The initial public offering (IPO) of Crystal Crop Protection is all set to open for subscription on Wednesday, November 18. The IPO’s grey market premium (GMP) hints at 5.15% listing gain for investors. The IPO is a combination of fresh issue and offer for sale (OFS).
Valuing at approximately ₹4,438 crore at the upper end of the price range, Crystal Crop IPO subscription process will begin on Wednesday and conclude on Friday. Here are all the details about the IPO and a calculation of how much profit investors are expected to make based on the latest GMP.
Crystal Crop Protection’s last recorded grey market premium (GMP) stood at ₹14. With its upper price band fixed at ₹272 per share, the estimated listing price for Crystal Crop Protection IPO stood at ₹286 per share (which is the sum of upper price band and latest GMP), indicating an estimated listing gain for Crystal Crop Protection IPO at 5.15%.
The IPO's issue price band is fixed at ₹259 - ₹272 per share. The lot size for an application is 55 shares. The minimum amount of investment required by an individual investor (Retail) is ₹14,960 (for 55 shares). Retail investors can apply for maximum 13 lots, ie 715 shares (equivalent to ₹1,94,480). Small High-Net-Worth Individual (SHNI) are required to invest 14 lots, ie 770 shares (worth ₹2,09,440)
Based on the latest IPO GMP (at 6 pm on November 15), retail investors are expected to earn a profit of ₹770 (for 1 lot) and ₹10,010 (for 13 lots).