The initial public offering (IPO) of industrial gas supplier Steamhouse India saw a pick-up in demand on the second day of bidding, with the issue receiving 90 percent subscription as of 12:20 pm on September 10, according to NSE data.
In the grey market, Steamhouse India shares were commanding a premium of 25 percent on September 10, 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.
The IPO opened for public subscription on September 9 and will close 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.
Singularity Large Value Fund III, managed by Madhusudan Kela-mentored Singularity AMC, and Kela-backed Chartered Finance & Leasing were the largest anchor investors. Each acquired 51.97 lakh shares for Rs 42.09 crore.