Poojaa Precision Engineering’s initial public offering opened on Tuesday with a 2.25x subscription, signaling strong initial investor interest in the SME-listed manufacturer.
The issue, priced between ₹285 and ₹301 per share, is scheduled to close on Thursday, July 30.
Grey market premiums are currently indicating a potential listing gain of approximately 86%, reflecting optimism among speculative traders ahead of the final bidding window.
Grey market premiums are currently indicating a potential listing gain of approximately 86%, reflecting optimism among speculative traders ahead of the final bidding window.
This premium suggests that market participants expect the stock to trade significantly above the upper price band once listed.
The company intends to raise ₹160 crore through the offering to fund expansion of its manufacturing capacities.
The strong opening subscription comes as Indian SME IPOs continue to attract retail and institutional capital, driven by a broader search for yield and growth opportunities in the manufacturing sector.