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Propshop Events IPO allotment set for July 30, listing on Aug. 3
The SME IPO, which raised ₹23 crore via a fresh issue and ₹5.5 crore via an offer for sale, is expected to list on the NSE SME on Monday, Aug. 3.
Propshop Events and Exhibitions is expected to finalize its SME IPO share allotment on Thursday, July 30, after the offering concluded on Wednesday, July 29. According to LiveMint Markets, the deal saw a modest 1.5 times subscription as investors awaited allotment details once the subscription window closed.
The IPO shares are scheduled to be credited to successful bidders’ demat accounts on Friday, July 31. For investors who do not receive shares, LiveMint Markets reports that refunds are also expected to be processed on July 31.
LiveMint Markets adds that investors can check their allotment status online via the registrar’s website or through the official websites of the NSE. The shares are set to list on the NSE SME on Monday, August 3.
The issue comprised a fresh issue of 33 lakh shares to raise ₹23 crore and an offer for sale of 8 lakh shares aggregating to ₹5.52 crore. LiveMint Markets also cited market sources saying the grey market premium of Propshop shares was nil on Thursday morning, suggesting a potential listing at par with the issue price.