Monarch Surveyors IPO subscribed 11 times in four hours on Day 1; Retail, NII lead—GMP surges
The IPO of Monarch Surveyors and Engineering Consultants Ltd witnessed a blockbuster opening on Day 1 as it was subscribed 11 times within just four hours of bidding, driven by overwhelming demand from retail individual investors (RIIs) and non-institutional investors (NIIs). This strong response has boosted the grey market premium (GMP), signalling robust listing expectations….