Poojaa Precision Engineering's initial public offering (IPO) received strong interest on its opening day, July 28, with the issue subscribed 3.34 times by midday, according to Moneycontrol. The IPO, which will close on July 30, is priced between ₹285 and ₹301 per equity share.
Key Details
The company, established in 1992, specializes in manufacturing precision-engineered components for various sectors, including automotive and electric mobility. Its product range includes critical components for both internal combustion engine (ICE) vehicles and electric vehicles (EVs), such as cylinder heads and intake manifolds. For the fiscal year 2025-26, Poojaa Precision reported revenues of ₹293.86 crore and a profit after tax of ₹30.90 crore, indicating a profit margin of 10.52%, as noted by Livemint.
Background
The grey market premium (GMP) for the IPO is currently at ₹260, suggesting a potential listing price of approximately ₹561 per share, which would represent an 86.38% gain over the upper end of the IPO price band. This increase in GMP signals strong expectations for the stock's performance upon listing.
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The strong subscription and positive grey market signals could lead to increased interest in Poojaa Precision shares, particularly among retail investors looking for high-growth opportunities in the precision engineering sector. Investors will watch for the final subscription numbers and overall market sentiment as the IPO period concludes on July 30.