Retail investors showed strong interest, with their portion subscribed 49.40 times, while the non-institutional buyers’ portion was subscribed 35.23 times. The QIB (Qualified Institutional Buyers) portion was subscribed 9.94 times.

Current Infraprojects IPO on Day 02: Issue subscribed 34 times; retail portion booked 50 times

Current Infraprojects IPO: Overwhelming Success Continues!

The Initial Public Offering (IPO) of Current Infraprojects, a promising SME company, has witnessed phenomenal success, extending its strong performance into its second day of bidding.

Launched on August 26th, the IPO was fully subscribed on its very first day, showcasing significant interest from both retail and non-institutional investors. This momentum continued unabated on day two.

The incredible demand resulted in an overall subscription of 34.14 times, with investors vying for a staggering 11.96 crore shares against the offered 35 lakh shares. Let's break down the impressive numbers:

Retail Investors: 49.40 times subscribed
Non-Institutional Investors (NII): 35.23 times subscribed
Qualified Institutional Buyers (QIB): 9.94 times subscribed

The company aims to raise ₹41.80 crore through this IPO, issuing 52 lakh fresh shares at a price band of ₹76 to ₹80 per share.

Where's the money going? Current Infraprojects plans to invest the net proceeds primarily in its subsidiary, Current Infra Dhanbad Solar Private Limited, for the development of an 1800 KW solar plant at IIT (ISM), Dhanbad, Jharkhand, under the RESCO Model. Remaining funds will be allocated to bolster working capital and general corporate purposes.

Key Dates to Remember:

Allotment: Monday, September 01
Credit to Demat Accounts & Refunds: Tuesday, September 02
Listing on NSE SME: Wednesday, September 03

Market Buzz: Early market indicators paint a rosy picture. The Grey Market Premium (GMP) on Thursday reached ₹43, suggesting a potential listing price of ₹123 per share – a remarkable 53.75% above the upper band issue price!

About Current Infraprojects: Founded in 2013, Current Infraprojects Limited (CIPL) is a prominent player in infrastructure and renewable energy. They specialize in Engineering, Procurement, and Construction (EPC) services, providing comprehensive turnkey solutions across solar, electrical, water, and civil engineering, including interior works and road furniture.