Classic Electrodes IPO Subscription Update – Day 1
You Might Be Interested In
Hey! Here’s a quick update on the Classic Electrodes IPO subscription on the first day. The IPO was subscribed 1.62 times overall, which means more than one and a half times the shares were applied for.
If you are a retail investor (that means people like you and me), the portion reserved for you was subscribed 2.15 times, so there’s a lot of interest! The non-institutional investors (these are big buyers but not big institutions) booked their share 1.16 times.
You Might Be Interested In
The qualified institutional buyers (QIBs), which are big companies and funds, subscribed just over 1 time (1.03x), so they showed some interest but not as much as retail investors.
By 3:30 pm on the first day, the company had received bids for 50,86,400 shares, while only 31,47,200 shares were available. This means many investors want to buy more shares than the company is offering!
Classic Electrodes IPO: What Will The Money Be Used For?
So, Classic Electrodes is raising money through their IPO, and you might wonder, what will they do with all that money? Here’s a simple breakdown!
First, some of the money will be used to buy new machines and improve their factories. This is called financing capital expenditure, and it helps the company make better products and grow.
Second, they will use some money to pay off any debts they still owe. This helps the company stay financially healthy and avoid problems.
Third, portion of the money will support working capital needs. Which means it helps the company pay for daily expenses like buying raw materials or paying employees.
Finally, some funds will cover general corporate expenses, which include all other costs to keep the company running smoothly.
Overall, the money raised will help Classic Electrodes improve, grow, and stay strong!
Classic Electrodes IPO Grey Market Premium (GMP)
-
GMP today is +20, indicating shares are trading at a ₹20 premium in the grey market (source: investorgain.com).
-
Considering the upper IPO price band of ₹87 and the ₹20 premium, the estimated listing price could be around ₹107, which is approximately 22.99% higher than the IPO price.
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
Always bold with her opinions, she also never misses the chance to weave in expert voices, keeping things balanced and insightful. In short, Aishwarya brings a fresh, sharp, and fact-driven voice to every story she touches.
You Might Be Interested In
