Current Infrap projects IPO on day 02: issue 34 times subscribed; Retail section has booked 50 times

The bursary trading of current infrap projects, an MKB business, attracted healthy interest in investors on its second day of bidding. The IPO was opened on August 26 and was fully subscribed on the first day, with significant participation of both retail and non-institutional investors. On the second day, the continued strong interest of the retail and NII segments led the issue to be subscribed to 34.14 times, as investors bid for 11.96 crore shares against the offer of 35 Lakh shares. Retail investors showed particularly strong interest, with their portion subscribed to 49.40 times, while the part of the non-institutional buyers was discussed 35.23 times. According to the exchange data, the QIB (qualified institutional buyers) section was subscribed to 9.94 times. The company intends to increase £ 41.80 crore through the IPO, which is a new 52 Lakh shares issue, with the price tire between £ 76 and £ 80 per shares. Current Infrap projects suggest to utilize the net returns of the IPO for investment in its wholly owned subsidiary, Current Infra Dhanbad Solar Private Limited, to set up an 1800 kW solar plant under the Resco model at IIT (ISM), Dhanbad, Jharkhand, as well as the requirement of the corporate Funded. The IPO allocation date was set for Monday 01 September. Investors receiving an award will be credited to their Demat accounts by Tuesday, September 02, while repayments for those who have not been awarded will be processed on the same day. The SME IPO will be listed on the NSE on Wednesday, September 3. According to market sources, the GMP of the current IPO of the current infrapcrals IPO was £ 43 on Thursday, suggesting that the share is likely to list at £ 123 per share, 53.75% higher than the upper tire price of £ 80. About the company founded in 2013, Current Infraprojects Limited (CIpl) is a company for infrastructure and renewable energy that offers civil, mechanical, electrical and water engineering services. The company specializes in engineering, procurement and construction services (EPC), and offers comprehensive solutions in solar, electric, water and civil EPC contracts, including interiorworks and road furniture, all on a fixed-sum-turnkey base. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.