Emmforce Autotech IPO Opens on 23 April 2024 GMP gives 102 percent premium listing hint know details

Emmforce Autotech IPO: The IPO of Amforce Autotech Limited, an auto component manufacturing company, has opened today i.e. on Tuesday, 23 April. This is an SME IPO through which the company is trying to raise Rs 53.90 crore. The face value of the company's shares is Rs 10 per share. Even before opening, this IPO is trending with huge premium on GMP.

When can you invest money in IPO?

The IPO of Amforce Autotech has opened today i.e. 23rd April 2024. Investors can invest in this IPO till 25 April 2024. The company is selling 5,499,600 shares through this IPO. The company is issuing completely fresh shares through IPO. The price band of the company's shares has been fixed between Rs 93 to Rs 95 per share.

When will the shares be listed?

The allotment of shares of Amforce Autotech Limited is going to happen on 26 April 2024. Whereas unsuccessful investors will get refund on April 29. The shares will be transferred to the demat account on April 29. The listing of shares will take place on 30 April 2024. The company has fixed a lot size of 1200 shares. In such a situation, retail investors can bid Rs 1,17,600 at a time. In this IPO, 50 percent share in the IPO has been reserved for qualified institutional buyers, 35 percent share for retail investors and 15 percent share for non-institutional buyers.

The company is giving indications of strong GMP-

Shares of Amforce Autotech Limited are indicating a strong premium on GMP. According to investorgain.com, the company's shares are trending on the gray market at a premium of Rs 100 i.e. 102.04 percent. In such a situation, if this situation persists on the day of listing, then the shares can be listed at Rs 198.

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