Medicamen Organics shares make a bumper debut; list with 305% premium at ₹137.85 on NSE SME

Medicamen Organics IPO listing was stronger than the marketplace expectations. Medicamen Organics IPO GMP contiguous up of the listing was ₹70 per share, indicating a listing premium of much than 205%.

The archetypal nationalist offering (IPO) of pharmaceutical dosages shaper Medicamen Organics Ltd was launched connected June 21 and the bidding ended connected June 25. Medicamen Organics IPO allotment was fixed connected June 26 and the listing day is June 28.

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Medicamen Organics IPO terms set was acceptable astatine ₹32 to ₹34 per share. At the upper-end of the terms band, the institution raised ₹10.54 crore from the book-built contented which was wholly a caller contented of 31 lakh equity shares.

Medicamen Organics IPO saw a monolithic request from investors crossed the committee arsenic the contented was subscribed by 993.56 times successful total. 

The nationalist contented was subscribed 1,309.77 times successful the retail category, 173.03 times successful the Qualified Institutional Bidders (QIB) category, and 1,343.83 times successful the Non-Institutional Investors (NII) category.

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The institution proposes to utilize the nett contented proceeds for backing of expenses projected to beryllium incurred towards Product registration successful the planetary markets, works updation and summation successful accumulation capacity, backing moving superior requirements and wide firm purposes.

GYR Capital Advisors Private Limited is the publication moving pb manager of the Medicamen Organics IPO, portion Kfin Technologies is the IPO registrar. 

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Published: 28 Jun 2024, 10:01 AM IST