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Swastika Infra IPO Subscribed 1.64x on Day 2; GMP at Rs 6
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Moneycontrol•24-09-2026, 17:43
Swastika Infra IPO Subscribed 1.64x on Day 2; GMP at Rs 6
- •Swastika Infra's IPO saw 1.64 times subscription on Day 2, with bids for over 1 crore shares against 63.35 lakh on offer.
- •Non-institutional investors led the demand, subscribing 2.58 times, followed by retail investors at 1.59 times.
- •The Rs 161-crore IPO, with a price band of Rs 175-185 per share, closes on September 25 and will list on BSE and NSE on September 30.
- •The grey market premium (GMP) for Swastika Infra shares was around Rs 6, indicating a 3.24% premium over the issue price.
- •Swastika Infra raised Rs 48.26 crore from six anchor investors, including Shine Star Build-Cap and Minerva Ventures, ahead of the public issue.
Key Questions Answered
The Rs 161-crore Swastika Infra IPO was subscribed 1.64 times by September 24 with a price band set at Rs 175-185 per share. The non-institutional investors portion led demand at 2.58 times subscription, while the retail category reached 1.59 times.
Swastika Infra successfully raised Rs 48.26 crore from six anchor investors ahead of its public issue. The company allocated 26.08 lakh shares to these anchor investors on September 22 at the upper end of the price band of Rs 185 per share.
Out of the net proceeds from the fresh issue, Swastika Infra plans to allocate Rs 90 crore toward meeting its incremental working capital needs. The remaining funds will be directed toward general corporate purposes.
