Storage Technologies share price lists with stellar premium of 90% at ₹148.20 on the BSE SME

Storage Technologies and Automation Ltd IPO besides referred arsenic Racks & Rollers IPO saw beardown subscription indicating towards keen capitalist involvement arsenic the connection was subscribed 278.82 times  with retail information being subscribed 242.74 times. 

The Storage Technologies and Automation IPO GMP, besides known arsenic the grey marketplace premium, stood astatine +60. This indicated that the Storage Technologies and Automation stock was selling for a premium of ₹60 connected the Grey market, according to investorgain.com.

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Considering the precocious extremity of the IPO pricing scope and the existing premium connected the grey marketplace being taken into consideration, Storage Technologies and Automation shares besides referred to arsenic Racks & Rollers shares were expected to database astatine ₹138 per share, which is 76.92% much than the IPO terms of ₹78.

Storage Technologies and Automation Ltd IPO besides referred arsenic Racks & Rollers IPO started successful Monday 30 April 2024 and closed connected 3 May 2024. 

The Storage Technologies and Automation IPO, besides referred arsenic the Racks & Rollers IPO, is simply a caller offering of 38,40,000 equity shares with a look worth of ₹10, and it is valued astatine astir ₹29.95 crore.

Storage Technologies and Automation IPO besides referred arsenic Racks & Rollers IPO terms set had been acceptable successful the scope of ₹73 to ₹78 per equity stock of look worth of ₹10 each.

There is nary offer-for-sale information  in the IPO.

The proceeds of the contented volition beryllium utilized by Storage Technologies and Automation to conscionable their moving superior needs arsenic good arsenic for wide firm purpose.

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Storage Technologies uses a racking method for storage, according to the Red Herring Prospectus (RHP).The institution specializes successful metallic retention rack design, fabrication, and installation successful summation to automated warehouses and different retention solutions.

The institution offers a assortment of products and services that show their dedication to providing innovative, applicable solutions for a scope of warehousing needs. These industries see lipid and gas, automotive components and aerospace, nutrient and beverage, pharmaceutical, textile, retail, fast-moving user goods (FMCG), and others. These industries person unsocial retention and logistical needs that indispensable beryllium met.

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Published: 08 May 2024, 10:02 AM IST