi GMP today is +5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vegorama Punjabi Angithi share price was indicated at ₹82 apiece, which is 6.49% higher than the IPO price of ₹77.
Based on grey-market activity observed over the last eight sessions, today’s IPO GMP is showing an upward trend and is anticipated to have a robust listing. The minimum GMP recorded is ₹0.00, while the maximum reaches ₹15, according to experts.
” indicates investors’ readiness to pay more than the issue price.
Vegorama Punjabi Angithi IPO details
The BSE SME offering aims to generate approximately ₹38.38 crore via a mix of new shares and an offer-for-sale segment. The initial public offering includes a fresh issuance of 39.87 lakh shares valued at about ₹30.7 crore, as well as an offer-for-sale of 9.96 lakh shares totaling ₹7.68 crore. Prior to the IPO opening, the company has successfully secured ₹10.9 crore from anchor investors.
The firm intends to use the proceeds from the IPO to fund growth strategies, including establishing new cloud kitchens, enhancing infrastructure, and improving operational capabilities.
Corporate Makers Capital is the primary book-running manager for the issue, whereas Bigshare Services serves as the registrar. Pace Stock Broking Services is serving as the market maker for the IPO.
Vegorama Punjabi Angithi IPO subscription status
Vegorama Punjabi Angithi IPO subscription status was 2.31x on day 2, so far. The retail portion was subscribed 2.55x, the NII portion was booked at 3.93x, and the Qualified Institutional Buyers (QIBs) portion received 69% bidding.
The company has received bids for 76,73,600 shares against 33,16,800 shares on offer at 11:54 IST, according to chittorgarh.com
On the first bidding day, Vegorama Punjabi Angithi IPO subscription status was 1.45x.
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