desk
Share
News Topical, Digital Desk : Latest IPO GMP: Shares of Meesho, Aequs, and Vidya Wires are set to be listed on the stock exchange on December 10. According to gray market signals, the IPOs of all three companies are trading at a premium, with a GMP (Grey Market Premium) of approximately 35%. This information is based on data from Investorgain.
SoftBank-backed Meesho's IPO was subscribed 79.02 times on the final day. The company's ₹5,421 crore issue was priced at ₹105-111 per share. At the higher price, the company's valuation is approximately ₹50,096 crore.
What will companies do with the IPO proceeds? Meesho will use the proceeds from the IPO for general corporate needs, including cloud infrastructure, marketing and branding activities, inorganic growth through acquisitions, and other strategic initiatives. Aequs Ltd, which engages in contract manufacturing in consumer durables and aerospace components, subscribed 101.63 times. Aequs' price band was set at ₹118-124 per share, valuing the company at over ₹8,300 crore. The company will use the proceeds raised from the IPO to fund future growth for itself and its two subsidiaries AeroStructures Manufacturing India and Aequs Consumer Products through loan repayments, purchase of new machinery and tools, acquisitions and other strategic initiatives. Vidya Wires Ltd's IPO received 26.59 times subscription. The company had fixed a price band of ₹48-52 per share for its issue. The company will use the proceeds raised for capex for new projects in subsidiary ALCU, repayment of debt and general corporate purposes.
--Advertisement--
