The Rs 170 crore initial public offering (IPO) of Aastha Spintex entered its second day of bidding on Tuesday with the Grey Market Premium (GMP) hovering around 4%, indicating a modest listing premium if prevailing market sentiment remains intact. Based on the current GMP, the shares are estimated to list at around Rs 141, compared with the upper price band of Rs 136.
The IPO witnessed a steady response on the opening day, with the issue subscribed 88% overall. Investors bid for 1.19 crore shares against the 1.36 crore shares on offer. The Retail Individual Investors (RII) segment was subscribed 41%, with bids received against the 54.40 lakh shares reserved for the category.
