Gabion Technologies IPO Allotment: Steps To Check Status, Latest GMP And More

The initial public offering (IPO) of Gabion Technologies was open for bidding from Jan. 6 to 8. The BSE SME issue saw strong demand, with an overall subscription of 826 times. The IPO attracted bids for 1,97,97,61,600 shares against the 23,96,800 shares on offer during the three-day subscription period.

The Rs 29.16-crore IPO was subscribed 1,467.78 times in the Non-Institutional Investors (NIIs) category. The retail portion of the IPO was booked 867.23 times. The Qualified Institutional Buyers (QIB) also showed solid participation, subscribing their category 271.13 times.

The grey market premium indicates that investors could see strong listing gains when the stock debuts next week.

The Gabion Technologies IPO comprised entirely a fresh issue of 36 lakh shares. The price band for the issue was set between Rs 76 and Rs 81 per share.

With the bidding period now over, Gabion Technologies IPO’s allotment is tentatively scheduled for Friday, Jan. 9. The credit of shares to demat accounts and the initiation of refunds are both expected on Monday, Jan. 12. Gabion Technologies ipo listing date has been tentatively fixed as Jan. 13. Shares of the company will be listed on the BSE SME platform.

GYR Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd is the registrar. Giriraj Stock Broking Pvt. Ltd. is the market maker for the IPO.

Applicants can check their allotment status today (Jan. 9), either on the BSE website or through Kfin Technologies Ltd.