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Purv Flexipack IPO listing: 266% premium over issue price. Check details here
Purv Flexipack IPO listing: Purv Flexipack IPO opened for subscription on February 27 and closed on February 29.
Purv Flexipack IPO listing: Purv Flexipack share price had a listing with 266% premium over the issue price, at ₹266 a piece on the NSE SME. The initial public offering received a strong response as it was subscribed 421.78 times.
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In the retail category, the public issue was subscribed 448.73 times while it was subscribed 157.32 times in the QIB and 690.72 times in the NII category.
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In the Grey market premium, the IPO stood at ₹130- trading at a premium of ₹130 over the issue price in the grey market, as per investorgain.com. Owing to this, Purv Flexipack IPO was expected to list at ₹201 apiece- 183.10% higher than the IPO price of ₹71.
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Purv Flexipack IPO details
Purv Flexipack IPO opened for subscription on February 27 and closed on February 29. The price band had been set in the range of ₹70 to ₹71 apiece of face value of ₹10 each while the lot size was 1,600 shares. The ₹40.21 crore IPO comprised of a fresh issue of 56,64,000 equity shares with a face value of ₹10 without an offer-for-sale component.
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Purv Flexipack IPO: Company objectives
Net proceeds from the IPO will be used by the company to finance working capital needs, general corporate purposes and repaying certain current fund-based borrowing, it said.
