The initial public offering (IPO) of industrial gas supplier Steamhouse India continued its momentum on the third day of bidding, with the issue receiving 3.35 times subscription as of 10:40 am on September 11, according to NSE data.
In the grey market, Steamhouse India shares were commanding a premium of 28.40 percent on September 11, according to InvestorGain. The grey market premium (GMP) is an unofficial indicator of investor sentiment and does not guarantee the company's listing price or returns.
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The IPO opened for public subscription on September 9 and will close today, on September 11. The Rs 414-crore IPO has a price band of Rs 77-81 per share. The issue comprises a fresh issue of shares worth Rs 353 crore and an offer-for-sale (OFS) of shares worth Rs 61 crore by promoter Vishal Sanwarprasad Budhia.
Ahead of the IPO, Steamhouse India raised Rs 124.2 crore from six anchor investors. The company allotted 1.53 crore equity shares to anchor investors at the upper end of the price band.