Kolkata: The bidding process of as many as four mainboard IPOs are drawing to a close today, September 25, 2029. These are Solarworld Energy Solutions IPO, Jaro Institute of Technology IPO, Seshaasai Technologies IPO and Anand Rathi Share & Stock Brokers IPO. All the news issues have been fully subscribed overall as well as the retail segment indicating investor enthusiasm around them. These four companies are raising Rs 2,498.07 crore cumulatively.
All four IPOs are displaying positive GMP on the morning of September 25, according to investorgain data. However, the point to remember is that Grey Market Premium or GMP is an unofficial indicator. It changes with time and cannot guarantee anything — gain or loss on listing.
Significantly, according to indications, the IPO rush is going to increase. A number of big names such as Tata Capital and LG Electronics are going to bring big new issues around Diwali. Investors are already spoilt for choices to invest in IPOs. This trend will continue even as the secondary market witnesses a rather sombre mood with FPIs diluting their stake in Indian equity.
Solarworld Energy Solutions IPO
Size: Rs 490 crore
Overall subscription level: 4.21 times
Subscription in retail segment: 14.37 times
Price band: 333-351
Issue opens: September 23
Issue closes: September 25
GMP (September 25 morning): Rs 56
Indicated listing gain: 15.95%
Minimum lot size (For retail investor): 42
Minimum application money: Rs 14,742
Allotment date: September 26
Listing date: September 30
Lead managers: Nuvama Wealth Management
Registrar: MUFG Intime India
Jaro Institute of Technology IPO
Size: Rs 450 crore
Overall subscription level: 2.05 times
Subscription in retail segment: 2.12 times
Price band: Rs 846-890
Issue opens: September 23
Issue closes: September 25
GMP (September 25 morning): Rs 106
Indicated listing gain: 11.91%
Minimum lot size (For retail investor): 16
Minimum application money: Rs 14,240
Allotment date: September 26
Listing date: September 30
Lead managers: Nuvama Wealth Management
Registrar: Bigshare Services
Seshaasai Technologies IPO
Size: Rs 813.07 crore
Overall subscription level: 3.17 times
Subscription in retail segment: 3.03 times
Price band: Rs 402-423
Issue opens: September 23
Issue closes: September 25
GMP (September 25 morning): Rs 55
Indicated listing gain: 13%
Minimum lot size (For retail investor): 35
Minimum application money: Rs 14,805
Allotment date: September 26
Listing date: September 30
Lead manager: IIFL Capital Services
Registrar: MUFG Intime India
Anand Rathi Share & Stock Brokers IPO
Size: Rs 745 crore
Overall subscription level: 1.20 times
Subscription in retail segment: 1.51 times
Price band: Rs 393-414
Issue opens: September 23
Issue closes: September 25
GMP (September 25 morning): Rs 35
Indicated listing gain: 8.45%
Minimum lot size (For retail investor): 36
Minimum application money: Rs 14,904
Allotment date: September 26
Listing date: September 30
Lead manager: Nuvama Wealth Management
Registrar: MUFG Intime India
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)