Sumax Engineering’s SME IPO entered its second day of bidding after opening on August 25. The Rs. 53.4-cr. issue has a price band of Rs. 95–101 per share and will remain open until August 28.
On Day 1, the issue was subscribed around 0.79 times, with retail investors leading the demand at approximately 1.50 times their reserved portion.
Investors will be watching whether institutional and non-institutional participation improves on Day 2 and Day 3. The company’s financial performance and valuation will remain more important for long-term investors than short-term grey-market expectations.
