Bondada Engineering IPO: Check GMP, subscription status on day 2, other details to know | Mint – Mint

Bondada Engineering IPO: Bondada Engineering IPO opens for subscription on Friday, August 18, and closes on Tuesday, August 22. Bondada IPO price band has been fixed at 75 per equity share of face value of 10 each. Bids can be made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter. Bondada Engineering IPO issue price is 7.5 times the face value of the equity share.
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Bondada IPO consists of fresh issue of 56,96,000 equity shares aggregating to 42.72 crore. There’s no offer for sale (OFS) component. According to company’s Red Herring Prospectus (RHP) it intends to use the gross proceeds raised through the issue for meeting long-term working capital requirements, and general corporate purposes.
The company’s promoters are Raghavendra Rao Bondada, Neelima Bondada, and Satyanarayana Baratam.
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Bondada Engineering IPO’S lead manager is Vivro Financial Services Private Ltd, and the registrar is KFin Technologies Ltd.
Bondada Engineering Ltd is a Hyderabad-based infrastructure firm that serves customers across India in the telecom and solar energy industries by offering engineering, procurement, and construction (EPC) and operations and maintenance (O&M) services.

Bondada Engineering IPO Subscription Status

Bondada Engineering IPO Subscription Status was 17.54 times on day 2. The issue received positive response from retail investors who’s portion set was subscribed 24.54 times, and non-institutional buyers who’s portion set was subscribed 6.49 times, according to data on chittorgarh.com.
The company has received bids for 9,48,75,200 shares against 5,696,000 shares on offer, according to data on chittorgarh.com.
Bondada Engineering IPO Subscription Status was 70% on day 1.
Also Read: Bondada Engineering IPO: Check GMP, subscription status on day 1, other details to know

Bondada Engineering IPO GMP today

Bondada Engineering Limited IPO GMP or grey market premium on Monday was +26 marginally higher than the last two previous trading session. This indicates Bondada share price were trading at a premium of 26 in the grey market on Monday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Bondada share price is 101 apiece, which is 34.67% higher than the IPO price of 75.
Bondada Engineering IPO GMP on Sundat was 26.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: Pyramid Technoplast IPO: Pyramid IPO subscribed over 5 times on day 2 so far; details here
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