Vinit Mobile IPO: The initial public offering (IPO) of Vinit Mobile Ltd opened for public subscription on Tuesday. The company is a multi-brand mobile retailer, operating 35 company-owned and company-operated (COCO) retail stores across the Surat district.
The bidding for the began on June 30, Tuesday, and will close on July 2, Thursday. The IPO allotment is expected to be finalized on July 3, Friday, while the IPO listing date is July 7, Tuesday. Vinit Mobile shares will be listed on the NSE SME platform.
Vinit Mobile IPO price band is set at ₹150 to ₹158 per share. The IPO lot size is 800 shares, and the minimum investment amount required by a retail investor is ₹2,52,800. The company aims to raise ₹34.13 crore from the book-building issue, which is entirely a fresh issue of 21.60 lakh equity shares.
Comfort Securities Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar.
Vinit Mobile IPO Subscription Status
Vinit Mobile IPO has been subscribed 2% so far till 11:20 AM on June 30, the first day of the bidding process, NSE data showed. The public issue was booked 3% in the Retail Individual Investors category, and 1% in the Non-Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIB) are yet to bid for the SME IPO.
Vinit Mobile IPO GMP Today
The trends for Vinit Mobile shares in the unlisted market remains positive, with a strong grey market premium (GMP). Vinit Mobile IPO GMP today is ₹30 per share, according to the websites tracking the grey market. This indicates that in the grey market, Vinit Mobile shares are trading higher by ₹30 than their IPO price.
Vinit Mobile IPO GMP today signals that the estimated price of the stock would be ₹188 apiece, which is at a 19% premium to its issue price of ₹158 per share.