By {Sandeep Bishnoi} | 21 Oct, 2024
Usha Financial Services IPO sees a jump in grey market premium (GMP) from ₹18 to ₹40 after revealing its price band. The SME IPO aims to raise ₹98.45 crore and opens for subscription on October 24, 2024.
Usha Financial Services IPO: GMP Jumps as Price Band Announced
The Usha Financial Services IPO has captured the attention of investors, especially after its grey market premium (GMP) surged significantly. The GMP, which stood at ₹18, has now shot up to ₹40 after the company officially declared its price band. This signals growing interest in the IPO as it prepares to open for subscription.
Key Details of the Usha Financial Services IPO:
- IPO Dates: Open for subscription from October 24, 2024, to October 28, 2024.
- Price Band: ₹160 to ₹168 per share.
- Lot Size: 800 shares per lot.
- IPO Size: ₹98.45 crore, with a fresh issue of 58.6 lakh shares.
- Market Platform: NSE SME platform.
- Net Worth: Usha Financial Services’ net worth rose to ₹10,602.63 crore in FY24, up from ₹8,207.38 crore in FY23.
About Usha Financial Services
Founded in 1955, Usha Financial Services is a well-established non-banking financial company (NBFC) based in Delhi. The company provides financial solutions to NBFCs, MSMEs, and individuals, with a strong focus on empowering women entrepreneurs and supporting electric vehicle financing. Over the years, it has built a solid reputation in offering innovative and inclusive financial services.
Breakdown of the IPO
The Usha Financial Services IPO consists entirely of a fresh issue of 58.6 lakh shares. Retail investors can bid for a minimum of 800 shares, amounting to an investment of ₹1,34,400. High-net-worth individuals (HNIs) will need to subscribe to at least two lots (1600 shares), with an investment of ₹2,68,800.
The shares are scheduled for allotment on October 29, 2024, with refunds to be processed by October 30. Investors can expect shares to be credited to their demat accounts on the same day, and the IPO will likely list on the NSE SME platform on October 31.
Grey Market Premium (GMP) Surge
The grey market premium (GMP) is an indicator of market sentiment before an IPO’s listing. For Usha Financial Services, the GMP has increased from ₹18 to ₹40 after the announcement of the price band, indicating positive market buzz and high investor demand.
Important Dates for Investors
- IPO Opening Date: October 24, 2024
- IPO Closing Date: October 28, 2024
- Allotment Date: October 29, 2024
- Refund Date: October 30, 2024
- Listing Date: October 31, 2024
Investors interested in participating must ensure they confirm their UPI payment mandates by 5 PM on October 28 to secure their spot in the IPO.
Conclusion
With its price band now declared and a surge in GMP, Usha Financial Services IPO is generating significant interest in the market. The company’s strong track record, especially its focus on women entrepreneurs and electric vehicle financing, adds to its appeal. Investors looking for an opportunity in the financial services sector may find this IPO worth considering. However, it’s always advisable to consult with financial experts before making any investment decisions.
Key Points:
- Usha Financial Services IPO GMP jumps from ₹18 to ₹40 after the price band announcement.
- IPO price band set at ₹160-₹168 per share, with a lot size of 800 shares.
- The IPO aims to raise ₹98.45 crore and will open for subscription on October 24, 2024.
- Usha Financial Services focuses on supporting women entrepreneurs and EV financing.
- Allotment of shares is scheduled for October 29, with listing expected on October 31, 2024.
Disclaimer:
The views expressed in this article are based on market trends and publicly available information. Always consult with certified financial advisors before making investment decisions.
