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Fusion Klassroom Edutech SME IPO allotment set for August 5
The three day subscription ended August 4, and the company is scheduled to debut on the BSE SME platform on August 7, with refunds due on August 6.
Fusion Klassroom Edutech completed its three day subscription window for the SME IPO on August 4, with share allotment expected to be finalised on August 5, LiveMint Markets reported.
After the allotment process, the company plans to list on the BSE SME platform on August 7. Successful applicants will receive allotted shares in their demat accounts, while unsuccessful bidders are expected to get refunds on August 6.
Investors can check allotment status online via the BSE website and the IPO registrar, Maashitla Securities. The grey market indicated muted activity, with IPO GMP at ₹ 0 per share, implying an estimated listing price of ₹ 159, the IPO price.
The IPO is a ₹ 39.04 crore public issue made up of a fresh issue of 0.20 crore equity shares worth ₹ 31.63 crore and an offer for sale of 0.05 crore shares totaling ₹ 7.41 crore. LiveMint Markets also noted the IPO was subscribed 1.5 times overall, with 24.52 lakh shares bid against 16.35 lakh shares on offer, and that the company raised ₹ 11.08 crore from anchor investors by allotting 6,96,800 shares at ₹ 159 each.