Vegorama Punjabi Angithi is set to debut its shares on the BSE SME platform today, May 27, with a grey market premium suggesting a listing price of around Rs 86.
The IPO, which opened for subscription from May 20 to May 22, raised approximately Rs 38.38 crore, comprising a fresh issue of 39.87 lakh shares and an offer for sale of 9.96 lakh shares.
The company had set the price band at Rs 73-77 per share, finalizing the issue price at Rs 77. Ahead of the IPO, Vegorama Punjabi Angithi secured around Rs 10.9 crore from anchor investors. The company, operating in the vegetarian dining segment, plans to utilize the proceeds for business expansion and general corporate purposes.
The grey market premium (GMP) indicates positive investor sentiment, reflecting continued interest in SME IPOs despite market volatility. Corporate Makers Capital served as the book-running lead manager, with Bigshare Services as the registrar and Pace Stock Broking Services as the market maker.
Grey market premiums, while indicative of investor sentiment, do not guarantee actual listing performance. Investors remain optimistic about the potential growth in the SME sector, as evidenced by the positive GMP for Vegorama Punjabi Angithi.
Background
Vegorama Punjabi Angithi operates in the food and restaurant segment, focusing on vegetarian dining formats. The positive GMP reflects continued investor appetite for SME IPOs despite broader market volatility and selective participation in smaller public issues.
As Vegorama Punjabi Angithi lists today, market participants will be closely watching its performance to gauge the appetite for SME IPOs amid current market conditions.
