Seemax Resources is set to finalize share allotment for its initial public offering on Friday, July 3, following a subscription window that closed on Thursday.
The SME IPO, which opened on June 30, drew an overall subscription of nearly four times the available shares, signaling robust investor appetite for the Gujarat-based material handling solutions provider.
4 million shares priced within a band of ₹134 to ₹141 per share, aiming to raise ₹19.
The fresh issue comprised 1.4 million shares priced within a band of ₹134 to ₹141 per share, aiming to raise ₹19.74 crore.
With the subscription phase complete, attention now shifts to the allocation process and the subsequent listing on the stock exchange.
Market participants are monitoring the grey market premium (GMP) for early indications of listing gains, a common benchmark for SME IPOs in India.
This development follows a busy period for Indian SME listings, with other issuers such as CSM Technologies also finalizing allotments in late June.