Business: The IPO of Precision Components Engineering, a company that makes precision components, opened on September 2. This is the first IPO of this month. Through this IPO, the company is trying to raise Rs 167.93 crore. The face value of the company's shares is Rs 10 per share. As soon as the IPO opened, investors pounced on it and it has become completely full. If you are also thinking of investing money in it, then we are giving you information about its details like price band, GMP etc.

The company fixed this much price band

The company has fixed the price band of the shares between Rs 503 and Rs 529 per share. Through this IPO, the company is trying to raise a total of Rs 167.93 crore. In this, fresh shares worth Rs 135.34 crore and shares worth Rs 32.59 crore have been issued under the offer for sale. In this IPO, retail investors can invest in a lot of at least 28 shares. At the same time, a maximum bid can be placed on a maximum of 13 shares, i.e. a total of 364 shares. In such a situation, you can bid from Rs 14,812 to Rs 1,92,556 in the IPO. Let us tell you that the shares will be listed on NSE and BSE.

Know important dates related to IPO

• IPO opening date- Monday, 2 September 2024
• IPO closing date- Wednesday, September 4, 2024
• Date of allotment of shares- Thursday, September 5, 2024
• Date to receive refund- Friday, 6 September 2024
• Date for crediting shares to demat account- Friday, September 6, 2024
• Listing date - Monday, September 9, 2024

Got a strong response from investors on the very first day 

Precision Components Engineering's IPO has received a strong response from investors. The IPO was fully subscribed within a few hours of opening on the first day. Qualified institutional buyers subscribed their quota 0.94 times, non-institutional buyers 6.84 times, retail investors 6.10 times and company employees subscribed their quota 20.39 times. Overall, the IPO has been subscribed 4.68 times till 1.30 pm.

GMP is giving indications of strong earnings

The IPO is showing signs of good earnings in the grey market. The IPO is trending at a premium of Rs 268 i.e. 50.66 percent. If this situation remains till the day of listing, then the company's shares can be listed at Rs 797. In such a situation, it can make investors earn good money on the very first day.