The subscription period for the Chavda Infra IPO began on Tuesday, September 12, 2023, and ended on Wednesday, September 14, 2023. About ₹43.26 crores will be raised by the Chavda Infra IPO. Retail quota is set at 35%, NII at 15%, and QIB at 50%. The price range per equity share is set at ₹60 to ₹65. The Chavda Infra IPO Allotment Status will be completed on September 20, 2023. The date of the Chavda Infra IPO Refund is September 21, 2023. The Chavda Infra IPO will be listed on the stock market on September 25, 2023, and shares will be credited to your Demat account on September 22, 2023.
Chavda Infra IPO Allotment Status
The pricing range for the Chavda Infra IPO has been set at ₹60 to ₹65 per equity share with a face value of ₹10 each. For the Chavda Infra IPO, the minimum lot size is 2,000 equity shares, with subsequent lots in increments of 2,000 equity shares. The 6,656,000 equity shares in the ₹43.26 crore Chavda Infra IPO Allotment Status are all new issues, there is no offer for sale (OFS) component. The offering’s net proceeds will be used by the firm to pay for general corporate expenses, working capital needs, and public offering expenses.
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Members of the Chavda family, Mahesh Gunvantlal Chavda, Dharmishtha Maheshkumar Chavda, and Johil Maheshbhai Chavda, are the company’s promoters. According to Chavda Infra IPO Allotment Status on Chittorgarh.com, at 18:51 IST, the issue had a good reaction from individual investors, whose part set was subscribed 202.07 times, non-institutional purchasers, whose portion set was subscribed 241.96 times, and QIBs, whose portion was subscribed 95.10 times.
Chavda Infra IPO GMP
The grey market premium for the Chavda Infra IPO today is +58, which is consistent with the previous trading session. According to topsharebrokers.com, this shows the Chavda Infra share price was trading at a premium of ₹58. The expected listing price of Chavda Infra shares is ₹123 per share, which is 89.23% more expensive than the initial public offering price of ₹65 when taking into account the grey market premium and the upper limit of the IPO price range.
| Opening Date | September 12, 2023 |
| Closing Date | September 14, 2023 |
| Chavda Infra Issue Price | INR 60 – 65 per share |
| Fresh issue | 66,56,000 shares
INR 39.94 – 43.26 crore |
| Offer For Sale | NIL |
| Total IPO size | 66,56,000 shares
INR 39.94 – 43.26 crore |
| Minimum bid (lot size) | 2,000 shares
INR 1,20,000 – 1,30,000 |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| QIB | 50%, |
| NII | 15% |
| Basis of Allotment | September 20, 2023 |
| Initiation of Refunds | September 21, 2023 |
| The credit of Shares to Demat | September 22, 2023 |
| Listing Date | September 25, 2023 |
| Listing On | NSE SME |
IPO GMP trend is up, and a good listing is anticipated. According to topsharebrokers.com, the lowest GMP is ₹20 and the highest is ₹58. Investors’ willingness to pay more than the issue price is indicated by the term “grey market premium.” The minimum market lot for the Chavda Infra IPO is 2,000 shares with a 130,000 application amount. An NSE SME IPO, the Chavda Infra IPO will be listed on the NSE.
How To Check Chavda Infra Limited IPO Allotment Status?
To check Chavda Infra Limited’s IPO Allotment Status, follow these steps:
- Visit the official website of the registrar or the stock exchange where Chavda Infra shares are listed.
- Look for the IPO Allotment Status section.
- Type in your Permanent Account Number (PAN) and Application ID.
- The “Submit” or “Check Allotment” button must be clicked.
- The result will display the number of shares allotted to you and the price at which they were allocated.
- If you’re allotted shares, they will be credited to your demat account once the IPO shares are listed.
Chavda Infra Limited IPO Objectives
- For working capital requirements.
- For general corporate purposes.
Chavda Infra IPO Shares Offer
A public issuance of 66,56,000 equity shares is being made by Chavda Infra. 2,212,000 shares are available for QIB, 6,63,600 shares are available for non-institutional investors, and 1,548,400 shares are available for individual investors.
- RII : 35%
- QIB : 50%
- NII : 15%
Chavda Infra IPO Review
The company’s order book is completely booked. Based on FY23, the pricing of the issue seems reasonable. It now has active projects of Rs. 601 crore. According to Dilip Davda, a contributing editor at Chittorgarh.com, investors may think about depositing assets for medium- to long-term gains.
The business is engaged in the crucial economic growth infrastructure sector. As capital investment allocation for infrastructure in the Budget 2023–24 was increased by 33% to 10 lakh crore, the company’s business may expand in the next year.
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