Investor interest in the OBSC Perfection IPO was low; as of 3:30 p.m. today, the issue had only been subscribed for 0.23 times since it opened for sale on Tuesday, October 22. Only 0.35 times as many people subscribed to the retail investor component, compared to just 0.09 times for the non-institutional investor (NII) section.
The qualified institutional buyer (QIB) segment has not yet received bids.
The business plans to use the issue’s net proceeds for several important initiatives. In addition to meeting the company’s working capital needs and basic corporate goals, it seeks to finance the capital expenditures necessary to purchase machinery at its current manufacturing sites.
OBSC Perfection issue details
1. Date of OBSC Perfection IPO: On Tuesday, October 22, the issue became live for subscriptions, and it will end on Thursday, October 24.
2. OBSC Perfection IPO pricing: ₹95 to ₹100 per equity share is the pricing range for the public offering.
3. The OBSC Perfection IPO Size: The business plans to offer 66.02 lakh shares to raise 66 crore.
4. OBSC Perfection IPO Lot Size: Retail investors must deposit a minimum of ₹1,20,000 to participate in the IPO, with a fixed lot size of 1200 shares.
5. OBSC Perfection IPO reservation: Qualified institutional buyers can purchase 12.5 lakh shares, non-institutional purchasers can purchase 9.4 lakh shares, and regular investors can purchase 21.94 lakh shares.
6. IPO allotment date for OBSC Perfection: Friday, October 25 is the IPO allotment date. By Monday, October 28, investors who obtain an allotment will be able to view the shares in their demat accounts; those who do not will process their refunds that same day.
7. OBSC Perfection IPO listing: On Tuesday, October 29, the SME IPO is suggested for listing on the NSE SME.
8. Market sources indicate that OBSC Perfection Exports’ IPO GMP on Tuesday was zero, indicating that the IPO might list at its issue price.
9. OBSC Perfection IPO book-running lead manager and registrar: Bigshare Services Pvt Ltd is the issue’s registrar, and Unistone Capital Pvt Ltd is the book-running lead manager for the OBSC Perfection IPO. R.K. Stock Holding is the market maker for the OBSC Perfection IPO.
10. Business summary of OBSC Perfection: The company is a manufacturer of precision metal components that provides a wide range of high-quality engineered parts for end-user industries and regions. It mainly serves leading original equipment manufacturers (“OEMs”) that provide a range of parts and components to leading Indian automakers.
It serves the defence, maritime, and telecommunications infrastructure makers in the non-automotive industry.
