Mon Dec 16 13:29:48 UTC 2024: **Supreme Facility Management IPO Oversubscribed, Trading to Begin December 18**
MUMBAI, INDIA – Supreme Facility Management’s initial public offering (IPO) has been significantly oversubscribed, closing with a 25.71 times subscription on December 13th. Investors snapped up 16.91 crore equity shares, far exceeding the offer size of 65.79 lakh shares. The Pune-based company, offering services ranging from housekeeping and pest control to corporate food solutions, launched its ₹50 crore IPO on December 11th, priced between ₹72 and ₹76 per share.
Retail investors showed the most enthusiasm, contributing 74,710 of the 81,914 applications received. Retail bids were 42.49 times their allotted quota, highlighting strong retail investor confidence. The allotment of IPO shares will be finalized by December 16th, with trading set to begin on the NSE Emerge on December 18th.
Grey market participants are already trading the shares at a reported 30 percent premium over the upper price band. Supreme Facility Management plans to utilize the IPO proceeds for working capital, inorganic initiatives, and general corporate purposes. The company’s strong IPO performance reflects the growing demand for facility management services in India.
First Piper 