Madhur Knit Crafts' initial public offering (IPO) has recorded a 55% subscription rate by its third day, according to livemint.com. The IPO, which opened on August 24 and runs until August 27, is priced between ₹95 and ₹100 per equity share. The allotment is scheduled for August 28, with the listing on NSE SME set for September 1.
The IPO has attracted strong retail interest, with retail investors accounting for 81% of the subscription so far, livemint.com reported. The price band was fixed at ₹95-₹100 per share, and the issue is expected to see a listing premium, with the grey market premium (GMP) indicating a potential 16% listing pop. The subscription progress suggests robust demand for the shares ahead of the closing date.
This IPO comes amid a growing trend of SME companies tapping public markets to raise capital, providing investors access to smaller firms with growth potential. Madhur Knit Crafts' pricing and subscription levels compare favorably with recent SME IPOs that have seen strong retail participation. The expected listing on NSE SME will provide liquidity and visibility for the company within the small and medium enterprise segment.
The IPO allotment will be finalized on August 28, with shares expected to debut on the NSE SME platform on September 1, as per livemint.com. Investors will watch the listing day performance closely to gauge market reception and the accuracy of the GMP indication.