Page 16 - Cell Point News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Nifty Realty index closed 0.53 per cent up at 520.0.

Investors are showing strong interest in the Cell Point (India) IPO, with the initial share sale having been subscribed 2.3 times so far. The IPO is a fresh equity issue of up to 50.34 lakh equity shares at Rs 100 per share, with no offer for sale in the public offering. The net proceeds will go towards repayment of some debt, store repairs and setting up new retail stores. Meanwhile, the Aatmaj IPO had a slow start, with just 16% of shares subscribed so far, and the Vilin Bio IPO has been subscribed 50% so far, while the Cosmic CRF IPO is subscribed 75%.

Cell Point's IPO was subscribed 1.06 times on the first day, primarily driven by non-institutional investors who bid for 33.31 lakh shares. The IPO will be used to repay borrowings, renovate existing stores and establish new ones. Meanwhile, Cosmic CRF's IPO, which opened on 14th June, was only subscribed 22% by the end of day two, as NIIs and retail investors were not as enthused. The company is a supplier of cold-rolled stainless steel sections to renowned wagon makers and the railway.

Cosmic CRF, the cold-rolled stainless section supplier, will be the first SME IPO to open for subscription on June 14, with a price band at Rs 314-330 per share.

The IPO of Cell Point (India) will kick off for subscription on Thursday, June 16 as the company looks to Rs 50.34 crore via its primary stake sale.