The initial public offering (IPO) of Swastika Castal has been fully subscribed on Day 2, attracting strong investor interest across segments.
The initial public offering (IPO) of Swastika Castal has been fully subscribed on Day 2, attracting strong investor interest across Retails Investors and Non-Institutional Investors. The ₹14 crore public issue, which opened on July 21, will remain open for bidding until July 23.
The strong demand indicates rising confidence in the company’s long-term prospects.
The details about the IPO are as follows:
• Price Band: ₹65 per share
• Minimum Investment: ₹1,30,000
• Lot size: 2,000 shares
• Maximum Lot: 3
• Bid Opening Date: July 21
• Bid Closing Date: July 23
• Allotment Date: July 24
The subscription details for the second day are hereunder:
Subscription Status on Day 2
As of the second day of bidding, the IPO has been subscribed 2.77x overall. Key subscription data includes:
• Retail Investors: 4.48x
• Qualified Institutional Buyers (QIBs): 0.00x
• Non-Institutional Investors (NIIs): 1.36x
About Swastika Castal
Swastika Castal Ltd. was founded in 1996 but the company began its operations in 1997. The company specializes in aluminium casting and is based in Kolkata, West Bengal. Its corporate office is in Gujarat, with manufacturing operations there. Swastika Castal exports products to the US and Europe, serving major clients like Hitachi, Toshiba, ABB, SIEMENS, and GE.
(Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Before making any investment, conduct thorough research and consult a financial advisor.)
Also Read: IPO Fever Ignites Dalal Street: 10 Must-Watch IPOs & Listings Set for Next Week
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
He is committed to entrenched data, facts, research, solutions, and a dedication to value-based journalism. He has covered trade tariff wars, international alliances, corporate policies, government initiatives, regulatory developments, along with micro- and macroeconomic shifts impacting global fiscal dynamics.
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