Mon Dec 16 08:49:12 UTC 2024: ## Hamps Bio IPO Oversubscribed on Day One
**Mumbai, India** – Hamps Bio’s initial public offering (IPO), which opened on December 13th, has seen significant investor interest. The issue, priced at ₹51 per share, was oversubscribed 11.30 times on its first day, according to the BSE exchange. Retail investors showed particularly strong enthusiasm, with subscriptions reaching 21.33 times their allocation. While the non-institutional investor (NII) category was subscribed 2.47 times, no allocation was made for qualified institutional buyers (QIBs).
The IPO, which closes on December 17th, aims to raise ₹6.22 crore through the issuance of 12.22 lakh shares. The minimum investment for retail investors is ₹1,02,000 (for a lot of 2000 shares). Allotment is expected on December 18th, with shares credited to successful applicants’ demat accounts by December 19th. Refunds will also be processed on the 19th. The company plans to list on the BSE SME on December 20th.
Hamps Bio, involved in pharmaceutical product marketing and distribution, as well as the manufacturing of freeze-dried and frozen food products (FMCG), intends to use the IPO proceeds for purchasing plant and machinery, enhancing brand visibility, and covering general corporate expenses. The company distributes its products through over 50 distributors and e-commerce platforms.
Market sources indicate a grey market premium (GMP) of ₹40, suggesting a potential listing price of ₹91, a premium of 78.43% over the issue price. Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. is the book-running lead manager, Bigshare Services Pvt. Ltd. the registrar, and Pure Broking the market maker.
*Disclaimer: This information is for informational purposes only and should not be considered investment advice. Consult with a financial professional before making any investment decisions.*
First Piper 