Maitreya Medicare Ltd IPO begins on October 27, 2023 and ends on November 1, 2023. It’s a book-built issue with a face value of 10 per share. The IPO price range is ₹78 to ₹82 cents per share, with the final price determined later during the book-building process. There are no existing shares for sale in this IPO.
Maitreya Medicare Ltd will offer 18,16,000 shares (18.16 lakhs). At the upper price of ₹82 per share, this will raise ₹14.89 crore. Since there’s no offer for sale, Maitreya Medicare Ltd IPO total IPO size is 18.16 lakh shares, which, at ₹82 per share, adds up to ₹14.89 crore.
Maitreya Medicare Limited IPO
|Maitreya Medicare Limited IPO (Overview)|
|Maitreya Medicare Limited IPO Opening Date||27 October 2023|
|Maitreya Medicare Limited IPO Closing Date||01 November 2023|
|Issue Size||18,16,000 Shares Worth ₹14.89 Crore|
Fresh Issue: 18,16,000 Shares Worth ₹14.89 Crore
|Face Value||₹10 per equity share|
|Maitreya Medicare Ltd. IPO Price||₹78 – ₹82|
|Listing At||NSE SME|
|Market Lot||1600 Shares|
|Min Order||1600 Shares (1 Lot)|
|QIB Shares Offered||50%|
|NII (HNI) Shares Offered||15%|
|Retail Shares Offered||35%|
Like most SME IPOs, Maitreya Medicare’s IPO includes a market-making allocation of 1,08,800 shares. Giriraj Stock Broking Private Ltd is the market maker, ensuring post-listing liquidity and cost-effectiveness. After the IPO, the promoter’s stake will decrease from 100.00% to 73.20%.
Maitreya Medicare Ltd will use the funds raised to invest in its subsidiary, Maitreya Hospitals Private Ltd, as well as to pay off NCDs. Working capital and general expenses will also be covered by some of the funds. The IPO’s lead manager is GYR Capital Advisors Private Ltd, and the registrar is Link Intime India Private Ltd.
GMP Price of Maitreya Medicare Limited 2023
The grey market price (GMP) trading usually begins around 4-5 days before the IPO opens and continues until the listing date. For Maitreya Medicare Ltd, we’ve got GMP data for the last 4 days, which should give us a good idea of the expected listing price.
The GMP is affected by two factors. First, market conditions are important, particularly how much money is moving around in the market. Second, the level of interest in the IPO, as indicated by the number of subscribers, influences the GMP. GMP can even be negative, indicating that the stock will be listed at a lower price than the IPO price.
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It’s important to note that GMP isn’t an official price but more like an informal one. However, in most cases, it gives a pretty good estimate of how much people want the IPO and what might happen when it’s listed. So, it’s a useful indicator of the IPO’s potential.
How has the GMP performed over the past few days?
The GMP (Growth Market Premium) for Maitreya Medicare Ltd over the last four days indicates a significant increase in the grey market premium from around ₹30 to ₹50. However, the actual subscription numbers will be needed once the IPO opens on 27th October 2023.
In the past, oversubscription has led to increased grey market prices. The GMP suggests a likely listing price of around ₹124 per share on 23rd October 2023, considering the highest IPO price of ₹82 per share.
However, this can change, so it’s important to monitor subscription updates. With a GMP of ₹42 on the fixed IPO price of ₹82, Maitreya Medicare Ltd is heading for a 51.22% premium over the IPO issue price, indicating an expected listing price of around ₹124 per share when Maitreya Medicare Ltd lists on 9th November 2023. The GMP trend is more important than specific numbers for understanding the listing status.
Steps to apply for Maitreya Medicare Limited IPO
The IPO for Maitreya Medicare Ltd has a minimum number of 1,600 shares available for regular investors, with a maximum investment of ₹131,200. For big investors (HNI / NII), the maximum investment is ₹262,400. There is no upper limit for QIBs, HNI, or NII investors. Giriraj Stock Broking Private Ltd holds 5.99% of the shares, with the remaining shares divided among QIBs, regular investors, and big investors.
The IPO also features a market maker, Giriraj Stock Broking Private Ltd, who provides buy and sell prices after the IPO is listed, making trading easier and reducing risk. Maitreya Medicare Ltd has 1,08,800 shares set aside for this market maker.
The IPO is open for subscription from 27th October 2023 to 01st November 2023, with allotment results out on 06th November 2023, refunds initiated on 07th November 2023, demat credits expected on 08th November 2023, and the stock being listed on the NSE SME segment on 09th November 2023.