OBSC Perfection IPO booked 77%, check day 1 subscription status and other key details

OBSC Perfection Limited IPO saw a lukewarm response across investor categories on the first day of bidding on Tuesday, October 22. The NSE SME issue was booked only 77%.

The initial public offering (IPO) of the precision metal components maker received bids for over 33.64 lakh shares compared to 43.89 lakh shares on offer, as per the NSE data at the close of bidding at 5 pm on day 1.

The retail portion of the IPO was subscribed 65% with bids for 14.18 lakh shares against 21.94 lakh shares reserved for the category. The Non-Institutional Investors (NIIs) applied for over 1.46 lakh shares against 9.4 lakh shares set aside for them, subscribing to the category only 15%.

The Qualified Institutional Buyers (QIB) subscribed to their quota 1.43 times with applications for 18 lakh shares compared to 12.55 lakh shares reserved for the category.

OBSC Perfection IPO offer size, price band and other details

The OBSC Perfection IPO is a book-built issue, aimed at raising ₹66.02 crore. The NSE SME issue comprises an entirely fresh issuance of 66.02 lakh equity shares. The IPO price band has been set between ₹95 and ₹100 per share.

Retail investors can bid for at least one lot size of 1,200 shares, requiring an investment of ₹1,20,000. High-net-worth individuals (HNIs) need to apply for a minimum of two lots, totalling 2,400 shares, which amounts to an investment of ₹2,40,000.

Unistone Capital Pvt Ltd is the book-running lead manager overseeing the IPO, while Bigshare Services Pvt Ltd is the registrar of the issue.

RK Stock Holding is the market maker for the public offer.

OBSC Perfection IPO dates

The subscription window for the OBSC Perfection IPO, which opened today (October 22), will close on October 24. The IPO share allotment status is expected to be decided by the company on Friday, October 25.

Refunds will be processed on October 28 for the non-allottees and successful applicants will receive their shares in their Demat accounts the same day.

Shares of the company are scheduled to be listed on the NSE SME platform on October 29.

OBSC Perfection IPO objectives

OBSC Perfection proposes to primarily utilise the IPO proceeds for capital expenditure to buy machinery for its existing manufacturing facility, Unit III, located in Sriperumbudur in Tamil Nadu. Additionally, the company plans to invest a portion of the fund at Unit IV, located in Pune. The company will also utilise funds for working capital needs and general corporate expenses.

About OBSC Perfection Limited

OBSC Perfection Limited specialises in the production of precision metal components for several industries. The company, founded in 2017, has a diverse range of high quality products, including cut blanks, shafts, torsion bars, piston rods and more. The company primarily caters to original equipment manufacturers (OEMs) that supply parts to leading automobile companies in India, alongside serving clients in the defence, marine and telecom sectors. The company operates four manufacturing facilities, with three located in Pune, Maharashtra (including its main facility) and one in Chennai, Tamil Nadu.