New Delhi, Sept. 9 -- The initial public offering (IPO) of structural engineering and fabrication company Karbonsteel Engineering opened for public subscription on Tuesday, September 9. The SME IPO is a combination of fresh issue of 30,39,600 shares and offer for sale of 6,90,000 shares. Promoters Shrenik Kirit Shah and Mittal Shrenik Shah are the selling shareholders, offloading 4,14,000 and 2,76,000 shares, respectively, in the issue. The grey market appears to be positive about the issue, as the latest grey market premium (GMP) indicates the stock could be listed at a decent premium of 12 per cent.

By 10:30 am on Tuesday, the issue had seen an overall subscription of 0.30 times, with the retail portion booked 0.06 times, and the segme...