Arrowhead Seperation share price makes a tepid debut, stock lists at 7.3% premium at ₹250 on BSE SME

Arrowhead Seperation Engineering IPO opened for subscription on Thursday, November 16, and closed on Monday, November 20. Arrowhead Seperation IPO’s price band was set at ₹233. Investors could bid for a minimum of 600 shares and in multiples thereof. The face value of the equity shares was ₹10 each and the issue price was 23.3 times the face value.

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Arrowhead Seperation IPO subscription status was 94.79 times on day 3. The issue received stellar response from retail investors who’s portion set was subscribed 142.30 times, and a good response from non-institutional buyers who’s portion set was subscribed 46.02 times, according to data on chittorgarh.com.

Arrowhead Seperation IPO subscription status was 10.80 times on day 1, and the issue was subscribed 31.44 times on day 2.

Also Read: Arrowhead Seperation Engineering IPO: Check latest GMP, subscription status on day 3, other key details

Arrowhead Seperation IPO details

Arrowhead Seperation Engineering IPO, which is worth ₹13 crore, is completely a fresh issue of 558,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company intends to use the net proceeds from the offering to finance the following goals: meeting working capital needs; repaying NBFC loans; and advancing general corporate purposes.

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The registrar of the Arrowhead Seperation Engineering IPO is Cameo Corporate Services Limited, while the book running lead manager is Aryaman Financial Services Limited. Aryaman Capital Markets is the market maker for the Arrowhead Seperation Engineering IPO.

As per the RHP, Arrowhead Seperation IPO listed peers are Kilburn Engineering Ltd (P/E of 26.38), and Praj Industries Ltd (P/E of 17.92).

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Arrowhead Seperation IPO GMP today

Arrowhead IPO GMP today or grey market premium was +25, ahead of listing. This indicated that Arrowhead Seperation share price were trading at a premium of ₹25 in the grey market on Tuesday, according to investorgain.com. The GMP has been the same for the last 8 sessions.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Arrowhead Seperation share price was ₹258 apiece, which is 10.73% higher than the IPO price of ₹233.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Also Read: Arrowhead Seperation IPO allotment finalised: Latest GMP, check out steps to check Arrowhead IPO allotment status

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Updated: 28 Nov 2023, 10:00 AM IST