Esprit Stones, a new entrant in the stock market, is set to make its mark with an Initial Public Offering (IPO) worth ₹50.42 crores. The entire issue comprises a fresh offering of 57.95 lakh shares.
Investors can participate in the Esprit Stones IPO from July 26, 2024, until July 30, 2024. The allotment process is expected to conclude on Wednesday, July 31, 2024. Following the allotment, Esprit Stones’ shares will be listed on the National Stock Exchange (NSE) SME platform, with a tentative listing date set for Friday, August 2, 2024.
Esprit Stones Limited operates in the Diversified Consumer Services sector, specifically within the Furniture-Furnishing-Paints industry.
The price band for the Esprit Stones IPO ranges from ₹82 to ₹87 per share. Retail investors can apply for a minimum lot size of 1600 shares, requiring an investment of ₹139,200. High-net-worth individuals (HNIs) have the option to invest in a minimum of 2 lots (3200 shares), totaling ₹278,400.
Choice Capital Advisors Pvt Ltd and Srujan Alpha Capital Advisors Llp serve as the book running lead managers for the Esprit Stones IPO, while Link Intime India Private Ltd acts as the registrar. Choice Equity Broking is the designated market maker for this promising IPO.
Esprit Stones IPO Details:
| Company Name | Esprit Stones Limited |
| Sector | Consumer Services |
| IPO Type | SME |
| IPO Open date | 26th July 2024 |
| IPO Close date | 30th July 2024 |
| OFS | |
| Listing Exchanges | NSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Esprit Stones IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 1600 | 1,39,200 |
| HNI (Min) | 2 | 3200 | 2,78,400 |
Esprit Stones IPO Timeline:
| IPO Open Date | 26th July 2024 |
| IPO Close Date | 30th July 2024 |
| Basis of Allotment | 31st July 2024 |
| Refund Initiation Date | 01st Aug 2024 |
| Shares Credit to Demat | 01st Aug 2024 |
| Listing Date | 02nd Aug 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Esprit Stones’ financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Consumer Services industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Esprit Stones and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
