The initial public offering (IPO) of TBI Corn, a corn milling company, has received strong investor interest on its first day of bidding. As of May 31, 2024, the issue is subscribed over 3 times, indicating strong demand for the company’s shares.
Here’s a breakdown of the subscription details:
- Total Subscription: Over 3 times
- Retail Investor Portion: Subscribed 16.97 times
- Non-Institutional Investor (NII) Portion: Subscribed 2.70 times
- Number of Bids: 1,18,86,000 shares against the offer size of 31,82,400 shares
This strong response suggests that investors are optimistic about TBI Corn’s future prospects. The company is a leading player in the corn milling industry, specializing in high-quality corn grits and related products.
Additional details about the TBI Corn IPO:
- Price Band: Rs 90-94 per share
- Lot Size: 1200 shares
- Bidding Closes: June 4, 2024
- Listing: Expected on June 7, 2024 on the NSE SME platform
Grey Market Premium (GMP):
The current grey market premium (GMP) for TBI Corn is Rs 95. It’s important to remember that GMP is an unofficial indicator of the expected listing price and not a guarantee of the actual price.
Overall, the TBI Corn IPO has generated significant investor interest and is likely to be a successful offering.