Global Markets
Home›Global Markets›Emerging Markets›Caliber Mining IPO gets 1.21x subscription on day one
Caliber Mining IPO gets 1.21x subscription on day one
The issue is priced in a ₹402-₹424 band, keeps bidding open until 21 July, and expects allotment on 22 July.
Caliber Mining and Logistics Ltds initial public offering has been subscribed 1.21 times on opening day, according to exchange data cited by LiveMint Markets, with Friday, 17 July showing the first round of bids. The IPO price band is set at ₹402-₹424 per equity share, and the company raised ₹135 crore from anchor investors ahead of the issue opening, a move the report describes as reflecting institutional interest.
Bidding will remain open until 21 July, with allotment expected to be finalised on 22 July. Refunds are likely to be initiated and shares credited to applicants demat accounts on 23 July, with the report adding that the shares are expected to list on BSE and NSE on 24 July.
On deal economics, LiveMint Markets said the grey market premium, or GMP, is +115, implying an estimated listing price of ₹539 at the top end of the price band, about 27.1% above ₹424. The report also noted the IPO received bids for 95,15,695 shares against 78,35,821 shares on offer by 17:00 IST, and that the retail and NII portions were booked at 1.58x and 1.59x respectively.