Merritronix’s initial public offering (IPO) was fully subscribed on its first day of bidding, June 1, with strong demand from retail investors and non-institutional investors (NIIs), according to livemint.com. The IPO is priced in a band of ₹141-149 per equity share, with a face value of ₹10 each. The company has already raised ₹19.91 crore from anchor investors ahead of the public subscription.
The IPO opened on Monday, June 1, and will close on Wednesday, June 3. Merritronix set the price band between ₹141 and ₹149 per share, targeting a broad base of investors. The early subscription data showed robust interest, particularly from retail and NIIs, which contributed significantly to the full subscription on day one. The grey market premium (GMP) stood at +88, signaling positive market sentiment toward the offering.
This strong subscription reflects growing investor confidence in Merritronix’s business model and market potential. The ₹19.91 crore raised from anchor investors before the public offering helped set a positive tone. The company’s pricing strategy and investor appetite align with recent trends in the Indian IPO market, where well-positioned mid-sized companies have attracted significant retail participation. The GMP of +88 indicates expectations of a favorable listing debut.
The Merritronix IPO will continue accepting bids until June 3. Investors will be closely watching the final subscription figures and the company’s listing price once the shares debut on the stock exchange. The allotment results are expected to be announced shortly after the close of the issue, marking the next key milestone in the company’s public market journey, according to livemint.com.