Verify GMP, subscription status, and other important information once the SME issue for Transteel Seating Technologies opens

 Verify GMP, subscription status, and other important information once the SME issue for Transteel Seating Technologies opens

Transteel IPO: On Monday, October 30, subscriptions for the furniture business Transteel Seating Technologies Ltd.'s first public offering became available.

The public may still subscribe to Transteel Seating Technologies, a SME IPO, till November 1.

Let's examine the Transteel IPO specifics, the current GMP, and the subscription state:

Details of Transteel Seating Technologies' IPO

On Monday, October 30, the public may subscribe to Transteel Seating's initial public offering (IPO). It will end on Wednesday, November 1. On November 6, the business is anticipated to finalize the IPO allotment basis. On November 7, refunds are anticipated to begin, and on November 8, shares will be credited to the demat accounts of qualified investors.

A tentative listing date of November 9 has been set for the equity shares of Transteel Seating Technologies on the NSE SME.

The total value of Transteel Seating Technologies' initial public offering (IPO) is ₹49.98 crore, which is made up of an offer for sale (OFS) of 3.56 lakh shares, totaling ₹2.49 crore, and a new issuance of 67.84 lakh equity shares, totaling ₹47.49 crore.

The ₹67 to ₹70 price range per share has been determined for the IPO. Retail investors must deposit a minimum of ₹140,000, with lots of 2,000 shares in the IPO.

Bigshare Services a private company is the IPO registrar, while Gretex Company Services Ltd and Pantomath Capital Advisor Company Ltd are the book running principal managers of the Transteel IPO.

Subscription Status for Transteel Seating Technologies' IPO

The first day of the bidding process, Monday, saw a full subscription for Transteel Seating's first public offering. According to statistics available at 4:10 pm, the public offering has been booked 1.02 times so far, with bids for 46.58 lakh equity shares received compared to 45.66 lakh equity shares on offer.

Thus far, the IPO has received 1.68 subscriptions from regular investors and 0.92 subscriptions from non-institutional investors (NII).

IPO GMP for Transteel Seating Technologies Now

According to market experts, the grey market premium (GMP) for the Transteel IPO is now ₹21 per share. This shows that the shares of Transteel Seating Technologies are trading on the gray market for ₹21 more per than their issue price.

According to market watchers, the gray market premium on October 30 jumped from ₹19 per share the day before to ₹21.