QVC Exports Ltd, a leading player in the SME sector, has launched its initial public offering (IPO), which is set to close today, August 23, 2024. The IPO has attracted significant attention from investors, resulting in a remarkable subscription rate and a noteworthy grey market premium. Here’s an in-depth look at the IPO’s performance, key details, and market sentiments.

Subscription Status

On the final day of bidding, the QVC Exports IPO has experienced an extraordinary level of interest. By 3:24 pm today, the IPO was oversubscribed by an impressive 442.87 times. This indicates a highly enthusiastic response from investors, underscoring the strong market confidence in the company’s prospects.

i. Retail Quota: The portion reserved for retail investors has been oversubscribed 367.32 times.

ii. Non-Institutional Investors (NIIs): The NII segment has received a 483.83 times subscription.

This overwhelming subscription rate reflects robust investor demand and suggests a high level of confidence in QVC Exports Ltd's future performance.

IPO Pricing and Grey Market Premium

The IPO price has been set at ₹86 per share. The grey market, where shares are traded unofficially before listing, has shown a premium of ₹83 per share. This translates to a 96.51% expected gain from the issue price, indicating that market participants anticipate a significant positive movement in share prices upon listing.

The grey market premium (GMP) is an important indicator of market sentiment and investor expectations. The current GMP suggests a strong belief in the IPO’s potential for post-listing gains.

IPO Details

* IPO Opening Date: August 21, 2024

* IPO Closing Date: August 23, 2024 (today)

* Price Band: ₹86 per share

* Total Issue Size: ₹24.07 crore, comprising:

* Fresh Issue: 20.5 lakh shares aggregating to ₹17.63 crore

* Offer for Sale: 7.49 lakh shares aggregating to ₹6.44 crore

* Lot Size and Investment

* Minimum Lot Size: 1,600 shares

* Retail Minimum Investment: ₹1,37,600

* HNI Minimum Investment: ₹2,75,200 (2 lots or 3,200 shares)

This structure allows a wide range of investors to participate, with different investment thresholds for retail and high-net-worth individuals.

Use of Funds

The proceeds from the IPO will be utilized for various purposes, including:

* Expansion: Financing the company’s growth and operational needs.

* Debt Repayment: Reducing existing financial liabilities.

* Working Capital: Supporting day-to-day business operations.

* General Corporate Purposes: Covering additional expenses related to the public issue and other corporate needs.

IPO Management

i. Book-Running Lead Manager: Khandwala Securities Limited is overseeing the IPO process.

ii. Registrar: Cameo Corporate Services Limited is responsible for managing IPO applications and allotments.

iii. Market Maker: Aftertrade Broking will facilitate liquidity and smooth trading of shares post-listing.

Company Overview

QVC Exports Ltd is a prominent player in the export sector, specializing in a diverse range of products. The company’s strong market position and operational efficiency have contributed to the robust interest in its IPO.

Conclusion

The QVC Exports IPO has attracted exceptional investor interest, with a remarkable subscription rate and a significant grey market premium. As the IPO closes today, the market will be keenly watching the allotment process and the upcoming listing on the NSE SME platform. The substantial oversubscription and positive market sentiments indicate a strong start for QVC Exports Ltd in its public market journey.

Also Read : Resourceful Automobile IPO Oversubscribed 25 Times on Day 2: Key Details and Subscription Status

Check latest IPO Review & analysis, Live GMP today, Live Subscription Status Today, Share Price, Financial Information, latest IPO news, Upcoming IPO News before applying in the IPO. The Upcoming IPOs in this week and coming weeks are Indian Phosphate Limited. The current active IPO is Rapid Multimodal Limited, Resourceful Automobile Limited, Ideal Technoplast Industries Limited, QVC Exports Lmited, Orient Technologies Limited.

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