Slone Infosystems Ltd IPO booked over 648 times on last day: Check subscription status, allotment and listing
Upstox
3 min read • Updated: May 7, 2024, 7:37 PM
Summary
Slone Infosystems Ltd IPO share allotment status is expected to be finalised on May 8. Slone Infosystems Ltd IPO share listing date has been tentatively fixed as May 10. The stock will list on NSE SME platform, Emerge.
Slone Infosystems Limited IPO subscription closed with a massive demand from investors on Tuesday, May 7. The initial public offer was booked more than 648 times on the third and final day of bidding.
The ₹11.06-crore NSE SME IPO of Sole Infosystems Ltd received bids for over 86.25 crore shares against 13.29 lakh shares on offer for public investors, indicating an overall subscription of 648.76 times, as per the NSE data.
The public issue saw strong demand across categories as both retail and non-institutional investors (NIIs) segments received overwhelming bids.
The retail portion was booked nearly 541 times with applications for 36 crore shares against 6.65 lakh shares on offer. The NIIs portion was booked more than 718 times with bids for over 47.72 crore shares against 6.64 lakh shares on offer for the category.
The IPO received bids for more than 2.53 crore shares from investors in the qualified institutional buyers’ (QIBs) category.
Slone Infosystems IPO share allotment status and listing
After the subscription period, which was open from May 3 to May 7, comes to a close, the investors are now awaiting the share allotment status. Slone Infosystems IPO share allotment status is expected to be finalised on Wednesday, May 8.
Refunds will be initiated on Thursday, May 9, for the non-allottees alongside the credit of shares to the Demat accounts of successful bidders the same day.
Slone Infosystems Ltd IPO share listing date has been tentatively fixed as May 10.
Slone Infosystems IPO price and other details
The Slone Infosystems IPO price was fixed at ₹79 per share. The IPO lot size was of 1,600 shares, amounting to a minimum investment of ₹1,26,400 for retail investors.
Jawa Capital Services Private Limited is the book running lead manager, with Kfin Technologies Limited being the registrar.
In the Slone Infosystems IPO 47.43% of the shares were allocated to NII and 47.54% was reserved for retail investors. Additionally, 5.03% shares were earmarked for the market maker. The total offer size comprised fresh issue of 14 lakh shares, including a market maker portion of 70,400 shares.
About Slone Infosystems
Slone Infosystems Limited, incorporated in December 2022, specialises in IT hardware solutions. The company’s business revolves around a range of IT equipment, from laptops and desktops to servers and workstations, for both sale and rental purposes. Additionally, the company offers IT solution services to corporate clients, ranging from cloud server management to equipment maintenance.