Subscription Status on Day 1
The initial public offering of Narmadesh Brass Industries witnessed steady participation on the first day of bidding, with investor interest largely driven by the non institutional and retail segments.As per the latest available data, bids were received for a total of 8,82,720 equity shares against the issue price of ₹515 per share by the close of Day 1.
Category-wise Subscription Snapshot
The non institutional investors category emerged as the most active segment on the opening day. This category accounted for bids of 7,95,360 shares across 245 applications. Within this segment, individual investors bidding for more than two lots contributed the bulk of the demand, placing bids for 7,34,160 shares through 236 applications. Corporate bidders submitted bids for 61,200 shares across nine applications.Retail individual investors also showed participation, with bids received for 29,280 shares from 61 applications in the category reserved for investors bidding for up to two lots.
The qualified institutional buyers segment recorded limited activity, with bids for 58,080 shares coming from a single application. Other sub categories within the institutional segment did not record bids on the first day.
Price-wise Demand
At the fixed issue price of ₹515 per share, total demand stood at 8,83,200 shares, indicating that bidding was concentrated at the cut off price.Overall Investor Participation
In aggregate, the IPO attracted 307 applications on Day 1 across all investor categories. Employee, shareholder, and policyholder categories did not report any bids during the session.IPO Timeline
The public issue opened for subscription on January 12 and will remain open until January 15. The company’s shares are proposed to be listed on the BSE SME platform, with the tentative listing scheduled for January 20.The Day 1 subscription trend highlights growing interest from high net worth individuals and retail investors, setting the tone for the remaining days of the offering.
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