Three mainboard IPOs- Urban Company, Shringar House of Mangalsutra and Dev Accelerator- shall conclude for bidding today, that is on Friday, September 12. The three issues, which kicked-off for bidding on Wednesday, September 10, continued to witness a strong response from the investors during the third and final day of the bidding.
Shringar House of Mangalsutra: Day 3 subscription status and GMP
The IPO of Shringar House of Mangalsutra was overall subscribed 23.20 times as of 13.30 pm on Friday, September 12. The issue attracted bids for 39,48,47,640 equity shares against the net offered issue size of 1,70,16,000 equity shares
The portion for retail bidders was booked 19.61 times, while the allocation for non-institutional bidders was subscribed 53.43 times. Employees quota was subscribed over 47.16 times. However, the portion for qualified institutional bidders was booked 6.73 times as of the given time.
Mumbai-based Shringar House of Mangalsutra, is selling its shares for Rs 155-165 apiece in the multiples of 90 shares to raise a total of Rs 400.95 crore. The issue is a fresh issue of 2.43 crore equity shares. Its GMP has risen from Rs 30 to Rs 34, hinting at 21 per cent gains for the investors.
Urban Company: Day 3 subscription status and GMP
According to data from BSE, the IPO of Urban Company was booked 36.47 times as of 1.35 pm on Friday, September 12. Investors had made bids for 3,89,39,28,310 equity shares against the overall net offering of 10,67,73,244 equity shares for the investors.
On an individual basis, the retail portion was booked 30.57 times, while quota for non-institutional bidders was subscribed 55.51 times. Allocation for qualified institutional bidders was booked 28.97 times and employees’ quota was booked 25.28 times.
Urban Company is selling its shares in the range of Rs 98-103 apiece with a lot size of 145 equity shares. The company is looking to raise a total of Rs 1,900 crore via its IPO. Last heard, the company was commanding a grey market premium of Rs 43-45, suggesting a listing pop of 44 per cent for the investors.
Dev Accelerator : Day 3 subscription status and GMP
Smallest among the three, Dev Accelerator IPO was overall booked more than 38.40 times as of the same time. Investors made bids for 150,48,40,865 equity shares against the offered size of 1,31,47,075 equity shares as of the given time.
Allocation for retail bidders was subscribed a stellar 121.38 times, while non-institutional investors’ quota was booked 56.38 times. The allocation for institutional bidders was booked only 2.61 times. The reserved portions for eligible employees and shareholders were booked 12.38 times and 33.34 times as of the same time.
Coworking solutions company Dev Accelerator is selling its shares in the range of Rs 56-61 apiece in the multiples of 235 equity shares. The issue is entirely a fresh share sale of 2.35 crore equity shares worth Rs 143.35 crore. It has seen a correction in its GMP, which has improved to Rs 10 from Rs 8. The latest GMP suggests a 16 per cent listing pop for the investors.