Chavda Infra IPO, the much-awaited investment opportunity, opened its doors for subscription on this bright Tuesday, September 12th, and will warmly welcome investors until Thursday, September 14th. This exciting IPO presents a price band ranging from ₹60 to ₹65 per equity share, each carrying a face value of ₹10. Investors can participate with a lot size of 2,000 equity shares and, if desired, in multiples of 2,000 equity shares thereafter.
Chavda Infra IPO Details:
This IPO, with a total worth of ₹43.26 crore, is exclusively a fresh issue, with no offer for sale (OFS) component. The net proceeds from the offering will be strategically allocated to fuel general corporate needs, cater to working capital requirements, and cover public offering costs. The company is proudly promoted by Mahesh Gunvantlal Chavda, Dharmishtha Maheshkumar Chavda, and Johil Maheshbhai Chavda.
Inclusivity is a key aspect of Chavda Infra IPO. The offering reserves not more than 50% of shares for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and a minimum of 35% of the offer is specially reserved for Retail Investors. The book-running lead manager for this promising venture is Beeline Capital Advisors Pvt Ltd, while Kfin Technologies Ltd is entrusted with the role of IPO registrar.
Chavda Infra IPO Subscription Status:
The first day of subscription for Chavda Infra IPO witnessed an impressive 6.55 times oversubscription. Retail investors showed remarkable enthusiasm, subscribing 9.25 times, while non-institutional buyers and QIBs followed suit with 4.31 times and 3.50 times subscription rates, respectively. Data from chittorgarh.com reveals that the company received bids for 2,89,74,000 shares against the 6,656,000 shares on offer.
Chavda Infra IPO Timeline:
The eagerly anticipated share allotment for Chavda Infra IPO is scheduled for Wednesday, September 20th. Those fortunate enough to secure allotments will find the shares comfortably settled in their Demat accounts by Friday, September 22nd. Meanwhile, the refund process for those who missed out commences on Thursday, September 21st. Mark your calendars, as Jiwanram Sheoduttrai Industries IPO shares are set to grace the NSE SME platform on Monday, September 25th.
Chavda Infra IPO GMP Today:
Today’s grey market premium (GMP) for Chavda Infra IPO continues its upward trajectory, resting at a healthy +50, consistent with the previous two trading sessions. This intriguing development signifies that Chavda Infra shares are trading at a premium of ₹50 in the grey market as of Tuesday, based on insights from topsharebrokers.com.
When considering the upper end of the IPO price band and the prevailing premium in the grey market, the estimated listing price for Chavda Infra shares stands impressively at ₹115 apiece, marking a remarkable 76.92% increase from the IPO price of ₹65.
In the GMP realm, optimism prevails, with the lowest GMP recorded at ₹20 and the highest reaching ₹50, as per topsharebrokers.com. The “grey market premium” mirrors investors’ willingness to pay more than the issue price, signaling strong confidence in this IPO.
Chavda Infra IPO Review:
Dilip Davda, the contributing editor at Chittorgarh.com, expressed his positive outlook on the company, stating, “The company has been performing admirably and boasts a robust order book. Based on FY23 figures, the issue is priced reasonably. With ongoing projects valued at Rs. 601 crore, investors may find this IPO a promising avenue for medium to long-term rewards.” Invest wisely!
About Chavda Infra:
Founded in 2012, Chavda Infra Limited is a company that excels in construction and associated services across a diverse range of projects within Gujarat. These projects span residential, commercial, and institutional developments. Operating as one of the integral components of the Chavda Group, which comprises three distinctive entities – Chavda Infra, Chavda RMC, and Chavda Developers, our service footprint extends to Ahmedabad, Gandhinagar, and Rajkot. Our extensive portfolio encompasses all aspects of project development, from initial planning and design through to construction and post-construction services.
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