Suntech Infra Solutions IPO GMP Rises: Issue Receives 223.64x Subscription, Retail Gets 150.1x
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The GMP of the Suntech Infra Solutions IPO is a whopping 38.37% today, indicating strong listing gains for investors.
Suntech Infra Solutions IPO Day 3 Subscription Status, GMP Today: The Suntech Infra Solutions IPO has been closed today, Friday, June 27. The IPO, whose price was fixed at Rs 86 per share, has received an overwhelming response from investors along with a strong GMP. Till 5:00 pm on the final day of bidding on Friday, the Rs 44.4-crore NSE SME IPO received a 223.64 times subscription, garnering bids for 76,78,78,400 shares as against the 34,33,600 shares on offer.
The retail and NII participation stood at 150.10 times and 529.51 times, respectively. Its qualified institutional buyer (QIB) category got a 122.82 times subscription.
The IPO is a fresh issue of Rs 34.18 crore and an offer for sale (OFS) of Rs 10.21 crore.
It received a 4.87x subscription on Day 1 and a 19.50x subscription on Day 2.
Suntech Infra Solutions IPO GMP Today
According to market observers, the GMP of the Suntech Infra Solutions IPO is 38.37% today.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
The company's IPO will be closed today, June 27. Its allotment will take place on June 30, while shares will be listed on the NSE Emerge on July 2.
The IPO price has been fixed at Rs 86 per share. Retail investors need to apply for a minimum of one lot (1,600 shares), which requires an investment of Rs 1,29,600. However, due to the possibility of oversubscription, investors are advised to bid at the cutoff price, increasing the investment to around Rs 1,37,600. For HNI investors, the minimum application size is two lots (3,200 shares) amounting to Rs 2,75,200.
GYR Capital Advisors Private Limited is the lead manager for the issue, Mas Services Limited is the registrar, and Giriraj Stock Broking Private Limited is acting as the market maker.
Founded in April 2009, Suntech Infra Solutions Limited (SISL) is a B2B construction firm offering civil construction services such as foundation and structural works. These services are provided through direct contracts, subcontracts, and equipment rentals.
The company caters to both government and private sector clients across industries including power, oil & gas, steel, cement, renewables, refineries, petrochemicals, fertilisers, and process plants. It also undertakes infrastructure projects like bridges and irrigation systems in both rural and urban areas.
As of July 31, 2024, SISL had six active projects worth Rs 186.37 crore, supported by Letters of Allocation and Purchase Orders. As of December 31, 2024, the company's order book stood at over Rs 47 crore.
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