Marinetrans India Limited IPO was subscribed a total of 33 times by the end of fourth day on 5th December. The retail portion was subscribed the highest 47.24 times while the NIIs portion was subscribed 18.05 times. The IPO didn’t have reservation for QIBs but the market maker portion was 5.14%. The subscription numbers exclude the market maker portion. The total numbers of applications are 23,526.
Marinetrans India Limited, the sea freight forwarding company had offered a fresh issue of 42 lakh shares to raise Rs 10.92 crore. The IPO has received bids for over 13 crore shares worth over Rs 341 crore. Although the IPO has received lesser subscription numbers compared to last week’s other SME IPOs Deepak Chemtex and AMIC Forging, it has done comparatively better than the likes of Graphisads Limited which also closed today and was subscribed only 5.52 times.
What’s Next:
- The basis of allotment for the IPO will be finalised by 8th December 2023 as per the red-herring prospectus. However, we expect the allotment to be announced sooner than that, on 7th December.
- Once the allotment is done, the refunds will be initiated on 11th December and the shares will be credited to the Demat accounts by 10th December.
- The IPO will be listed on NSE on 11th December 2023.
