Another new public issue has opened in the stock market from today. The IPO of Eppeltone Engineers Limited will be available for subscription from June 17 to June 19. The company aims to raise Rs 43.96 crore from this book building issue. This IPO has a fresh issue of 34.34 lakh shares. Let us tell you about its price band, lot size and gray market premium of this IPO…
Price band and lot size
The price band of the IPO of Appletone Engineers Limited is Rs 125 to Rs 128 per share. The minimum lot size for investment in this public issue has been kept at 1000 shares. In such a situation, a retail investor will have to invest at least Rs 1,25,000 to buy one lot, whereas with the higher price band this amount will be Rs 1,28,000.
50% of the IPO of Appleton Engineers Limited is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.
Strong jump in GMP
As soon as this IPO opened, its grey market premium is seen at Rs 63. In such a situation, with a profit of Rs 63 per share, its listing can be at a premium of 49% over the issue price. However, this price related to the grey market is based only on possibilities.
What is the business of the company
Appleton Engineers Limited is an Indian company founded in the year 1977. The company manufactures electronic energy meters. Apart from this, the company’s product portfolio includes UPS systems and high-grade chargers, among other products.