Last day! Samay Project IPO closes today; subscription rises 2x, GMP nil

Samay Project Services IPO Day 3 subscription status: The SME issue has received bids for 65,08,000 shares against 31,20,000 shares on offer

Samay Project Services IPO Day 3 subscription status: The three-day subscription window to subscribe the initial public offering (IPO) of the Engineering, Procurement, and Construction (EPC) services company, Samay Project Services, is scheduled to close today, June 18, 2025. The SME offering, which opened for bidding on Monday, June 16, has received a muted response from investors so far.

 

According to the National Stock Exchange (NSE) data as of 10:30 AM on Wednesday, Samay Project Services has received bids for 65,08,000 shares against 31,20,000 shares on offer, resulting in oversubscription of around 2 times.  

 

Samay Project Services IPO details

The SME public issue comprises a fresh issue of 4.09 million equity shares to raise ₹13.91 crore. There is no offer for sale (OFS) component. After the closing of subscription, the basis of allotment of shares is expected to be finalised on Thursday, June 19, 2025. Shares of Samay Project Services are scheduled to list on the NSE SME platform on Monday, June 23, 2025. 

 

The company has set the price band in the range of ₹32 to ₹34, with the lot size at 4,000 equity shares. A retail investor would need a minimum investment amount of ₹1,36,000 to bid for at least one lot. For high net-worth individuals, minimum investment amount required is ₹2,72,000 for two lots.

 

Bigshare Services is the registrar of the issue. Smart Horizon Capital Advisors is the sole-book running lead manager. 

Samay Project Services IPO objective

According to the red herring prospectus, the company intends to use the net issue proceeds for funding its working capital requirements and general corporate purposes.

Samay Project Services IPO GMP

The unlisted shares of Samay Project Services were trading flat at ₹34, the upper price band, according to the sources tracking unofficial markets 

About Samay Project Services

Established in 2001, Samay Project Services is primarily engaged in engineering, procurement, and services (EPC) services. It specializes in design, engineering, supply, fabrication, erection and commissioning of balance of plant (BOP) systems in various industries. It is involved in EPC projects which consists of Piping System, Tanks and vessels and fabricated structures; and fire protection and detection systems/firefighting systems.