Indian Energy Exchange's issue price is fixed at Rs 1,650 per share, the higher end of price band.
The stock had a whopping premium of 44 percent on the National Stock Exchange on Wednesday at Rs 660 against its issue price of Rs 459.
MAS Financial Services has opened at Rs 660 against its issue price of Rs 459.
Analysts expect the stock to list with a premium of Rs 150-200, given the strong subscription to the issue and strong financials of the company.
The company, a joint venture between Reliance ADAG and Nippon Life of Japan, would both issue fresh shares and offer for sale (OFS) of promoters' holdings to raise around Rs 1,500 crore from the market through the IPO.
The stock touched a high of Rs 630 and low of Rs 563.40 during the day’s trade.
Diversified agro-business company Godrej Agrovet started off first trade at Rs 615.60 on the National Stock Exchange, a whopping premium of 33.82 percent over its issue price of Rs 460 per share.
The Rs 1,157 crore IPO was a huge hit and oversubscribed 95.41 times during October 4-6. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 150.96 times, non institutional investors 236.04 times and retail investors 7.67 times, as per NSE data.
Analysts expect the listing price to be in Rs 550-600 per share range, given the overwhelming response to the issue and hefty grew market demand.
The issue IPO received bids for 16,87,32,208 shares against total issue size of 12,47,00,000 shares, data available with the NSE as of 6:00 pm showed.
The issue comprises a fresh issue of 1,72,00,000 shares by the Corporation and an offer for sale of 10,75,00,000 shares by the promoter.
The initial public offering of up to 6.12 crore equity shares comprises a fresh issue of up to 2.448 crore shares by the company and an offer for sale up to 3.672 crore shares by the selling shareholders.
The IPO of the reinsurance company, which is in a price band of Rs 855-912, will close on October 13. The issue comprises fresh issue of 1,72,00,000 shares by the Corporation and an offer for sale of 10,75,00,000 shares by the promoter.
The IPO received bids for 99,13,914 shares against 42,45,508 shares on offer, as per NSE data.
India's biggest reinsurer kicks off its initial public offering (IPO) today. The USD 1.7 billion issue opens with a price band of Rs 855-912 per share. In an interview to CNBC-TV18, Alice G Vaidyan, CMD of General Insurance Corporation of India (GIC) spoke at length about the IPO.
Brokerages largely recommend subscribing to the issue, considering the penetration potential of insurance services in the country.
The company, enjoys a near-monopoly in the Indian market and the valuation of the offer at 3.4X post-issue book (1.5X book with fair value change) is in line with global peers and looks reasonable in the context of a steady track record and macro opportunities.
The IPO, which constitutes 14.22 percent of post-offer paid-up equity share capital, comprises of fresh issue of 1.72 crore equity shares and an offer for sale of 10.75 crore shares by promoter - President of India.
MAS Financial Services' initial share sale offer has received strong response from investors.
The 6,70,79,979 equity shares public issue comprises of a fresh issue of up to 1,67,69,995 shares by Reliance General Insurance Company and an offer for sale of up to 5,03,09,984 shares by Reliance Capital.
Indian Energy Exchange's (IEX) initial public offering (IPO) opens for subscription today. In an interview to CNBC-TV18, SN Goel, MD & CEO of the company spoke about the IPO and his outlook going ahead.
Brokerages largely are upbeat about the issue and recommend subscribing for the same.
It is expected to raise Rs 997.7-1,000.7 crore at a price band of Rs 1,645-1,650 per share.
The category reserved for qualified institutional buyers (QIBs) was oversubscribed 155.17 times, non-institutional investors 238.68 times and retail investors 7.55 times, merchant banking sources said.
The IPO to raise around Rs 1,157 crore received bids for 1,62,56,99,712 shares against the total issue size of 1,80,27,464 shares, data available with NSE till 1545 hours showed.