Patil Automation IPO Day 3 update: Subscription rises 25x, GMP hits 20%

Patil Automation IPO Day 3 subscription status: The company has received bids for 10,36,15,200 shares against 41,49,600 shares on offer

Patil Automation IPO Day 3 subscription status: The three-day bidding period for Patil Automation's initial public offering (IPO) is scheduled to conclude today, Wednesday, June 18, 2025. The SME IPO has garnered strong investor interest so far, with subscription levels exceeding 24.9 times.

 

According to the National Stock Exchange (NSE) data as of 2 PM on Wednesday, Patil Automation has received bids for 10,36,15,200 shares against 41,49,600 shares on offer. 

Patil Automation IPO grey market premium (GMP)

The unlisted shares of Patil Automation were trading at ₹144 in the grey market, commanding a premium of ₹24 or 20 per cent compared to the upper price band of ₹120 per share, according to sources tracking unofficial markets. 

 

Patil Automation IPO details

Patil Automation IPO opened for public subscription on Monday, June 16. Once the subscription concludes, the basis of allotment of shares is expected to be finalised on Thursday, June 19. Patil Automation shares are scheduled to be listed on the NSE SME platform on Monday, June 23. 

 

The company aims to raise ₹66.10 crore through a fresh issue of 5.5 million equity shares. Patil Automation has set the price band in the range of ₹114 to ₹120, with a lot size of 1,200 shares. A retail investor would require a minimum investment amount of ₹1,44,000 to bid for one lot at the upper price band. The minimum investment required for high net-worth individuals is ₹2,88,000 for a minimum of two lots.  

 

Purva Sharegistry is the registrar of the issue. Seren Capital is the sole book-running lead manager. 

 

According to the red herring prospectus (RHP), the company intends to use the net issue proceeds for funding capital expenditure towards the setup of a new manufacturing facility, repayment of certain borrowings availed by the company 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 installation of customised automation systems such as welding lines (spot welding, MIG and TIG), assembly lines, material handling machinery and special-purpose machinery. Its client base includes Automotive Original Equipment Manufacturers (OEMs), Tier I suppliers to Automotive OEMs and manufacturers of automotive components and sub-components. The company's manufacturing facility is located in Pune, Maharashtra.