Price range for the Goyal Salt IPO is set at 36 to 38 rupees per share. The IPO lot size is 3,000 shares, and retail investors must invest at least 114,000 in order to participate.
Goyal Salt IPO: On September 26, public subscription for the initial public offering (IPO) of Goyal Salt Ltd, a producer and refiner of raw salts, began. The Goyal Salt IPO is a book-built issue and a SME IPO.
Raw salts obtained from subsoil brine are refined by Goyal Salt Ltd, a company situated in Rajasthan and utilised for both industrial and dietary salt purposes.
The business also manufactures and provides industrial salt to the chemical, textile, and dyeing sectors, as well as the soap and detergent and chemical industries. Additionally, it provides industrial salts to businesses that make leather, rubber, polyester, plastics, glass, and rubber.
Let's look at the Goyal Salt IPO subscription status, GMP, and other important information.
Details of the Goyal Salt IPO
In the amount of 18.63 crores, the Goyal Salt IPO is a book-built issue. 49.02 lakh new shares are being issued in its entirety.
The subscription period for the initial public offering (IPO) of Goyal Salt began on September 26 and ends on September 29.
The company anticipates completing the basis for the first public offering allocation on October 5, starting the refund process on October 6, and crediting the shares to eligible allottees' demat accounts on October 9.
On October 10, a prospective listing date has been set for the Goyal Salt shares on the NSE SME.
The fixed price range for the Goyal Salt IPO is 36 to 38 rupees per share. The minimum investment for regular investors is 14,000, and the IPO lot size is 3,000 shares.
The total amount of the Goyal Salt IPO issue, which totals 18.63 crore, is made up of a brand-new issuance of 49.02 lakh shares. Each Goyal Salt share is worth 10 at face value.
Prior to the IPO opening on September 25, the company raised 5 crore from anchor investors.
Bigshare Services Pvt Ltd is the IPO registrar, while Holani Consultants Pvt Ltd is the book running lead manager of the Goyal Salt IPO.
The company has set aside 35% of the offer for retail investors, 15% for non-institutional investors, and 50% for qualified institutional buyers (QIB) in the IPO.
The subscription status of the Goyal Salt Initial Public Offering
Investor demand for the Goyal Salt IPO has been quite strong, since it was immediately oversubscribed. On Tuesday, the first day of the bidding process, the Goyal Salt IPO has been subscribed a total of 3.43 times. As of 1:05 p.m., bids for the public offering totaled 1.11 crore equity shares, compared to the 32.49 lakh shares that were up for sale.
The public issue has so far received 5.75 subscriptions in the retail category and 2.37 subscriptions in the NII category. QIBs have not yet made any bids.
IPO GMP Today for Goyal Salt
According to IPOWatch, the grey market premium for the Goyal Salt IPO today is $20 per share. The grey market implies that Goyal Salt shares are trading higher on the grey market by 20 rupees above their issue price.
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