Effwa Infra and Research IPO has been highly oversubscribed on its first day of bidding, driven by strong demand. The IPO, which opened on July 5 and closes on July 9, is a book-built issue. The company offers engineering, consulting, procurement, construction, and project management services.
As of July 5, the IPO has been subscribed 9.33 times overall, with the retail category oversubscribed by 16.35 times and the Non-Institutional Investors (NII) category by 5.20 times.
The grey market premium (GMP) for Effwa Infra IPO is ₹90 per share, implying a trading price of ₹172 per share, a significant premium over the issue price of ₹82 per share.
Effwa Infra aims to raise ₹51.27 crore through its IPO, comprising a fresh issue of 53.17 lakh shares and an offer-for-sale (OFS) of 9.36 lakh shares. The IPO lot size is 1,600 shares, requiring a minimum investment of ₹131,200 for retail investors.
The IPO allotment is expected by July 10, and the listing on NSE SME is scheduled for July 12.
