IPO Listing: Last week, IPOs of 3 companies came in the market. Bajaj Housing Finance, Cross Limited and Tolins Tyres. All three IPOs got tremendous response from the investors. But after listing, only one IPO has made the investors happy, the rest 2 IPOs have disappointed them. Yes, while the IPO of Bajaj Housing Finance, which entered the market last week, has made investors earn a lot of money, investors have been disappointed with Cross Limited and Tolins Tyres. Bajaj Housing Finance has given double the profit to the investors after listing. Let us know how was the debut of all the three companies in the stock market…
Listing of Cross Limited IPO
Shares of Cross Limited, a company that makes vehicle parts, were listed on the market on Monday after its IPO last week. The company’s shares started flat. That means the IPO investors could not earn anything on the listing of the shares and were disappointed.
Cross Limited’s share was listed on BSE and NSE this morning at a price of Rs 240. In the IPO, the company had fixed a price band of Rs 228 to Rs 240 and one lot of it included 62 shares. Accordingly, one had to spend Rs 14,880 to buy one lot of Cross Limited’s IPO. Since the listing has been done at a price equal to the upper price band, investors have not been able to earn any profit.
Tollins Tires
Shares of Tolins Tyres Limited disappointed investors on its listing on Monday, September 16. The company’s shares were listed on the Bombay Stock Exchange (BSE) at Rs 227, just 0.4 per cent higher than its issue price of Rs 226. The listing was also contrary to grey market estimates, where its shares were trading at a premium of 13 per cent till the last minute.
Tolins Tyres’ IPO was open for bidding from 9 to 11 September last week. The company had fixed a price band of Rs 215-226 per share for its shares. The total size of its IPO was Rs 230 crore. Out of this, Rs 200 crore has been raised through the sale of new shares. At the same time, shares worth Rs 30 crore were put up for sale by the promoters of the company.
Tolins Tyres’ IPO received a great response from investors and closed with a total subscription of 25.03 times on the last day. The company received the highest subscription from the non-institutional investors (NII) category, who subscribed 28.80 times more than the portion of shares reserved for them. At the same time, the company received 26.72 times and 22.45 times more bids in the qualified institutional buyers (QIB) and retail categories respectively.
Bajaj Finance made huge profits
Apart from the day’s trading in the stock market, September 16 is going to be special for a different reason. Today, the IPO of Bajaj Housing Finance, one of the most talked about IPOs of this year, has had a blockbuster listing. Everyone’s eyes were on this IPO and it also received a tremendous response. After making a splash in the gray market, it has also made a tremendous entry in the stock market. It has given tremendous profits to the investors on the day of listing itself. It doubled the investors’ money in a single day.
It was listed at Rs 150 on both BSE and NSE with a premium of 114.29 percent. Even after listing, the stock continued to rise. Within a short time, the stock crossed its day’s high of Rs 161.
