Robokidz Eduventures IPO was fully subscribed within the first hour of bidding on September 21, with the issue receiving 1.38 times subscription by 11 am, according to the latest figures reported that morning.
The IPO will remain open until September 23.
The SME issue has also been trading at a grey market premium (GMP) of ₹51 per share. GMP is an unofficial market indicator and does not guarantee the actual listing price or gains.
Robokidz Eduventures IPO Subscription Details
Robokidz Eduventures IPO received 2.20 times subscription in the retail category and 1.29 times in the non-institutional investor category by 11 am.
The qualified institutional buyer category had not received bids at that point.
The company has fixed the price band at ₹100 to ₹106 per share.
The IPO has a lot size of 1,200 shares, while retail investors need to apply for at least two lots, requiring a minimum investment of ₹2,54,400 at the upper price band.
Robokidz Eduventures IPO and ₹51 GMP
Robokidz Eduventures IPO has recorded a GMP of ₹51, compared with ₹45 reported previously. At the upper price band of ₹106, the latest GMP indicates an unofficial estimated listing price of ₹157.
However, GMP operates outside the formal stock market and can change before listing. It should therefore not be treated as a guarantee of the actual listing price or returns.
Issue Size and Use of Funds
The Robokidz Eduventures IPO is a ₹31.09 crore issue consisting entirely of a fresh issue of 29.33 lakh shares. Existing shareholders are not offering shares through the issue.
The company plans to use ₹23.46 crore of the proceeds for working capital requirements.
Another ₹2.20 crore is intended for repayment or partial repayment of existing debt, while the remaining funds are earmarked for general corporate purposes.
IPO Dates and Proposed Listing
The IPO opened for public subscription on September 21 and will close on September 23.
The basis of allotment is expected to be finalised on September 24, followed by refunds and credit of shares on September 25.
The shares are scheduled to be listed on the BSE SME platform on September 28.
The issue had earlier opened for anchor investors on September 18 and raised ₹8.78 crore from them.
