CPS Shapers IPO: Check GMP, subscription status on day 3, other key details to know | Mint – Mint

CPS Shapers IPO: C P S Shapers Ltd, the manufacturer of shapewear for Men and Women, launched its initial public offering (IPO) on Tuesday, August 29 and the issue will close today (Thursday, August 31). The IPO has received strong demand from investors.

CPS Shapers IPO Subscription Status

CPS Shapers IPO was subscribed 253.97 times on day 3 as the issue received bids for 14,44,58,400 shares against 600,000 shares on offer.
The retail investors’ portion was subscribed 301.03 times and the non-institutional investors’ (NII) portion was booked 198.17 times, according to data on chittorgarh.com. 
CPS Shapers IPO Subscription Status on day 2 was 66.34 times and the issue on day 1 was subscribed 16.64 times.

CPS Shapers IPO GMP today

CPS Shapers IPO GMP today, or grey market premium today, is 100 per share. This indicates CPS Shapers share price were trading at a premium of 100 in the grey market today, according to topsharebrokers.com.
Considering the IPO price band and the current premium in the grey market, the estimated listing price of CPS Shapers share is 285 apiece, which is 54.05% higher than the IPO price.
Also Read: Aeroflex Industries IPO: What does GMP signal ahead of listing tomorrow? Check here

CPS Shapers IPO Details

CPS Shapers IPO subscription will close on Thursday, August 31. The IPO is an SME IPO and the company aims to raise 11.10 crore from the issue. 
CPS Shapers IPO price band is fixed at 185 per equity share. The lot size is 600 equity shares and bids can be made in multiples thereafter. The minimum investment amount required by retail investors is 111,000.
The public offer consists of fresh issue of 6,00,000 equity shares aggregating to 11.10 crore. There’s no offer for sale (OFS) component. 
According to the company’s Red Herring Prospectus (RHP), it plans to use the gross proceeds to upgrade their existing IT software at their existing manufacturing facility and registered office, buy plant and machinery for their existing manufacturing facility, buy a commercial vehicle, fund capital expenditures for the purchase of a solar power system by our company, and repay or prepay, in full or in part, borrowings that their company has accessed.
C P S Shapers SME IPO’s lead manager is Shreni Shares Ltd, and the registrar is Bigshare Services Private Ltd.
Also Read: C P S Shapers IPO opens, check GMP, key dates to price band

CPS Shapers IPO Dates

CPS Shapers IPO’s basis of allotment of shares will be finalised on Tuesday, September 5 and the company will initiate refunds on September 6, while the shares will be credited to the demat account of allottees on September 7. 
CPS Shapers shares are likely to be listed on NSE SME on Friday, September 8.
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