EAAA India Alternatives Share Price: Shares of EAAA India Alternatives, an alternative investment management platform, made their stock market debut at a slight premium to the issue price of Rs 1,665 on Monday, listing on both the National Stock Exchange (NSE) and the BSE.
EAAA India Alternatives shares were listed at Rs 1,675.50 on the NSE, a premium of Rs 10.50 or 0.6 per cent over the issue price. On the BSE, the stock listed at Rs 1,673, representing a premium of 0.5 per cent.
EAAA India Alternatives IPO Subscription Status
The EAAA India Alternatives IPO received 2,78,19,540 bids against 52,99,684 shares on offer at the end of Day 3, according to subscription data available on the NSE’s official website.
The subscription was led by Qualified Institutional Buyers (QIBs), followed by Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs).
The category-wise subscription details were as follows:
- Qualified Institutional Buyers (QIBs): 13.13x
- Non-Institutional Investors: 4.58x
- Retail Individual Investors (RIIs): 1.03x
EAAA India Alternatives IPO GMP
Ahead of the listing, the grey market premium (GMP) for the EAAA India Alternatives IPO stood at Rs 54 in the unlisted market.
With the IPO’s upper price band set at Rs 1,665, the estimated listing price stood at Rs 1,719, based on the prevailing GMP. This indicated a potential listing gain of 3.24 per cent if the premium had sustained.
However, the IPO’s GMP declined from Rs 121 on October 23 to Rs 54 ahead of the listing, indicating a reduction in the premium in the unlisted market.
EAAA India Alternatives IPO Details
The EAAA India Alternatives IPO was a book-built issue worth Rs 1,200.00 crore. The issue comprised an offer for sale (OFS) of 72.07 lakh shares worth Rs 1,200.00 crore.
As the IPO was a 100 per cent offer for sale, the company will not receive any funds from the issue. The entire IPO proceeds will go to the selling shareholders.
Axis Capital Ltd. was the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. was the registrar.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)