New Swan Multitech IPO: Issue oversubscribed on day 1 on strong retail, NII interest; GMP steady

New Swan Multitech IPO has opened for subscription today (Thursday, January 11), and will close on Monday, January 15. New Swan Multitech IPO price band has been set in the range of 62 to 66 apiece, as per primary market expert. New Swan Multitech IPO lot size consists of 2,000 shares.

Considering that the minimum lot size for an application is 2000 shares, retail investors must contribute a minimum of 1. 32 lakh. The minimum bidding amount for HNIs is two lots, or 4,000 shares, with a maximum investment of 2.

64 lakh. New Swan Multitech IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. Click here! Modern farming and the automobile industry are the two industries in which New Swan Multitech Limited specialises in producing precision-engineered parts and components.

The company offers a wide range of automotive products, such as engine hangers, hinge body covers, fuel filler cap components, front cover stay components, main stand complete assemblies, engine guard plates, rear brake arm assemblies, separator breathers, cable guide assemblies, battery tray components, and numerous other essential parts for two-wheeler vehicles. Tentatively, New Swan Multitech IPO basis of allotment of shares will be finalised on Tuesday, January 16 and the company will initiate refunds on Wednesday, January 17, while the shares will be credited to the demat account of allottees on the same day. New Swan Multitech shares are likely to be listed on SME on Thursday, January 18.

As per the company’s red herring prospectus (RHP), the company’s listed peer’s are Sansera Engineering Limited (with a P/E of 36. 64), Endurance Technologies Limited (with a P/E of 52. 95), and JBM Auto Limited (with a P/E of 136.

03). The company’s revenue for FY23 is 151. 16cr, and its EBITDA is 20.

22cr. PAT was 9. 91cr, and ROCE was 24.

86%. In FY23, automotive components accounted for 60% of revenue, while agricultural implements contributed 37%. New Swan Multitech IPO details New Swan Multitech IPO, which is worth 33.

11 crore, is completely a fresh issue of 5,016,000 equity share; there is no offer for sale (OFS) component, according to RHP. The net proceeds are proposed to be used as follows: to fund capital expenditures for the purchase of specific machinery for the company’s current manufacturing unit in Raian, Ludhiana; to repay a portion of certain borrowings that the company has taken out; to meet working capital requirements; and for general corporate purposes. Kanwardeep Singh, Upkar Singh, and Barunpreet Singh Ahuja are the company’s promoters.

The registrar for the New Swan Multitech IPO is Bigshare Services Pvt Ltd, and the book running lead managers are Hem Securities Limited and Share India Capital Services Private Limited. New Swan Multitech IPO subscription status New Swan Multitech IPO subscription status is 9. 77 imes on day 1, so far.

The issue received positive response from retail investors who’s portion set was subscribed 6. 54 times, and non-institutional buyers who’s portion was subscribed 2. 61 times, as per data available on chittorgarh.

com. Qualified Institutions Buyers (QIBs) portion is booked 1. 07 times.

The company has received bids for 1,37,80,000 shares against 14,10,000 shares on offer, at 11:35 IST, according to data on chittorgarh. com. New Swan Multitech IPO GMP today New Swan Multitech IPO GMP today or grey market premium is +37, similar to the previous three sessions.

This indicates New Swan Multitech share price were trading at a premium of 37 in the grey market, according to investorgain. com. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of New Swan Multitech share price was indicated at 103 apiece, which is 56.

06% higher than the IPO price of 66. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price. New Swan Multitech IPO Review “The company is engaged in diverse business in automotive and agricultural sectors.

It has creamy customers and has posted boosted margins from FY23 onwards. The sustainability of such margins going forward remains concern. The issue appears reasonably priced based on its annualized super earnings for FY24.

Investors may park funds for the medium to long term rewards,” said Dilip Davda, the contributing editor at Chittorgarh. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away!.