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The lowest price of the price band is called floor price.
The floor price is the minimum price at which investors can submit bids. It is set by the issuer in consultation with the lead managers of the IPO.
Investors can bid at or above the minimum price, but bids below the minimum price will not be accepted. Setting a minimum price increases transparency and helps price discovery during the IPO.
For example, If the price range of Indegene IPO is Rs 430 to Rs 450 per share, the floor price is Rs 430.
|
IPO Date |
May 6, 2024 to May 8, 2024 |
|
Listing Date |
May 13, 2024 |
|
Face Value |
₹2 per share |
|
Price Band |
₹430 to ₹452 per share |
|
Lot Size |
33 Shares |
|
Total Issue Size |
40,746,891 shares (aggregating up to ₹1,841.76 Cr) |
|
Fresh Issue |
16,814,159 shares (aggregating up to ₹760.00 Cr) |
|
Offer for Sale |
23,932,732 shares of ₹2 (aggregating up to ₹1,081.76 Cr) |
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