Invicta Diagnostic IPO opens: Issue booked 9% so far on Day 1 - Check GMP, price band and other details

Invicta Diagnostic IPO: The ₹28 crore initial public offering (IPO) of Invicta Diagnostics opened for bidding on Monday, December 1. The issue will be available for subscription till Wednesday, December 3. The issue was off to a slow start on the first day, garnering soft bids from retail investors and non-institutional buyers (NIIs). Invicta Diagnostic IPO Subscription Status Invicta Diagnostic IPO was booked 9% so far on the first day of the bidding process as of 2 pm. The offer received bids for 2,19,200 shares as against 23,44,000 shares on offer. The retail investor quota was booked 13%, while the NII portion received bids for 11%. Lastly, the QIB segment did not see any bids yet. Invicta Diagnostic IPO GMP Invicta Diagnostic IPO grey market premium (GMP) today was nil. This means that shares of Invicta Diagnostic were trading at par with the upper end of the price band today. At the prevailing price band, Invicta Diagnostic IPO listing price could be ₹85. Invicta Diagnostic IPO Details The IPO by the diagnostic services provider is a mix of fresh share sale of 0.33 crore shares worth ₹28.12 at the upper end of the price band of ₹80-85 apiece. Ahead of the SME IPO's launch, the company raised ₹6.79 crore from anchor investors on November 28. The allotment for the IPO is slated to be finalised on Thursday, December 4, and the listing will take place on the NSE SME segment on December 8. The company plans to use the funds from the IPO worth ₹21.11 crore for funding capital expenditure for the purchase of medical equipment towards the establishment of five new diagnostic centres in Maharashtra, and the remaining for general corporate purposes. Investors can apply for Invicta Diagnostic IPO in lots of 1600 shares, with the retail investors required to apply for a minimum of two lots, requiring an investment of ₹2,72,000 at the upper end of the issue. Invicta Diagnostic undertakes radiology and pathology testing, including imaging, radiology, and teleradiology, under the brand 'PC Diagnostics' through seven diagnostic centres and a central laboratory across Mumbai, Maharashtra. Socradamus Capital is the book-running lead manager, and Bigshare Services is the registrar of the issue. Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.