Fri Dec 13 06:03:58 UTC 2024: ## Supreme Facility Management IPO Oversubscribed, Trading at a Premium

**Mumbai, India – December 14, 2023** – The initial public offering (IPO) of Supreme Facility Management Ltd., an integrated facility management services provider, has been significantly oversubscribed. The NSE SME issue, which closed on December 13th, saw 1.77 times oversubscription of its 65.79 lakh shares valued at Rs 50 crore (approximately $6 million USD). By Thursday afternoon, the oversubscription had climbed to 2.79 times.

The IPO, priced between Rs 72 and Rs 76 per share, attracted strong interest from investors. Retail investors required a minimum investment of Rs 1,21,600 (approximately $1,470 USD) for a single application (1,600 shares). Qualified institutions subscribed 1.06 times the allotted shares, while Non-Institutional Buyers subscribed 0.87 times.

The grey market premium (GMP) on the shares stood at Rs 24 as of Thursday morning, representing a 31.58% premium over the upper price band. While unofficial, Investorgain estimates a potential listing price of around Rs 100 per share, based on current trends.

Supreme Facility Management provides integrated facility management services, including housekeeping, sanitation, staffing, and corporate food solutions. The company reported a revenue of Rs 99.32 crore and a profit of Rs 2.4 crore in Q1 of FY25, and saw a 7.91% revenue increase for FY24. Net proceeds from the IPO will be used for working capital, inorganic growth, and general corporate purposes.

Share allotment is scheduled for December 16th, with credits to successful bidders’ demat accounts on December 17th. Supreme Facility Management’s shares are expected to be listed on the NSE SME platform on December 18th. Khandwala Securities Ltd. acted as the book-running lead manager, Kfin Technologies Ltd. as the registrar, and Aftertrade Broking Pvt. as the market maker.

**Disclaimer:** Investment in IPOs involves market risk. Consult with a financial advisor and thoroughly review the red herring prospectus before investing.

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