Cochin Shipyard did not break its issue price due to weak market sentiment but that capped its upside. The day's low was Rs 435 on the National Stock Exchange.
Cochin Shipyard immediately gained momentum further and hit a high of Rs 528.15 in early trade, up more than 22 percent over IPO price.
Aside has a sizeable presence in the middle east with 7 hospitals, 89 clinics and 202 retail pharmacies in the Gulf Cooperation Council (GCC) states . It also has 11 multi-speciality hospitals and 6 clinics in India, and one clinic in the Philippines as of 31 March.
“We expect Cochin Shipyard to be on premium with a listing gains of over 20 percent," Mustafa Nadeem, CEO, Epic Research said.
The stock closed at Rs 757.05 on the National Stock Exchange, down 7.1 percent from its issue price of Rs 815.
The premium of at least Rs 100 could be possible because of overwhelming response received by the issue, analysts feel.
In the pre-opening, the stock settled at Rs 879.80, higher by 8 percent from its issue price.
The price quoted in the grey market is the ‘premium’ over the likely issue price. So when brokers say the IPO is quoting at Rs 85-90 in the grey market, it means that the appetite for the issue is Rs85-90 above the issue price.
The Rs 780-crore public issue, which was opened for subscription between July 31 and August 2, was oversubscribed 7 times.
Mahindra Group's logistics arm has filed draft papers with markets regulator Sebi to raise an estimated Rs 700 crore through an initial public offering.
State-run Cochin Shipyard targets to raise up to Rs 1,468 crore through its share sale offer. The price band for public issue of 3.3984 crore equity shares is fixed at Rs 424-432 per share.
The initial share sale offer of Cochin Shipyard was oversubscribed 3.16 times on the second day of the three-day bidding today.
Public sector unit Cochin Shipyard aims to raise up to Rs 1,468 crore through its share sale offer.
The initial share sale offer of Security and Intelligence Services (India) Limited (SIS) was oversubscribed 1.93 times on the second day of bidding.
We applied Buffett’s investing framework to see if the Cochin Shipyard’s IPO is worth applying for.
Most domestic brokerage firms have recommended investors to subscribe to the issue on account of attractive valuations, healthy order book, and low debt on books as well as quality management.
Dixon's public issue comprises of a fresh issue of shares worth Rs 60 crore and an offer for sale of up to 3,753,739 equity scrips by the existing shareholders.
The IPO received bids for 19,96,380 shares against the total issue size of 53,16,187 shares, data available with the NSE showed.
In an interview to CNBC-TV18, Rituraj Sinha, Group MD at Security & Intelligence Services India spoke about the issue and the latest happenings in the company.
The state-owned shipyard company will enter the primary market with a public issue of 3.3984 crore equity shares on August 1. The price band for the issue is fixed at Rs 424-432 per share.
Debt repayment, employee cost changes, and operating margins in the cash & facility management service segments will be the decisive factors worth tracking in this fiscal.
Bids can be made for minimum 18 equity shares and in multiples of 18 shares thereafter. Equity shares are proposed to be listed on BSE and National Stock Exchange.
Security and Intelligence Services (India) Ltd (SIS) on Friday said it will launch an IPO on Monday and expects to raise up to Rs 780 crore, a part of which will go towards debt repayment.
Brokerages have largely highlighted the strong business model of the company along with presence in the organised sector in this space. Further, they said that the company will be able to leverage their leadership positions across several segments of security solutions.
The issue and the net issue will constitute 26.48 percent and 25.14 percent, respectively of the post issue paid-up equity share capital of the company.