AccelerateBS India IPO: GMP, Subscription Status, and Key Details
AccelerateBS India, a leading digital technology services firm, has initiated its initial public offering (IPO) for public subscription from Thursday, July 6, until Tuesday, July 11.
AccelerateBS India offers comprehensive IT services to businesses worldwide, catering to both B2B and B2C sectors. These services encompass custom software development, consultancy, and Digital Experience Platforms (DXP) consulting and implementation.
The IPO of AccelerateBS consists of a total of 6.32 lakh shares, with the issue size reaching a maximum of 5.69 crore. It comprises a fresh issue of 188,800 shares valued at up to ₹1.70 crore and an offer for sale (OFS) of 443,200 shares valued at up to ₹3.99 crore.
The company’s promoters, namely Kunal Arvind Shah and Keyur Dipakkumar Shah, currently hold a 100% stake, which will reduce to 70.59% following the IPO.
The net proceeds from the new issue will be utilized by AccelerateBS India to support general corporate requirements and long-term working capital needs.
The basis for allocation is expected to be determined on Friday, July 14, with refunds likely commencing on Monday, July 17. Eligible allottees can anticipate the shares to be credited to their demat accounts by Tuesday, July 18. The listing of AccelerateBS India shares on the BSE SME platform is projected to occur on Wednesday, July 19.
Shreni Shares Pvt Ltd serves as the lead manager for the IPO, while Bigshare Services Pvt Ltd assumes the role of the IPO registrar.
AccelerateBS India Ltd IPO Subscription Status: The SME IPO of AccelerateBS India Ltd witnessed a subscription of 10.85 times on the third day. Notably, retail investors demonstrated substantial interest, subscribing to their portion 16.07 times, followed by non-institutional bidders (NII) portion, which was subscribed 5.62 times, as per data from chittorgarh.com.
At 17:10 IST, bids for 64,91,200 shares were received against the 632,000 shares on offer, according to data from chittorgarh.com.
On the first day, the IPO was subscribed 1.59 times, and it reached 3.93 times on the second day.
AccelerateBS India Ltd IPO GMP Details: The grey market premium (GMP) for AccelerateBS India stands at +19, indicating a ₹19 premium in the grey market on Monday, as reported by topsharebrokers.com.
Considering the upper end of the IPO price band and the current GMP, the estimated listing price for AccelerateBS India shares is ₹109 apiece, representing a 21.11% increase over the IPO price.
The “grey market premium” signifies investors’ willingness to pay a higher price than the issue price.
About AccelerateBS India:
Established in 2022, AccelerateBS India Limited is a company specializing in digital technology services. It provides a wide range of boutique technology services to businesses operating in both the B2B and B2C sectors globally.
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