In the motherboard segment, DOMS Industries and India Shelter Finance have completed their IPOs, while Inox India's offering is scheduled to close on Monday
IPO Street was abuzz this week as numerous companies made their primary market debuts. In the motherboard segment, DOMS Industries and India Shelter Finance have completed their public issues while Inox India's offering is scheduled to close on Monday. In the SME space, Presstonic Engineering, SJ Logistics, Benchmark Computer Solutions, Siyaram Recycling, Shree OSFM E-Mobility, Sheetal Universal, Accent Microcell and Graphisads kept investors on their toes. Let's take a closer look at the details of these IPOs.
Motherboard IPOs
DOMS Industries
Doms Industries' IPO received wide response from participants as the issue was subscribed 93.52 times on the last day of offering, December 15, and investors received 82.64 crore shares out of an IPO size of 88, Bought 37 lakh shares.
Retail investors bought 69.65 times the allotted quota, followed by High Net Worth Individuals (HNI) who received 66.51 times their reserved share, while the portion reserved for qualified institutional buyers (QIB) was 115, Booked 97 times. Employee participation was also strong as they purchased 29.21 times the reserved quota.
The company raised Rs 1,200 crore through the public issue. The offer comprised a fresh issue of 44.3 lakh shares worth Rs 350 crore and an offer for sale (OFS) of 1.07 crore shares. The price band for the issue has been set at Rs 750-790 per share.
Also Read: Mufti Menswear IPO: 10 things you should know before subscribing to an issue worth Rs 549 Crore
India Shelter Finance
India Shelter Finance Corporation's public offer was subscribed 36.71 times on the last day of offering, December 15, and received bids for 65.75 crore shares out of an issue size of 1.79 crore shares. Retail investors bought 9.95 times, HNIs rose 28.51 times and QIB bought 89.7 times the allocated quota.
The company raised Rs 1,200 crore through the IPO. The offer consisted of a fresh issue of 1.62 crore shares worth Rs 800 crore and an offer for sale of 81.13 lakh shares worth Rs 400 crore. The price band for the issue has been set at Rs 469-493 per share.
Inox India
Inox India's IPO worth Rs 1,459.32 crore was subscribed 7.07 times till December 15, the second day of offering. As part of the offer, offers were received for 10.94 crore shares against the issue size of 1.55 crore. HNIs took the lead and chose 13.73 times their allotted share quota. The share intended for small investors was purchased 8.17 times and that of the QIBs was recorded at 17 percent.
The Vadodara-based cryogenic tank manufacturing company aims to raise Rs 1,459.32 crore through the IPO, which is an offer for sale only. The price band for the offer, which ends on December 18, has been set at Rs 627-660 per share.
Also Read: Suraj Estate Developers IPO: 10 things to know before subscribing to Rs 400 crore issue
SME IPOs
Presstonic Engineering
Presstonic Engineering's Rs 23.3-crore IPO was subscribed 168 times on December 13, the last day of the offer. The issue price has been fixed at Rs 72 per share.
SJ Logistics
SJ Logistics' IPO was subscribed 316 times on December 14, the last day of the offering. The company has raised Rs 48 crore through the IPO. The price band for the issue has been fixed at Rs 121-125 per share.
Benchmark computing solutions
Benchmark Computer Solutions' IPO was subscribed 30 times on December 15, the second day of the offering. The company plans to raise Rs 12.24 crore through the IPO. The issue price is set at Rs 66 per share.
Siyaram Recycling
Siyaram Recycling's IPO was subscribed 59.9 times on December 15, the second day of the bidding. The company plans to raise Rs 22.96 crore through the IPO. The price band for the issue is set at Rs 43-46 per share.
Also Read: Muthoot Microfin IPO: 10 things you should know before investing in Rs 960 crore issue
Shree OSFM E-Mobility
Shree OSFM E-Mobility's IPO was subscribed 3.5 times on December 15, the second day of the bidding. The company plans to raise Rs 24.6 crore through the IPO. The issue price is set at Rs 65 per share.
SME entries
Sheetal Universal
Sheetal Universal's stock made a decent debut, trading at a premium of 7 percent over the IPO price on December 11. The stock opened at Rs 75 against the issue price of Rs 70 on the NSE SME platform.
The issue received good response from investors as it was subscribed 179 times and the retail portion was booked 129 times over the allotted quota.
Accent microcell
Accent Microcell stock made an impressive market debut, trading at a 114 percent premium to its IPO price on December 15. The stock opened at Rs 300 on the NSE SME platform against the issue price of Rs 140.
The issue attracted great interest from investors and was subscribed 337.01 times. HNIs offered 577.01 times and retail investors chose 409.71 times the reserved portion.
Also Read: Happy Forgings IPO: 10 things to know before buying into the Rs 1,009-crore issue
Graphisades
Graphisads had a weak market debut on December 13 and was listed at a premium of 0.45 percent to the issue price of Rs 111. Within minutes of listing, the stock fell 4.5 percent to Rs 105.95 on the NSE SME platform. Compared to other SME IPOs, the topic received a muted response. The offer was subscribed to 3.86 times and the retail portion was booked 5.52 times.
Yash Sadhak Shrivastava is an emerging voice at the forefront of journalism with experience covering financial markets and geopolitics.
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