The initial public offering of NeoPolitan Pizza and Foods Ltd. will close on Friday, October 4. The public offering price of the Rs 12-crore SME IPO has been set at Rs 20 per share.
On Thursday, the third day of bidding, the SME IPO received bids for 4,44,54,000 shares, as opposed to the 57,00,001 shares that were offered, with a 7.80 times subscription rate until 02.30 p.m.
The retail individual investor (RII) portion received 14.12 times as many subscriptions, compared to 1.48 times as many subscriptions for the non-institutional investor category.
Price band and minimum bid
NeoPolitan Pizza and Foods is offering its IPO at a price of Rs 20 per share. To submit an application, retail investors must have a minimum lot size of 6000 shares and invest a minimum of Rs 1,20,000.
The minimum investment amount for HNIs is two lots, or 12,000 shares, for a total of Rs 2,40,000.
Subscription and listing timetable
The NeoPolitan Pizza and Foods IPO share allotment status is expected to be finalised on October 7.
Successful bidders’ shares will be credited to their demat accounts upon finalisation, and unsuccessful bidders’ refunds will be processed by October 8th. On October 9th, NeoPolitan Pizza and Food Limited’s shares are expected to go public on the BSE SME platform.
GMP of IPO
According to chittorgarh.com, that+ unlisted shares of NeoPolitan Pizza and Foods Ltd are trading at Rs 20, which is the same price as the company’s issue price. As a result, there is no GMP. No listing gains from the IPO are indicated by the zero GMP.
Exciting news! NeoPolitan Pizza and Foods IPO opens on Sept 30, 2024! Offering growth in the restaurant & agricultural sectors.
Price: ₹20/share ️ Closes: Oct 4, 2024
Check out the full blog for all the details below! #IPO #StockMarket #Investment pic.twitter.com/KxV6UUekBK
— Stratzy (@Stratzy_HQ) September 27, 2024
Use of net IPO proceeds
With the funds it has raised, the company hopes to pay for ongoing business operations, expand its retail presence, and cover overhead costs like rent and security deposits. As a result, the company’s revenue and market share will both increase.
Registrar and book-running lead manager
In the NeoPolitan Pizza and Foods IPO, Bigshare Services Private Limited is the registrar, and Turnaround Corporate Advisors Private Limited is the bookrunning lead manager. For NeoPolitan Pizza and Foods IPO, Mnm Stock Broking is the market maker.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
