The Riyaasat Lifestyle IPO has received muted investor response, with 10% subscription recorded as of 11:45 AM on June 22, the final day of bidding. According to reports from Livemint, the public issue was booked 7% in the Retail Individual Investors segment, while the Qualified Institutional Buyers (QIB) category saw 1.01 times subscription. The Non-Institutional Investors (NII) segment remains yet to bid for the issue.
The SME IPO is priced in the ₹102 to ₹108 per share band, with an IPO lot size of 1,200 shares. As reported by Livemint, at the upper end of the price band, the company plans to raise ₹30.77 crore from the book-building issue, which is entirely a fresh issue of 28.48 lakh equity shares. The IPO opened for subscription on June 18 and closes today, June 22, with the allotment date scheduled for June 23 and listing date set for June 25.
Riyaasat Lifestyle shares are commanding no grey market premium (GMP) ahead of the share listing, according to websites tracking the grey market. According to Livemint reports, Riyaasat Lifestyle IPO GMP today is ₹0 per share, indicating that in the grey market, the shares are trading without any discount or premium to their IPO price. This GMP of ₹0 per share signals that the estimated listing price of the stock would be ₹108 apiece, which is equal to the issue price of ₹108 per share. The grey market premium remains volatile and can change multiple times during active IPO periods, with SME IPOs typically showing higher GMP percentages due to smaller issue sizes and demand from high net worth individuals.
Mark Corporate Advisors Pvt. Ltd. serves as the book running lead manager, while Skyline Financial Services Pvt. Ltd. acts as the registrar for the Riyaasat Lifestyle IPO. As reported by Livemint, the shares will be listed on the BSE SME platform following the completion of the bidding process. Grey market premiums for SME IPOs tend to be more volatile compared to mainboard IPOs, with the grey market often starting activity 1 to 2 weeks before the opening date and showing higher GMP percentages due to smaller issue sizes.
