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Virtual Galaxy Infotech Finalizes IPO Allotment Amid Strong Investor Demand

The Nagpur-based IT firm saw its IPO oversubscribed by 231.45 times, with allotment status set to be finalized on May 15 and listing planned for May 19 on NSE Emerge.

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Overview

  • Virtual Galaxy Infotech's IPO, priced at Rs 142 per share, raised Rs 93.29 crore through the sale of 65.7 lakh fresh equity shares.
  • The IPO received overwhelming interest, being oversubscribed 231.45 times, with NIIs leading at 590.27 times and retail investors at 134.03 times.
  • The grey market premium currently stands at Rs 87 per share, suggesting potential listing gains of Rs 87,000 per 1,000-share lot for successful allottees.
  • The basis of allotment will be finalized on May 15, with allotment messages and fund debits expected by May 16.
  • The company's shares are scheduled to debut on the NSE Emerge platform on May 19, marking a significant milestone for the SME-focused exchange.