Avience Biomedicals IPO subscribed 218 times so far on Day 3; check allotment date and steps

The initial public offering of medical consumable product manufacturer Avience Biomedicals has been subscribed 218.47 times so far on the final day of subscription on Monday, June 22.

It has received bids for 22,80,81,600 shares as against 10,44,000 shares on offer, according to the NSE data until 1:53 pm.

The ₹30.24 crore initial share sale is a fresh issuance of 14.53 lakh shares, with no offer for sale component.

The net proceeds from the issue will be utilised to part-finance the capital expenditure towards establishing a new manufacturing unit, working capital requirements and general corporate purposes.

"We believe that listing will enhance our corporate image and visibility of the brand name of our company. We also believe that our company will receive the benefits from listing of equity shares on the Emerge Platform of NSE Limited (NSE EMERGE). It will also provide liquidity to the existing shareholders and will also create a public trading market for the equity shares of our company," according to the red herring prospectus.

With a price band of ₹196 to ₹208 per share, a lot consists of 600 shares. The minimum investment for an individual investor is 1,200 shares.

Avience Biomedicals is a medical consumable firm engaged in the manufacturing of In Vitro Diagnostic (IVD) products and medical devices. It also makes medical devices, including biochemistry analysers and serology products. Its products are used by microbiology labs, pathology labs, hospitals, and research centres.

Avience Biomedicals IPO allotment and listing date

Avience Biomedicals IPO allotment status is expected to be finalised on Tuesday, June 23. The listing is expected to occur on Thursday, June 25.

How to check Avience Biomedicals IPO allotment status on NSE

• Visit NSE’s allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Pick ‘Equity & SME IPO bid details’
• Choose ‘Avience Biomedicals’ under the symbol ‘AVIENCE’
• Enter your PAN details and application number
• Click on submit

Steps to check Avience Biomedicals IPO allotment status on Skyline Financial Services

• Visit the official website of the issue registrar: https://www.skylinerta.com/ipo.php
• Select the company name from the dropdown menu
• Enter your DPID/Client ID, application number or PAN number
• Click on ‘Search’

Avience Biomedicals IPO GMP

According to investorgain.com and media reports, unlisted shares of Avience Biomedicals Ltd were trading at ₹278 per share, reflecting a grey market premium (GMP) of 33.65% over the upper price band of ₹208.