Mon Nov 18 17:37:29 UTC 2024: ## BlackBuck IPO Closes with No Grey Market Premium

**Mumbai, November 18** – The initial public offering (IPO) of BlackBuck, the digital trucking platform, closed today after a subscription period that saw a significant drop in its grey market premium (GMP). The IPO, which opened on November 13th, ultimately saw a subscription rate of 1.30 times.

While the GMP reached a high of Rs 24 on November 11th, suggesting a potential 8.79% gain over the IPO price, it plummeted to zero by the close of trading today, according to InvestorGain. It’s important to note that GMP is unofficial and based on speculation.

The IPO, priced between Rs 259 and Rs 273 per share, raised a total of Rs 1,114.7 crore (approximately $135 million USD), comprising a fresh issue of Rs 550 crore and an offer for sale of up to Rs 565 crore. The allocation of shares was 29.98% for Qualified Institutional Buyers (QIBs), who subscribed 1.78 times their allotment, 14.99% for Non-Institutional Investors (NIIs) who subscribed only 0.16 times, 9.99% for Retail Investors, 0.06% for employees (who subscribed 9.01 times), and 44.97% for Anchor investors. The minimum investment for retail investors was Rs 14,742 (for 54 shares).

Axis Capital, Morgan Stanley, JM Financial, and IIFL Securities acted as book-running lead managers, while Kfin Technologies served as the registrar.

**Disclaimer:** Investing in IPOs carries inherent market risks. Consult a financial advisor and thoroughly review the red herring prospectus before investing.

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