Goyal Salt IPO Day 4: Issue subscribed 101 times so far; retail portion booked over 164x

Goyal Salt Ltd is a Rajasthan-based refiner of raw salts procured from subsoil brine, used as industrial salts and edible salts.

The company also produces and supplies industrial salt for soap and detergent industries, chemical industries and textile and dyeing industries. It also supplies industrial salts to industries producing glass, plastics, rubber, polyester and leather.

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Let us take a look at Goyal Salt IPO subscription status, GMP and other key details.

Goyal Salt IPO Subscription Status

Goyal Salt IPO has received stellar demand from investors as the issue has been subscribed 101.07 times in total so far on Friday, the fourth day of the bidding process. The public issue received bids for 32.83 crore equity shares as against 32.49 lakh shares on the offer, as per data available till 3:34 pm.

The public issue has been subscribed 164.59 times in the retail category and 75.47 times in the NII category. The QIB quota was booked 4.29 times.

Goyal Salt IPO GMP Today

Goyal Salt IPO GMP today, or grey market premium today, has dropped to ₹20 per share from ₹25 per share on Thursday, as per IPOWatch. The grey market suggests that Goyal Salt shares are trading higher by ₹20 than their issue price, in the grey market.

The GMP today indicates a premium of 52.63% to the issue price.

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Goyal Salt IPO Details

Goyal Salt IPO is a book built issue of ₹18.63 crore. The issue is entirely a fresh issue of 49.02 lakh shares. The IPO opened for subscription on Tuesday, September 26, and will close on Tuesday, October 3. 

The company is expected to finalise the basis of IPO allotment on October 6 and initiate refunds on October 9, while credit the shares to the demat accounts of eligible allottees on October 10.

Goyal Salt shares are proposed to be listed on NSE SME with a tentative listing date fixed on October 11.

Goyal Salt IPO price band is fixed at ₹36 to ₹38 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹114,000.

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The Goyal Salt IPO issue size is ₹18.63 crore which entirely comprises a fresh issue of 49.02 lakh shares. The face value of each Goyal Salt share is ₹10 apiece.

The company has already raised ₹5 crore from anchor investors on September 25, ahead of the IPO opening.

The book running lead manager of the Goyal Salt IPO is Holani Consultants Pvt Ltd, while Bigshare Services Pvt Ltd is the IPO registrar.

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Updated: 29 Sep 2023, 03:49 PM IST