Brandman Retail IPO: According to Investorgain, Brandman Retail ‘s unlisted shares are trading at a grey market premium (GMP) of Rs 15.
The initial public offer of Brandman Retail, a retail and distribution platform for premium international brands, is now open for subscription. The three-day subscription window for the Rs 86.08-crore IPO, which opened today, will conclude on February 6. According to the information available, the company’s shares will be listed on the NSE’s Emerge platform. Ahead of the IPO, the company collected Rs 24.5 crore from anchor investors. City-based company has allocated 13.92 lakh equity shares to six entities, including Sanshi Fund-I, Founders Collective Fund, Bharat Venture Opportunities Fund, and India Max Investment Fund Ltd, the company said in a statement.
Brandman Retail IPO price band
The price band of Rs 167-176 per share, aggregating to Rs 86.08 crore.
Brandman Retail IPO listing date
According to reports, the tentative listing date for the IPO is fixed on February 9.
Brandman Retail IPO lot size
The IPO has a lot size of 800 shares with a face value of Rs 10 per share.
Brandman Retail IPO subscription status
The IPO has received a tepid response from investors on day 1 and was subscribed 0.35 times at the time of writing the report. According to NSE data, the three-day IPO received bids for 786 shares against 16,76,800 shares on offer. The category for retail individual investors (RIIs) fetched 0.47 times the subscription. The quota for non-institutional investors was subscribed to 0.53 per cent.
Brandman Retail IPO GMP
According to Investorgain, Brandman Retail’s unlisted shares are trading at a grey market premium (GMP) of Rs 15. Considering the upper price band of Rs 176, the company’s shares are expected to list at around Rs 191, reflecting a grey market premium of 8.52 per cent.
Brandman Retail IPO: How the company plans to use proceeds?
Proceeds from the IPO will be utilised for the expansion of the new retail network by launching 15 exclusive brand outlets (EBOs) and multi-brand outlets (MBOs), working capital requirements for new EBOs and MBOs, working capital requirements for existing EBOs and MBOs and general corporate purposes.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
