Vinit Mobile IPO opens today; GMP, subscription status, price band, other key details of SME IPO

Vinit Mobile Ltd, a multi-brand mobile retailer operating 35 company-owned stores in Surat, opened its SME IPO on June 30 with a price band of Rs 150 to Rs 158 per share. The company aims to raise Rs 34.13 crore through a fresh issue of 21.60 lakh equity shares, with a minimum retail investment of Rs 2,52,800 for one lot of 800 shares. The issue was subscribed 2 percent on day one, while grey market premium stood at Rs 30, indicating an estimated listing price of Rs 188, about 19 percent above the upper price band.