Ameenji Rubber IPO Subscribed 0.72 Times on Day 2 as QIBs Lead Momentum

Mumbai, 29 September 2025: Ameenji Rubber Limited’s ₹30 crore SME initial public offering (IPO) continued its bidding on Monday, with Qualified Institutional Buyers (QIBs) driving most of the early subscription while retail and non-institutional investors slowly built momentum. The public issue has garnered 0.72 times overall subscription as of 12:24 PM on Day 2.

Incorporated in 2006 and headquartered in India, Ameenji Rubber Limited manufactures elastomeric bridge bearings, POT-PTFE bearings, expansion joints, railway vestibules, and moulded rubber sheets. The company primarily caters to the railway and infrastructure sectors. Promoters Mufaddal Najmuddin Deesawala, Sakina Mufaddal Deesawala, Fatema Mufaddal Deesawala, and Zahra Mufaddal Deesawala hold 92.24% stake pre-IPO, which is expected to reduce to 67.72% post-issue.

Ameenji Rubber IPO Retail Investors Lag with 0.12 Times Subscription as QIBs Dominate with 1.84 Times

Ameenji Rubber IPO has seen individual investors subscribe 0.12 times for the 9,98,400 shares offered under the retail category, amounting to ₹1.152 crore in bids. In contrast, QIBs excluding anchor investors have bid for 10,44,000 shares, translating into a 1.84 times subscription for their 5,68,800 shares allocation, reflecting stronger institutional interest. Non-institutional investors (NIIs) have subscribed 0.67 times overall, with bids above ₹10 lakh at 0.89 times and bids below ₹10 lakh at 0.21 times.

The subscription pattern indicates a concentration of demand in the QIB segment, suggesting institutional confidence in the issue’s pricing and business model. Retail investors remain cautious, contributing to slower uptake in the individual category.

Ameenji Rubber IPO Ameenji Rubber IPO Size ₹30 Crore with ₹100 Cut-Off Price, Listing on BSE SME Platform

The ₹30 crore IPO comprises 30,00,000 equity shares at a price band of ₹95–₹100 per share with a lot size of 1,200 shares (minimum investment of ₹1.20 lakh). The issue closes on 30 September 2025, and the company is scheduled to list on the BSE SME platform on 6 October 2025. Proceeds are earmarked for modernising existing machinery, establishing a conveyor belting unit, partial repayment of borrowings, and general corporate purposes.

Ameenji Rubber IPO QIBs Lead Momentum Amid Steady Institutional and Retail Participation

The momentum on Day 2 highlights a clear skew towards institutional participation, with QIB bids exceeding allocations by 84%, while retail subscription remains modest at 0.12 times, indicating selective retail interest. Non-institutional investors have contributed to 0.67 times subscription, suggesting moderate uptake among high-value buyers.

The Ameenji Rubber IPO reflects a concentrated demand pattern, with QIBs leading subscription and retail participation gradually building. The allocation strategy and pricing band are designed to support institutional uptake while providing retail investors access with manageable lot sizes and clear utilisation of proceeds for operational expansion.

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