Aspire & Innovative IPO Subscribed 15.17 times
Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024. Aspire & Innovative IPO will list on NSE SME with the tentative listing date fixed as Wednesday, April 3, 2024.
Aspire & Innovative IPO price band is set at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.
Hem Securities Limited is the book running lead manager of the Aspire & Innovative IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Aspire & Innovative IPO is Hem Finlease.
Final Subscription Status of Aspire & Innovative IPO Ltd.
Here is final subscription status of Aspire & Innovative IPO as at close on by March 28, 2024 17:45.
|
Investor Category |
Subscription (times) |
Shares Offered |
Shares bid for |
Total Amount (Rs Cr.) |
|
Anchor Investors |
1 |
11,56,000 |
11,56,000 |
6.24 |
|
Market Maker |
1 |
2,04,000 |
2,04,000 |
1.10 |
|
Qualified Institutions |
5.21 |
7,74,000 |
40,36,000 |
21.79 |
|
Non-Institutional Buyers |
25.60 |
5,80,000 |
1,48,50,000 |
80.19 |
|
Retail Investors |
16.39 |
13,54,000 |
2,21,98,000 |
119.87 |
|
Total |
15.17 |
27,08,000 |
4,10,84,000 |
221.85 |
|
Total Application : 11,099 |
||||
AS of 28 March 2024, 18:20
Analysis of Aspire & Innovative IPO Subscription Status:
The subscription status of Aspire & Innovative IPO indicates a mixed response from investors across different categories, with varying levels of interest observed.
- Retail Category: The retail investors displayed the highest level of enthusiasm, subscribing the IPO 16.39 times. This robust subscription reflects strong retail participation and suggests a keen interest among individual investors in the offering.
- QIB Category: Qualified Institutional Buyers (QIBs) showed moderate interest, subscribing 5.21 times. While the subscription level in this category was relatively lower compared to the retail segment, it still indicates a decent level of institutional participation in the IPO.
- NII Category: Non-Institutional Buyers (NIIs) exhibited significant interest, subscribing the IPO 25.60 times. This category saw the highest oversubscription, indicating strong demand from high net-worth individuals and other non-institutional investors.
Overall, the IPO garnered a subscription of 15.17 times, reflecting healthy demand from various investor segments. The oversubscription, particularly in the retail and NII categories, suggests positive market sentiment and confidence in the offering. This enthusiastic response bodes well for the successful listing and performance of Aspire & Innovative IPO in the stock market.
Aspire & Innovative Limited Allocation Quota for Various Categories
|
Investor Category |
Shares Allocated in IPO |
|
Market Maker |
204,000 (5.01%) |
|
Anchor Allocation |
1,156,000 (28.42%) |
|
QIB |
774,000 (19.03%) |
|
NII (HNI) |
580,000 (14.26%) |
|
Retail |
1,354,000 (33.28%) |
|
Total |
4,068,000 (100.00%) |
Data Source: NSE
How Subscription Built up for IPO of Aspire & Innovative Limited
|
Date |
QIB |
NII |
Retail |
Total |
|
Day 1 |
2.91 |
0.70 |
2.57 |
2.26 |
|
Day 2 |
2.92 |
1.38 |
6.00 |
4.13 |
|
Day 3 |
5.21 |
25.60 |
16.39 |
15.17 |
AS of 28 March 2024, 18:20
Key Takeaways from Aspire & Innovative IPO Subscription Details:
Aspire & Innovative IPO subscription journey reflects evolving investor sentiment and interest across different categories over the three-day bidding period.
- Day 1: The IPO witnessed a modest start, with subscription levels ranging from 0.70 times in the NII category to 2.91 times in the QIB category. Retail investors showed a moderate response, indicating cautious optimism in the initial stages.
- Day 2: The subscription figures saw a gradual increase across all categories, signaling growing investor confidence. QIB and NII categories displayed a slight uptick, while retail participation notably improved to 6.00 times, indicating increasing interest from individual investors.
- Day 3: The final day witnessed a significant surge in subscription levels, with robust oversubscription across all categories. The QIB category saw a notable increase to 5.21 times, reflecting heightened institutional interest. Meanwhile, NIIs exhibited strong demand, subscribing 25.60 times, and retail investors continued to show enthusiasm, subscribing 16.39 times.
Overall, the IPO garnered a total subscription of 15.17 times, indicating strong demand from various investor segments. The increasing subscription levels over the three days suggest growing confidence in the offering, with investors showing keen interest in participating. This positive response sets a promising outlook for the successful listing and performance of Aspire & Innovative IPO in the stock market.
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