Euro Pratik Sales IPO sees 1.34 times bids at the end of third and final day. Check GMP and other details

Euro Pratik Sales IPO: Euro Pratik Sales' initial public offering (IPO), which slugged off during the three-day bidding process, closed on Thursday, September 18, with tepid demand. The lack of a strong grey market premium (GMP) also contributed to muted investor interest.

All categories barely sailed through, helping to achieve a successful completion of the IPO on the last day. At the end of the second day, Euro Pratik Sales IPO closed with 0.75 times bids.

Euro Pratik Sales IPO settled today with 1.34 bids, garnering bids for 1,79,77,380 shares as against 1,34,64,781 shares on offer.

The retail investor portion of the IPO was subscribed 1.23 times, the non-institutional investor (NII) quota was booked 1.92 times, while the qualified institutional buyer (QIB) part received 1.05 times bids.

Euro Pratik Sales IPO GMP fizzled out over the last couple of days. From ₹8 on Tuesday to nil today, Euro Pratik Sales IPO GMP signals an at par listing to the issue price.

However, investors must know that GMP is subject to swift change. It, meanwhile, reflects investor willingness to pay above the issue price for a company's shares.

The ₹451.31 crore IPO, which opened on Tuesday, was priced in the range of ₹235-247.

Euro Pratik Sales IPO is entirely an offer for sale of 1.83 crore shares, with no fresh issue component. This means all proceeds from the IPO will go to selling shareholders and not the company.

Retail investors could apply for Euro Pratik Sales IPO in lots of 60 shares, requiring an investment of ₹14,820 at the upper end of the price band.

The IPO allotment is likely to be finalised on September 19, while listing is scheduled for September 23 on both NSE and BSE. Axis Capital Ltd is acting as the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar.

Founded in 2010, Euro Pratik Sales Limited operates in the decorative wall panel and laminates space as a seller and marketer of premium products.

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