Winsol Engineers IPO booked 45 times on day 2: Check subscription status, price band, allotment and listing
Upstox
3 min read • Updated: May 7, 2024, 11:29 AM
Summary
Winsol Engineers Ltd IPO subscription is open from May 6 to May 9. The ₹23.36-crore initial public offer is an entirely fresh issue of 31.15 lakh shares. Winsol Engineers IPO price band has been fixed at ₹71 to ₹75 per share.
Winsol Engineers Ltd IPO saw a strong investor demand on the second day of subscription on Tuesday, May 7. The initial public offering (IPO) of the engineering, procurement and construction (EPC) firm was booked 45.17 times until 11 am on day 2, as per the NSE data.
The public issue received bids for over 9.46 crore shares against 20.73 lakh shares on offer for the public investors.
In the retail category, the investors placed bids for 7.93 crore shares against 10.35 lakh shares on offer for the segment, reflecting a subscription of 76.65 times. The non-institutional investors’ (NIIs) category was booked 30.72 times with biddings for over 1.36 crore shares against 4.44 lakh shares on offer for the segment.
The Qualified Institutional Buyers’(QIBs) category was booked 1.13 times as the investors submitted bids for 6.72 lakh shares against 5.93 lakh shares on offer for the segment.
Kfin Technologies Limited is the registrar for the Winsol Engineers IPO, and Beeline Capital Advisors Pvt Ltd is the book-running lead manager. The market maker for the IPO is Spread X Securities.
On May 3, Winsol Engineers raised ₹6.62 crore from anchor investors by allocating 8.83 lakh shares. The company also earmarked 1.58 lakh shares for market maker, Spread X Securities.
The total IPO offer size of fresh issue of 31.15 lakh shares comprises an anchor investor portion of 8.83 lakh shares and a market maker segment of 1.58 lakh shares.
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Winsol Engineers IPO price band and lot size
The price band for the Winsol Engineers IPO is fixed at ₹71 to ₹75 per share of a face value of ₹10 each. Retail investors can apply for a minimum lot size of 1,600 shares, requiring an investment of ₹1,20,000. The minimum lot size for High Net-Worth Individuals (HNI) is 2 lots, or 3,200 shares, amounting to ₹2,40,000.
Winsol Engineers IPO important dates
The allotment status for the Winsol Engineers IPO is likely to be finalised on Friday, May 10. Non-allotted applicants can expect their refunds by May 13. Successful applicants will receive their shares in their demat accounts on the same day (May 13). The listing of Winsol Engineers IPO shares is likely to take place on the NSE SME platform, Emerge, on May 14.
Winsol Engineers intends to use the proceeds from the issue to meet the company’s working capital requirements and to address general corporate purposes.
About Winsol Engineers
Winsol Engineers Limited, established in December 2015, operates in the engineering, procurement, construction, and commissioning services sector for Balance of Plant (BoP) Solutions, catering to both solar and wind power generation companies.
The promoters of Winsol Engineers are Ramesh Jivabhai Pindariya, Amri Ramesh Pindariya, Pindariya Kashmira, Kashish Ramesh Pindariya and Kishor Jivabhai Pindariya. Collectively, they held 100% of the shares pre-issue. Post-issue, their collective holding will stand at 72.99%.