When did the Grover Jewells IPO open for bidding and what was its subscription status?

The Grover Jewells IPO opened for bidding on January 28 and was fully subscribed, indicating strong investor interest.

How did different investor segments respond to the Grover Jewells IPO?

Non-institutional investors showed strong interest, with their portion booked 2.46 times, and retail investors also participated enthusiastically, subscribing their quota 1.11 times.

What is the proposed listing date and location for the Grover Jewells SME IPO?

The Grover Jewells SME IPO is proposed to list on NSE SME on Wednesday, February 11.

Home / Business and Economy / Grover Jewells IPO Fully Subscribed Amidst Strong Investor Interest

Grover Jewells IPO Fully Subscribed Amidst Strong Investor Interest

4 Feb

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Summary

Grover Jewells IPO opened on January 28 and is fully subscribed.
Non-institutional investors and retail investors showed strong interest.
The company will use IPO proceeds for working capital and general purposes.

Grover Jewells IPO Fully Subscribed Amidst Strong Investor Interest

Grover Jewells' initial public offering (IPO) opened on January 28 and has successfully achieved full subscription, demonstrating robust investor interest. The total issue was subscribed 1.08 times, with notable enthusiasm from institutional investors.

Breaking down the subscription, non-institutional investors showed exceptional demand, booking their allocated portion at 2.46 times. Retail investors also participated actively, with their quota subscribing 1.11 times. The Qualified Institutional Buyer (QIB) portion was not yet open for bidding at the time of reporting.

The company plans to allocate the net proceeds raised from this IPO towards meeting its working capital requirements and for general corporate purposes. The IPO has a lot size of 3,200 shares, requiring a minimum investment of ₹2.81 lakh for retail investors.