Meta Infotech IPO Sees 91% Day 1 Subscription—Cybersecurity Play Sparks QIB Buzz, GMP at ₹40

Meta Infotech Ltd, a cybersecurity solutions provider, kicked off its ₹80.18 crore IPO on July 4, and by mid-day, the issue was 91% subscribed, signaling strong investor interest. The Qualified Institutional Buyers (QIB) portion was already oversubscribed at 1.26x, while retail and NII segments saw 85% and 65% subscription, respectively.

 

The IPO comprises a fresh issue of ₹15.99 crore and an offer-for-sale of 37.35 lakh shares, with a price band of ₹153–₹161. The company plans to use proceeds for loan repayment, new office setup, and an interactive experience center. Meta Infotech serves sectors like banking, IT, insurance, and manufacturing, and is an authorized reseller of global cybersecurity OEMs.

 

The grey market premium (GMP) stood at ₹40, implying a potential listing price of ₹201, nearly 25% above the upper band. The IPO closes on July 8, with listing expected on July 11.

 

Key Highlights:

Source: LiveMint – Meta Infotech IPO Day 1 Subscription & GMP