QVC Exports IPO fully subscribed within hours of launch: Check price band, lot size and other key details

QVC Exports Limited IPO opened to strong demand on the first day of bidding, and the public offer was fully subscribed within hours of launch.

The NSE SME issue was booked more than 3 times driven by high retail demand.

The ferroalloys exporter's initial public offer received bids for more than 86.25 lakh shares compared to 26.57 lakh shares on offer, as per the NSE data until 1:30 p.m. The issue was booked 3.24 times.

The retail category of the IPO saw the highest demand, with bids for more than 74.78 lakh shares, against 13.29 lakh shares set aside for the segment. The retail portion was subscribed 5.62 times.

The non-institutional investors (NIIs) applied for 11.47 lakh shares against 13.28 shares reserved for the category, booking their portion only 86%.

The NSE SME issue is open for subscription till August 23. The investors looking forward to applying for the shares of QVC Exports should check key details about the public offer before bidding.

QVC Exports Limited IPO offer size, price band, and minimum investment

QVC Exports Limited IPO is a fixed price offering worth ₹24.07 crore. It consists of a fresh issue of 20.5 lakh shares worth ₹17.63 crore and an offer for sale of 7.49 lakh shares amounting to ₹6.44 crore QVC Exports Limited IPO price band has been fixed at ₹86 per share.

The minimum lot size for an application is 1,600 shares, requiring an investment of ₹1,37,600 for retail investors.

For High Net-Worth Individuals (HNIs), the minimum lot size is 2 lots (3,200 shares), aggregating to an investment of ₹2,75,200.

QVC Exports Limited IPO dates

The IPO of QVC Exports Limited window is open for bidding from August 21 to August 23. The IPO allotment status is likely to be finalized on August 26.

Refunds will be initiated for unsuccessful bidders on August 27 and shares will be credited in the demat accounts of successful bidders the same day. Shares of the company are likely to be listed on the NSE platform on August 28.

QVC Exports Limited IPO registrar

Cameo Corporate Services Limited is the registrar of QVC Exports' initial public offering (IPO), while Khandwala Securities Limited is the book-running lead manager. The market maker for the QVC Exports IPO is Aftertrade Broking.

QVC Exports Limited IPO objective

The company plans to use the net proceeds from the offering to fund the following: repaying unsecured loans, meeting working capital needs, and a significant portion of general corporate expenses.

About QVC Exports Limited

QVC Exports Limited, founded in August 2005, is engaged in trading and export of various ferroalloys like high-carbon silicon manganese and ferrosilicon.

By March 31, 2024, 82.95% of its revenue came from exports. By January 31, 2024, the company had shipped products to many countries, including Taiwan, Japan, Bangladesh, and more. It meets ISO standards for quality, environment, health, and safety.