H.M. Electro Mech IPO allotment status is expected to be out today, January 29. The IPO saw strong subscription and is expected to list at ₹90 with a 20% premium over the IPO price.
H.M. Electro Mech, an Indian company engaged in manufacturing and providing electro-mechanical solutions, is set to release its IPO allotment status today, January 29. The IPO has garnered a strong response from investors, with a subscription rate of 91.75 times, including an impressive 95.55 times subscription in the retail investor category. The issue was fully subscribed, with a total offer size of ₹27.74 crore through the sale of 36.99 lakh fresh shares, priced at ₹75 per share.
Investors eagerly awaiting the allotment can check their status on the registrar Cameo Corporate Services Limited’s website or through the Bombay Stock Exchange (BSE). Once the allotment is confirmed, shares will be credited to demat accounts on January 30, while refunds will be processed for those not allotted shares.
The company, which focuses on providing state-of-the-art electro-mechanical products and services, had set the price band for the IPO at ₹71-75 per share. The minimum lot size for this SME IPO was 1600 shares.
H.M. Electro Mech’s shares have been trading at a ₹15 premium in the grey market, indicating strong investor interest. This suggests that the listing price could be around ₹90, reflecting a 20% premium over the IPO price. This positive momentum in the grey market hints at a successful listing on the BSE SME segment on January 31.
