Remus Pharmaceuticals to Issue 388,000 Equity Shares in IPO businessworld.in
Remus Pharmaceuticals, an SME, is issuing 388,000 equity shares with a face value of 10 and a maximum value of 47.69 crores. For the offering, the issue price per share varies from Rs. 1150 to Rs. 1229. The offering starts on May 17, 2023, and ends on May 19, 2023, for public consumption. Link Intime India Private Ltd is the registrant, while Beeline Capital Advisors Pvt Ltd is the lead manager of the IPO. The maiden public offering of shares of Remus Pharmaceuticals is anticipated to take place on Monday, May 29, 2023, on the NSE SME.
Offering Details: Face value, maximum value, and offering period of the IPO
According to business news for share market, Remus Pharmaceuticals IPO received 6.41 times as many subscriptions on Day 2 as offered, for a total of 17,77,700 shares bought as opposed to 2,77,500 shares offered. The retail sector received 10.93 times as many subscribers as the QIB category, which received 1.48 times as many, while the NII category received 12.25 times as many by May 18, 2023. In comparison to the 97,125 shares offered, there were a total of 10,62,000 shares offered for the retail category; 5,09,700 shares were offered for the NII category; 41,625 shares were provided for the QIB category; and 2,06,000 shares were offered overall for the retail category.
According to the economic news today on GMP trends, the grey market premium for Remus Pharmaceuticals started at around Rs. 118 and has now dropped to Rs. 70 as of May 18, 2023. The GMP indication estimates the projected listing price at approximately $1299 per share (upper price + current GMP) on May 18, 2023, taking into consideration the top issue price of Remus Pharmaceuticals Ltd.'s first public offering of $1,229 per share. As a consequence, Remus Pharmaceuticals Ltd.'s listing premium over the listing price established by the grey market is a respectable 5.70%, as shown by the GMP of Rs. 1299 on the upper issue price band of Rs. 1229.
Remus Pharmaceuticals is a tempting purchase for investors, according to Mr. A R Ramachandran, co-founder & trainer-Tips2trades. These good fundamentals are supported by great return ratios and outstanding profit growth despite the rising debt. Subscribers can receive listing gains.
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