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The Economic Times

Business

Ritesh Presswala

ArMee Infotech IPO Day 3: Issue sees 2.44x subscription; GMP at 5%

GMP IPO Anand Rathi Anand Rathi Research NSE

The ArMee Infotech IPO entered its third and final day of bidding on Friday, September 25, with the issue witnessing moderate investor interest. The ArMee Infotech IPO received a decent response from investors and was subscribed 2.44 times, against the 74.30 lakh shares on offer, according to NSE data.

In the grey market, the IPO is currently commanding a GMP of around 5%, indicating expectations of a modest premium over the issue price, based on the prevailing unofficial market indicator.

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