New Delhi, Aug. 25 -- The initial public offering of Sumax Engineering, a company that caters to the automotive OEMs (original equipment manufacturers) and auto refinishers, opened for public subscription on Tuesday, 25 August.

The IPO is witnessing healthy buying interest as it is already fully subscribed. Grey market trends also indicate the stock could list at a healthy premium on the NSE SME.

Meanwhile, ahead of the IPO, the company has raised Rs.14.50 crore from anchor investors by allocating 14,35,200 shares at an offer price of Rs.101 per share.

According to grey market sources, the grey market premium (GMP) of Sumax Engineering shares was Rs.35 on Tuesday morning. This indicates the stock could list at a premium of about 35% ov...