The SME initial public offering (IPO) of Hamps Bio was fully subscribed on the second day of bidding, with a total subscription of 23.92 times by 10:17 AM on December 15. The company is looking to raise Rs 6.2 crore through this issue, which will be listed on the BSE SME platform. The IPO will close on December 17, 2024.
Strong Investor Demand:
Retail investors showed a strong interest, with their portion being subscribed 39.99 times, while non-institutional investors (NIIs) subscribed 7.82 times on the first day of the bidding.
Grey Market Premium (GMP):
Ahead of the issue, Hamps Bio’s shares were trading at a GMP of 78.4% in the unlisted market, with a price of Rs 91 per share, compared to the upper end of the IPO price band of Rs 51.
IPO Details:
- Issue Size: Rs 6.22 crore
- Price Band: Rs 51 per share
- Shares Offered: 12.2 lakh shares
- Lot Size: 2000 shares per lot
- Issue Structure:
- 50% reserved for Qualified Institutional Buyers (QIBs)
- 35% reserved for Retail Investors
- 15% reserved for Non-Institutional Investors (NIIs)
Key Dates:
- IPO Opening Date: December 13, 2024
- IPO Closing Date: December 17, 2024
- Final Allotment Date: December 18, 2024
- Listing Date: December 20, 2024 on the BSE SME platform
Use of Proceeds:
The net proceeds from the issue will be used for purchasing plant and machinery for Hamps Bio’s FMCG division, enhancing brand visibility, and other general corporate purposes.
About Hamps Bio:
Founded in 2010, Hamps Bio is involved in the ethical marketing and distribution of a wide range of pharmaceutical products, including tablets, syrups, capsules, injectables, and nutritional supplements. The company also manufactures freeze-dried and frozen products.
Industry Overview:
India is a global leader in the pharmaceutical and vaccine industries, contributing 20% of the global supply volume and supplying around 60% of global vaccines.
Financial Performance:
For the six-month period ending October 2024, Hamps Bio reported revenue of Rs 4.36 crore and a net profit of Rs 34 lakh.
Lead Managers and Registrar:
- Lead Manager: Marwadi Chandarana Intermediaries
- Registrar: Bigshare Services
This strong subscription rate highlights investor confidence in Hamps Bio, with the company poised for a successful listing on the BSE SME platform.
