Vilin Bio Med IPO: Day 3 Subscription Status and Key Insights
The initial public offering (IPO) of Vilin Bio Med Ltd, a prominent player in the healthcare industry, has witnessed a subscription status of 1.20 times on Day 3. This SME IPO, which commenced on Friday, June 16, will remain open for subscription until Wednesday, June 21.
On the third day of the IPO subscription, retail investors displayed a positive response, leading to a subscription of 2.38 times the allotted portion. Non-institutional bidders (NII) showed a 2% subscription, as reported by chittorgarh.com.
According to the available data, the company received bids for 45,60,000 shares against the 4,000,000 shares on offer.
Each share of Vilin Bio Med Ltd holds a face value of ₹10, and the issue price for the fresh issue portion has been fixed at ₹30 per share.
By issuing a total of 40 lakh shares at ₹30 per share, the company aims to raise a substantial amount of ₹12 crore. It is worth noting that the fresh issue portion represents the complete size of Vilin Bio Med’s IPO, as it does not involve an offer for sale.
To ensure fair participation, the company has allocated 50% of the issue size for retail investors, with the remaining 50% reserved for HNI/NII investors. The minimum lot size for IPO investment is set at 4,000 shares. Therefore, retail investors can enter the IPO with a minimum investment of ₹120,000 (4,000 shares multiplied by ₹30 per share).
HNI/NII investors have the opportunity to invest in a minimum of 2 lots, with each lot consisting of 8,000 shares, and the minimum lot value set at ₹240,000.
The allotment of shares will be determined on June 26, followed by the initiation of the refund process on June 27. By June 29, shares will be credited to the demat accounts of the successful allottees.
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It is anticipated that Vilin Bio Med shares will be listed on the NSE SME market by June 30, providing investors with the opportunity to trade and benefit from the company’s growth.
Bigshare Services Private Limited has been appointed as the registrar for this IPO, while Inventure Merchant Banking Services Private Ltd will act as the lead manager, ensuring a smooth process for investors.
About Vilin Bio Med:
Vilin Bio Med Limited, located in Roorkee, Uttarakhand, is a pharmaceutical manufacturing company. With a focus on producing top-notch pharmaceutical products, the company has successfully built a robust presence in the domestic market.
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