Check GMP, subscription status, and other important information when Door Concepts' IPO debuts

 Check GMP, subscription status, and other important information when Door Concepts' IPO debuts

The subscription period for On Door Concepts Limited's initial public offering (IPO) began today, October 23, and ends on October 27, a Friday. The pricing range for On Door Concepts IPO is set at 208. Investors may make a minimum bid of 600 shares and a number more than that.

The equity shares have a face value of 10 apiece, and the issue price is 20.8 times that amount.

The e-commerce portal Ondoor Concepts sells goods and supplies for the home. In January 2015, the firm opened an office in Bhopal, Madhya Pradesh. As of March 31, 2023, the firm has created 55 locations, 17 of which it owned and ran in different cities around Madhya Pradesh. The franchisee concept is used to run 38 sites.

NSB BPO Solutions Private Limited, Pramod Ramdas Ingle, Narendra Singh Bapna, Vaishali Ingle, and Swati Bapna are the company's proprietors.

The ownership pattern of the promoters and promoter group was 51.92% before to the issuance and is fixed at 38.14% after the issuance.

Details of the On Door Concepts Ltd IPO

According to the Red Herring Prospectus (RHP), the On Door Concepts IPO, valued 31.18 crore, is entirely a new issuance of 1,498,800 equity shares; there is no offer for sale (OFS) component.

In cooperation with the issue's lead manager, the business completed a Pre-IPO Placement of 2,85,200 equity shares at the issue price of $259 per share.

The firm will utilize the money raised from the new issuance to supplement its additional working capital needs as well as for general corporate reasons.

Bigshare Services Pvt Ltd is the registrant for the On Door Concepts IPO, while First Overseas Capital Limited is the book running lead manager. The market maker for the first public offering of On Door Concepts is Bhh Securities.

According to sources, On Door Concepts Limited's sales increased by 3.93% in the fiscal years ending March 31, 2022, and March 31, 2023, but its profit after tax (PAT) declined by 343.25%.

The firm is in the retail industry, hence it chose Osia Hyper Retail Limited from that industry.

On Day 1 of the On Door Concepts Limited first public offering, the subscription status was 36%. According to statistics on Chittorgarh.com, the offer drew moderate interest from ordinary investors, whose share set was subscribed 61%, and lukewarm interest from non-institutional purchasers, whose portion set was subscribed 12%.

At 12:40 IST, data from chittorgarh.com shows that the business has received bids for 5,15,400 shares vs the 14,12,400 shares that are being offered.

Today's Grey Market Premium (GMP) or On Door Concepts Limited IPO GMP is +30. According to investorgain.com, this means On Door Concepts' stock price was selling at a premium of $30 on Monday.

The expected listing price of Door Concepts shares was indicated at 238 per share, which is 14.42% more than the IPO price of 208. This was determined by taking into account the top end of the IPO pricing range and the existing premium on the grey market.

Investors' willingness to pay more than the issue price is indicated by the term "grey market premium."