The IPO of Utkal Speciality Industries India opened for subscription on Wednesday, seeking to raise Rs 34.5 crore through a fresh issue of shares. The SME issue, which will close on June 12, is priced in the range of Rs 62-66 per share and will be listed on the NSE SME platform. The company has fixed the lot size at 2,000 shares, requiring a minimum investment of Rs 2.64 lakh for retail investors at the upper end of the price band.
Despite the issue opening for subscription, the stock is currently commanding zero grey market premium (GMP), indicating a muted listing expectation in the unofficial market. At the current GMP, the shares are expected to list around the issue price of Rs 66, although grey market trends can change significantly before listing.
