Coaching services provider Veranda Learning Solutions is expected to finalize the allocation of shares offered under its initial public offering (IPO) on Tuesday. The Veranda Learning stock is expected to list on the BSE and NSE exchanges on April 7.
The Veranda Learning Solutions IPO – which was open for auction from March 29 to March 31 – saw an overall subscription of 2.2 times.
Here’s how different categories of investors reacted to Veranda’s IPO:
|Category||Subscription (Number of times shares offered)|
The shares were available at auction in a price range of Rs 130-137 in multiples of 100. At the upper end of the price range, one lot cost potential investors Rs 13,700.
How to Check Assignment Status
Those who had applied for the Veranda Learning Solutions IPO can check the award status of their applications online, through BSE’s website or that of the Registrar, KFintech.
How to check award status on the ESB website
How to Check Award Status Through the Registrar’s Website
The shares will likely be credited to the demat accounts of successful bidders and the funds likely to be credited to the bank accounts of others by April 6.
Gray Market Premium (GMP)
|Dated||GMP (in rupees)|
|Source: IPO Watch|
“The integrated learning solutions player received a lackluster response from QIB and HNI investors. The issue price seemed expensive, as the asking rate was nearly 25 times the price-to-sales ratio of a loss-making company,” said Abhay Doshi, co-founder of Unlisted Arena, a portal that tracks gray markets. and trades in unlisted securities, Told CNBCTV18.com.
Doshi said he would not be surprised if the quote occurs in a flat to negative zone (discount to the issue price).