2 IPO’s to open for subscription next week
Next week, 2 Initial Public Offers (IPOs) will be open for listing in the stock market. This includes Cyient DLM and ideaForge technology. Cyient DLM is a company providing Electric Manufacturing Services. At the same time, ideaforge is a company that manufactures drones. Let us know about these two IPOs one by one.
Cyient DLM
Cyient DLM wants to raise Rs 567 crore through this IPO. The company has fixed a price band of Rs 250-265 for the issue. Retail investors will be able to apply for this IPO from June 27 to June 30.
In this, retail investors can apply for minimum one lot i.e. 56 shares. If they apply for 1 lot in the upper price band of the IPO at Rs 265, they will have to invest Rs 14,840.
Retail investors can bid for a maximum of 13 lots
Retail investors can bid for a maximum of 13 lots i.e. 728 shares for the Cyient DLM IPO, for which they will have to spend Rs 192,920 as per the upper price band.
ideaForge Technology Limited
ideaForge Technology Limited wants to raise Rs 592 crore through this IPO. The company has fixed a price band of Rs 638-672 for the issue. Retail investors will be able to apply for this IPO from June 26 to June 29.
In this, retail investors can apply for one lot i.e. 22 shares. If they apply for 1 lot according to the upper price band of IPO Rs.672, then they will have to invest Rs.14,784.
Retail investors can bid for a maximum of 13 lots
Retail investors can also bid for a maximum of 13 lots i.e. 286 shares for ideaForge Technology Limited’s IPO. For this, they will have to spend Rs 192,192 according to the upper price band.
75% share reserved for retail investors in both IPOs
Both the companies have reserved 70% of their respective IPOs for Qualified Institutional Investors (QIP). Apart from this, 10% is reserved for retail investors and the remaining 15% for non-institutional investors (NII).
