Slone Infosystems IPO: 73.61 Times Oversubscribed on Day 2

About Slone Infosystems Ltd

Slone Infosystems IPO opened for subscription on 03rd May 2024 and will close for subscription on 07th May 2024. Last on Monday 06th May 2024, Slone Infosystems IPO was already subscribed by 73.61 times. Of course, there is still one more day to go, so one can expect a much bigger subscription in this case. It is a fixed price IPO will a price of ₹79 per share. The entire IPO is a fresh issue portion only. The fresh issue portion comprises the issue of 14,00,000 shares (14.00 lakh shares), which at the fixed IPO price of ₹79 per share aggregates to fresh fund raising of ₹11.06 crore. That is also the total size of the IPO. The market maker, Aftertrade Share Broking Private Ltd, has been allocated a market maker inventory of 70,400 shares. Slone Infosystems IPO is being lead managed by Jawa Capital Services Private Ltd while KFIN Technologies Ltd will be the registrar to the issue.

Read more about Slone Infosystems IPO

Shares Allocated across Categories

While the IPO of Slone Infosystems IPO does not have a dedicated QIB quota, the net issue size (net of market maker allocation) is divided among retail and HNI / NII investors. The breakdown of the overall IPO of Slone Infosystems Ltd is captured in the table below.

The minimum lot size for the IPO investment will be 1,600 shares. Thus, retail investors can invest a minimum of ₹126,400 (1,600 x ₹79 per share) in the IPO. That is also the maximum that the retail investors can invest in the IPO. HNI / NII investors can invest a minimum of 2 lots comprising of 3,200 shares and having a minimum lot value of ₹252,800.

Slone Infosystems IPO Subscription update as of March 06, 2024

Here is an update on subscriptions for the Slone Infosystems IPO as of March 06, 2024 at 16.40 hours.

The book has been subscribed 73.61 times as of 16.33 hours on May 06, 2024. The subscriptions for the day are not yet completed and there is one more day after this. While the market maker quota is mentioned in the table above, the subscription ratios are calculated on the net IPO size of 13.296 lakh shares (net of market making shares only). For now, the retail investors are leading with 121.09X times subscription while the HNI / NII investors are trailing at 25.89X subscription. However, most of the HNI / NII applications do come in on the last day. We will get a clear picture only by end of May 07, 2024, when the issue closes.