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Adcounty Media IPO Day 2: Check Subscription Status, GMP And Other Key Details

The price band for the IPO has been set between Rs 80 and Rs 85 apiece. The BSE SME issue is open for bidding till July 1.

Adcounty Media IPO
The BSE SME issue was overall booked 6.39 times till 12:15 p.m., as per the stock exchange data. (Image source: Pexels)

The initial public offering of Adcounty Media India Ltd. continued to see strong demand across categories on the second day of bidding on Monday, June 30.

The BSE SME issue was overall booked 11.54 times till 4:23 p.m., as per the stock exchange data.

The Qualified Institutional Buyers subscribed their quota 2.65 times and the Non-Institutional Investors booked their segment 7.65 times. The retail portion of the IPO was booked 18.29 times.

Investors who want to bid for shares in the Adcounty Media India IPO must check the following details before making an investment call.

ALSO READ: Check the latest subscription details of Adcounty Media India IPO here.

Adcounty Media India IPO GMP Today

The grey market premium for the Adcounty Media India IPO stood at Rs 44 apiece as of 2:55 p.m. on June 30, as per InvestorGain. The latest GMP indicates a listing price of Rs 129 per share at a premium of 51.76% over the upper limit of the issue price.  

Note: GMP does not represent official data and is based on speculation.

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Adcounty Media India IPO: Key Details

The price band for the IPO is fixed in the range of Rs 80 and Rs 85 per share. 

The Adcounty Media India IPO is a book-building issue of Rs 50.69 crore. The IPO comprises entirely a fresh issuance of 59.63 lakh shares.

Retail investors need to bid for a single lot size of 1,600 shares, requiring an investment of Rs 1,28,000. High-Net-Worth Individuals can invest by bidding for two lots, amounting to an investment of Rs 2,72,000.

The subscription window is open from June 27 to July 1. The tentative date for IPO share allotment is July 2. Successful bidders will receive the shares in their Demat accounts on July 4. Refunds for non-allottees will be processed on July 3. 

The IPO listing has been proposed for July 4. Shares of the company will be listed on the BSE SME platform.

Narnolia Financial Services Ltd. is the book-running lead manager of the Adcounty Media India IPO. Skyline Financial Services Pvt. is the registrar and Prabhat Financial Services Ltd. is the market maker for the issue. 

About Adcounty Media India

Adcounty Media India is in the business of providing digital marketing solutions. Its services include search engine optimisation, social media marketing and pay-per-click campaigns. 

Use Of Proceeds

The company will use proceeds from the IPO to fund capital expenditure, meet working capital requirements and for general corporate purposes. 

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