Last day! Sat Kartar Shopping IPO ends today: 63x subscription, GMP up 37%

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Sat Kartar Shopping IPO GMP Zooms: The unlisted shares of Sat Kartar Shopping commanded a solid premium in the grey market on the last day of the subscription window for its initial public offering (IPO). Rs 33.80 crore SME offering of Sat Kartar Shopping, which opened for subscription on Friday, January 10, 2025, is set to conclude today, Tuesday, January 14, 2025. 

 

Sat Kartar Shopping IPO, available at a price band of Rs 77-81 per share with a lot size of 1,600 shares, has been oversubscribed by 63.20 times as of 11:51 AM on Tuesday, according to data available on the National Stock Exchange (NSE).   

 

Meanwhile, sources tracking unofficial market activities revealed that the unlisted shares of Sat Kartar Shopping were trading at Rs 111 apiece, reflecting a grey market premium (GMP) of Rs 30 or 37.04 per cent over the upper end of the issue price of Rs 81.

 

As the public offering closes for subscription today, January 14, the basis of allotment for Sat Kartar Shopping IPO shares is expected to be finalised tentatively on Wednesday, January 15, 2025. Successful allottees will receive shares in their demat accounts by Thursday, January 16, 2025.

 

Shares of Sat Kartar Shopping are expected to list on the NSE SME platform tentatively on Friday, January 17, 2025.

 

Skyline Financial Services is the registrar for the issue, while Narnolia Financial Services is the sole book-running lead manager.

 

The public offering comprises an entirely fresh issue of 41,72,800 equity shares. According to the red herring prospectus (RHP), the company plans to use the proceeds from the net issue for purposes including unidentified acquisitions (in India or abroad), marketing and advertisement, capital expenditure, investment in technology, general corporate purposes, and issue expenses.

 

Sat Kartar Shopping is engaged in the Ayurveda healthcare sector, offering natural wellness solutions related to specific therapeutic areas and general lifestyle products. Initially, the company also dealt in spiritual product lines but has shifted its focus to Ayurveda, as stated in the RHP.