KRM Ayurveda IPO Opens Today: Check GMP, Subscription & Price Band

KRM Ayurveda’s IPO opened for subscription on Wednesday with the Rs 77.49 crore issue drawing attention in the SME segment amid a grey market premium (GMP) of about 16% ahead of listing. The IPO is a book-built issue and is entirely a fresh issue of 0.57 crore equity shares.

The price band has been fixed at Rs 128 to Rs 135 per share. At the upper end of the band, the company is valued at a pre-IPO market cap of about Rs 287 crore. The issue will close on Friday and the shares are scheduled to list on the NSE SME platform on January 29.

Retail investors can apply for a minimum of 2,000 shares, translating into an application size of Rs 2,70,000 at the upper price band. For high net-worth individuals, the minimum application is 3,000 shares, amounting to Rs 4,05,000. The lot size is fixed at 1,000 shares.

Ahead of the issue opening, KRM Ayurveda raised Rs 20.82 crore from anchor investors on January 20, with 15.42 lakh shares allotted. Half of the anchor shares will be locked in for 30 days, while the remaining portion will be subject to a 90-day lock-in.

The public issue comprises 57.40 lakh shares, of which 44.84% has been allocated to qualified institutional buyers, 31.57% to retail investors and 13.59% to non-institutional investors. Around 10% of the issue has been reserved for the market maker.

KRM Ayurveda operates a network of six hospitals and five clinics across India and also offers telemedicine consultations, including for overseas patients. The company is engaged in Ayurvedic healthcare services and the manufacture of Ayurvedic medicines, herbal remedies and wellness products. Its facilities include inpatient and outpatient care, Panchakarma therapy units, specialised clinics, wellness programmes and in-house pharmacies.