Amid the ongoing flood of IPOs at Dalal Street, primary market investors are spoiled with problem of plenty. Dalal Street has as many as eight maiden offerings for investors, which are cumulatively raising Rs 4,958.47 crore via their issues.
This includes four new issues opening today.
Of the eight ongoing IPOs, two issues will close today, while the other two are having their day two. These four ongoing issues are raising Rs 2,460.4 crore, while issues worth Rs 2,498.07 crore have opened today. The grey market premia (GMPs) for these IPOs gave mixed signals. Here are the bidding and IPO details of ongoing eight issues.
Day 3 (Last day) subscription status
The Rs 464.26 crore IPO of GK Energy shall close for bidding on Tuesday, September 23. The issue opened for bidding on Friday, September 19. The company is selling its shares in the range of Rs 145-153 apiece, with a lot size of 98 equity shares. The company commanded a grey market premium of Rs 20 apiece, suggesting 13 per cent listing gains for investors.
Subscription as on 1.20 pm on day 3
- QIB portion: 11.49 times
- NIIs portion: 57.73 times
- Retail portion: 12.83 times
- Overall: 22.10 times
Similarly, the IPO of Saatvik Green Energy will also close for bidding on Tuesday, September 23 as the issue had opened on Friday, September 19. The company is selling its shares in the range of Rs 442-465 apiece, with a lot size of 32 equity shares to raise a total of Rs 900. It commanded a grey market premium of Rs 8 apiece, suggesting 2 per cent listing gains for investors.
Subscription as on 1.20 pm on day 3
- QIB portion: 5 per cent
- NIIs portion: 2.68 times
- Retail portion: 2.01 times
- Employees portion: 4.43 times
- Overall: 1.60 times
Day 2 subscription status
Atlanta Electricals, which launched its Rs 687.34 crore, IPO on Monday, September 22, is selling its shares for Rs 718-754 per share. Bids can be made in the multiples of 19 equity shares until Wednesday, September 23. Last heard, the company’s GMP jumped to Rs 110 per share, suggesting a 15 per cent listing pop for the investors.
Subscription as on 1.20 pm on day 2
- QIB portion: 1.45 times
- NIIs portion: 2.96 times
- Retail portion: 1.96 times
- Employees portion: 0.96 times
- Overall: 2.02 times
Ganesh Consumer Products is raising Rs 408.80 crore via IPO, which opened for bidding on Monday, September 22 and can be subscribed until Wednesday, September 23. It is selling its shares for Rs 306-322 per share, with a lot size of 46 equity shares. Last heard, the company’s GMP jumped to Rs 10 per share, suggesting a 3 per cent listing gain for the investors.
Subscription as on 1.20 pm on day 2
- QIB portion: 0 per cent
- NIIs portion: 14 per cent
- Retail portion: 34 per cent
- Employees portion: 66 per cent
- Overall: 20 per cent
Day 1 (opening day) subscription status
Anand Rathi Share & Stock Brokers is selling its shares in the range of Rs 393-414 apiece, which can be subscribed with a lot size of 36 equity shares. The company is looking to raise a total of Rs 745 crore via IPO, which opened on Tuesday, September 23 and closes on Thursday, September 25. Its GMP was seen at Rs 32 per share, signaling nearly 8 per cent gains for the investors.
Subscription as on 1.20 pm on day 1
- QIB portion: 0 per cent
- NIIs portion: 24 per cent
- Retail portion: 32 per cent
- Employees portion: 92 per cent
- Overall: 22 per cent
Seshaasai Technologies is eyeing to mop up to Rs 813.07 crore via IPO route, by selling its shares in the range of Rs 403-423 per share between Tuesday, September 23 and Thursday, September 25. Bids can be made in the multiples of 35 shares. Its GMP was seen at Rs 82 apiece, signaling 20 per cent gains for the investors.
Subscription as on 1.20 pm on day 1
- QIB portion: 0 per cent
- NIIs portion: 80 per cent
- Retail portion: 62 per cent
- Employees portion: 1.36 times
- Overall: 49 per cent
Jaro Institute of Technology Management & Research is another IPO which opened on Tuesday, September 23 and set to close on Thursday, September 25. It is selling its shares in the price band of Rs 846-890 per share in multiples of 16 equity shares to raise a total of Rs 450 crore. Last seen, the company’s GMP stood at Rs 130 per share, signaling 15 per cent gains for the investors.
Subscription as on 1.20 pm on day 1
- QIB portion: 1 per cent
- NIIs portion: 1.33 times
- Retail portion: 36 per cent
- Overall: 47 per cent
Solarworld Energy Solutions is the four IPO open today, on Tuesdays, September 23. The Rs 490 crore issue shall close for bidding on Thursday, September 25. The price band for the issue is fixed at Rs 333-351 apiece and can be subscribed between 42 equity shares. Its GMP has seen a sharp rise to Rs 65 per share, indicating gains of nearly 19 per cent for the investors.
Subscription as on 1.20 pm on day 1
- QIB portion: 0 per cent
- NIIs portion: 50 per cent
- Retail portion: 2.42 times
- Overall: 57 per cent