Day 2 of Tata Tech, Flair, Fedbank, Gandhar IPOs; check latest subscription status

Tata Tech IPO was fully subscribed within minutes on day 1

It was another busy day for the primary market, with the bidding for Tata Technologies, Flair Writing Industries, Fedbank Financial Services and Gandhar Oil Refinery's initial public offerings entering Day 2 on November 23.

The Indian Renewable Energy Development Agency's (IREDA) public issue, which opened for subscription on November 21, was in the final day of the bidding.

Most of the IPOs have been oversubscribed, seeing massive investor interest on the back of favourable analyst commentary.

Here is the latest subscription update of the five issues:

Also Read: Tata Technologies IPO subscribed 6.54 times on day 1, HNI portion booked 11.69 times

Tata Technologies

Investors continued to be bullish on the Tata Technologies IPO with 66.87 crore equity shares being bought by the second day of bidding against an offer size of 4.5 crore, leading to a 14.85 times subscription.

The response remained strong from all categories of investors with high net-worth individuals subscribing 31.03 times the allotted quota and retail investors 11.19 times. The reserved portion of qualified institutional buyers was booked 8.55 times.

Employees of Tata Technologies and shareholders of Tata Motors also participated in the offer from day one, buying 2.35 times and 20.02 times the portions set aside for them. Of the total issue, 20.28 lakh shares are reserved for employees and 60.85 lakh shares for shareholders, while excluding both, the offer is the net issue.

Also Read: Fedbank Financial Services IPO Day 1: Issue subscribed 38%, retail portion booked 0.67x

Fedbank Financial Services 

Fedbank Financial Services IPO was subscribed 90 percent on November 23, the second day of bidding, with bids coming in for 5.03 crore shares against the issue size of 5.6 crore shares. Retail investors bought 1.25 times their allotted quota of shares, non-institutional investors (NIIs) picked up 52 percent while qualified institutional buyers (QIBs) have subscribed for 56 percent of shares.

Also Read: Gandhar Oil IPO sails through on Day 1

Gandhar Oil Refinery

Gandhar Oil Refinery IPO was subscribed 15.25 times on the second day of bidding, November 23, with bids coming in for 32.39 crore shares against 2.12 crore offered shares. Non-institutional investors (NIIs) booked 26.23 times and retail investors booked 17.24 times their quota. The portion set aside for qualified institutional buyers (QIBs) was subscribed 3.14 times.

Also Read: Flair Writing IPO Day 1: Issue subscribed 2.17 times, retail portion booked 2.8 times

Flair Writing Industries

Flair Writing Industries IPO was subscribed 6.11 times on November 23, the second day of bidding, receiving bids for 8.8 crore shares against the issue size of 1.44 crore shares. Retail investors bought 7.14 times, non-institutional investors picked 10.04 times and qualified institutional buyers bought 1.36 times the allotted quota.

Also Read: IREDA IPO: Issue sees 4.56 times subscription on Day 2

IREDA

IREDA IPO was subscribed 38.8 times, as investors bid for 1,827 crore shares against an offer size of 47.09 crore on the final day of bidding. NIIs bought 24.16 times their allotted quota and retail investors 7.73 times. The portion set aside for QIBs was subscribed 104.57 times.