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Patil Automation IPO Day 1 subscription status: The initial public offering of Patil Automation opened for bidding today June 16, 2025. The SME offering is receiving a muted response from investors as the issue was subscribed around 35 per cent only as of 2:15 PM, according to data from the National Stock Exchange (NSE).
The company has allocated not more than 50 per cent of the issue to qualified institutional buyers (QIBs), not less than 35 per cent to retail investors, and 15 per cent to non-institutional investors (NIIs).
Patil Automation IPO grey market premium (GMP)
Post-opening, the unlisted shares of Integrity Infrabuild Developers were trading at ₹142, reflecting a premium of ₹22 or 18.3 per cent compared to the upper price band of ₹120, according to the sources tracking unofficial markets.
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Patil Automation IPO details
Patil Automation aims to raise ₹69.61 crore through a fresh issue of 5.8 million equity shares. There is no offer-for-sale component. The three-day subscription window to bid for the public issue will close on Wednesday, June 18, 2025. The basis of allotment of shares is likely to be finalised on Thursday, June 19, 2025. Shares of Patil Automation will be listed on the NSE SME platform tentatively on Monday, June 23.
The company has set the price band in the range of ₹114 to ₹120 per equity share and lot size at 1,200. A retail investor would require a minimum investment amount of ₹1,44,000 to bid for at least one lot at the upper price band. The minimum investment amount required for high net-worth individuals (HNIs) is ₹2,88,000 for two lots.
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Purva Sharegistry is the registrar of the issue. Seren Capital is the book-running lead manager.
According to the red herring prospectus (RHP), the company aims to use the net issue proceeds for capital expenditure towards the setup of a new manufacturing facility and repayment of a portion of certain borrowings and general corporate purposes.
About Patil Automation
Incorporated in 2015, Patil Automation is an automation solutions provider serving industrial clients, primarily in the automotive sector. The company is engaged in designing, manufacturing, testing and installing customised automation systems such as welding lines (spot welding, MIG and TIG), assembly lines, material handling machinery and special-purpose machinery, tailored to meet the specific requirements of its clients' production facilities. Its client base primarily comprises Automotive Original Equipment Manufacturers (OEMs), Tier I suppliers to Automotive OEMs and manufacturers of automotive components and sub-components. Its manufacturing facility is located in the MIDC Chakan area of Village Sudumbre, Tehsil Maval, District Pune in Maharashtra.
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