SME IPO: EverestIMS Tech issue booked 31% on Day 2 so far – Check GMP, other key details

Fresh updates from the financial markets indicate that The initial public offering (IPO) of EverestIMS Tech was subscribed 31 percent on the second day of the share sale on Wednesday.

The Rs 48.46 crore BSE SME offering opened for subscription on September 29 and will close on October 5. The shares are scheduled to be listed on October 8.

According to platforms tracking grey market activities, shares of EverestIMS Tech are commanding a grey market premium (GMP) of 21-24 percent.

Investorgain quoted a GMP of Rs 20 for the shares, indicating a stock-exchange debut gain of 23.53 percent. IPO Watch quoted a GMP of 21.18 percent.

Incorporated in 2017, the firm is a Bangalore-based software firm offering software-as-a-service (SaaS) and on-premises IT Operation and Service Management (ITOSM) solutions under the brand 'Infraon'.

Its flagship platform, 'Infraon Infinity', provides AI-enabled capabilities including AIOps, ITSM, ITIM, NCCM, ITAM and OSS. The firm serves enterprises, telecom operators and small and medium-sized businesses across India, the UAE, Malaysia and other international markets.

In the meantime, the SME segment is witnessing multiple IPOs, with eight issues opening for subscription on Wednesday.

The other issues are Omara Ventures India, Sollfege Smart Electronics, Eventions, Acme India Industries, Paramount Syntex, SJP Ultrasonics and Dove Soft.

Together, the eight issues will raise around Rs 440 crore from the primary market.

The IPOs have different closing dates, with some issues closing on October 5 and others remaining open until October 6.