ArMee Infotech IPO Subscription Update: Issue Subscribed 1.17x on Day 2
On the second day, ArMee Infotech received bids for 9,42,160 shares against 10,01,784 shares available for subscription, according to NSE data.
The retail investor category was subscribed 1.35 times, while the Non-Institutional Investor (NII) category and Qualified Institutional Buyer (QIB) portion had received 0.86 times and 0.94 times bids, respectively, at the time of the update.
Investors can also visit our IPO page to track subscription updates and other upcoming public issues.
ArMee Infotech IPO Subscription Details
| Sr. No. | Category | No. of Times of Total Meant for the Category |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 0.94 |
| 2 | Non-Institutional Investors | 0.86 |
| 3 | Retail Individual Investors (RIIs) | 1.35 |
| - | Total | 1.17 |
ArMee Infotech Overview & Purpose
ArMee Infotech is offering a Rs 300 crore IPO, comprising entirely of a fresh issue of 80 lakh equity shares.
The issue is priced in the range of Rs 350 to Rs 375 per share, with a minimum lot size of 40 shares.
Use of IPO Proceeds
The company plans to utilise the fresh issue proceeds towards the following:
- Securing performance bank guarantees (PBGs) for business expansion.
- Repayment or prepayment of certain borrowings.
- Funding working capital requirements.
- General corporate purposes.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
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