Astron Paper & Board Mill Ltd IPO is coming in December, please give me details about the IPO size, price band and other relevant information.
The size of Astron Paper IPO is 14,000,000 shares (Rs. 63 – Rs. 70 crore), The IPO size at the upper band is Rs. 70 crores.
The IPO is price band is Rs. 45 – Rs. 50 per share.
The size of the IPO is kept small for one reason. They want to create the demand and shortage of the shares. So, they can raise the price to the highest levels. After taking the shares to the sky high, the promoters will offload their shares at the highest level. Retail investors should sell the shares at reasonable levels to avoid loss. Do not lose money in Greed and do not buy the shares at higher levels.
The issue of Astron Paper also comprises of reservation of up to 7,00,000 equity shares for subscription by eligible employees (the “employee reservation portion”).
Company has reserved 7 lakh equity shares for the employees, 46 lakh 55 thousand equity shares for retail investors while the total issue size is 1 crore 40 lakh equity shares.