Share Samadhan IPO: Issue subscribed over 1.10 times on day 1; check subscription status, GMP, and other details | Stock Market News

Share Samadhan initial public offerings (IPO), which opened for subscription on September 9, was subscribed over 1.10 times on the first day of bidding. The small and medium enterprise (SME) IPO received 25,55,200 bids against offered 23,28,000.

Share Samadhan, formerly known as Tiger Island Hospitality Private Limited, was established in 2011. The company provides a comprehensive range of services designed to help clients safeguard and recover their investments or funds effectively. As of August 28, 2024, it employed 48 people.

Share Samadhan has allocated 50 per cent of its net offer to qualified institutional bidders (QIBs), 15 per cent to non-institutional investors (NIIs), and 35 per cent to retail investors for its IPO.

For the financial year ending March 31, 2024, the company reported a net profit of ₹3.91 crore on a revenue of ₹9.96 crore. In comparison, for the previous financial year ending March 31, 2023, the revenue was ₹2.76 crore with a net profit of ₹0.48 crore.

Share Samadhan IPO subscription status

The SME IPO received 25,55,200 bids against offered 23,28,000 on the first day of subscription on September 9. The Share Samadhan IPO was subscribed over 1.10 times, as per data available on BSE.

Retail investors showed the maximum interest as the portion received highest bid among all categories. The retail category was subscribed 2.01 times on the first day.

Meanwhile, NII category remained undersubscribed with 0.60 subscription and QIB portion was unsubscribed on Monday, September 9.

Share Samadhan IPO details

The Share Samadhan IPO consists solely of a fresh issue of 32,51,200 equity shares, each with a face value of ₹10. Through this initial stake sale, the company aims to raise a total of ₹24.06 crore. The shares are expected to be listed on the BSE SME platform.

The price band for the Share Samadhan IPO has been set between ₹70 and ₹74 per share, with a face value of ₹10 per share.

Narnolia Financial Services serves as the sole book running lead manager for the Share Samadhan IPO, with Skyline Financial Services acting as the registrar. Nikunj Stock Brokers is the market maker for the offering.

The allotment for the Share Samadhan IPO is anticipated to be finalized on Thursday, September 12. The IPO is expected to list on the BSE SME, with a tentative listing date set for Monday, September 16.

Share Samadhan IPO GMP today

The shares of Share Samadhan IPO are currently trading at a premium of ₹0 in the grey market, as per investorgain. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.