Three public issues in the SME segment closed on May 29 including Blue Water Logistics that received healthy subscription at 8.76 times amongst them. The IPO of Astonea Labs was subscribed 2.44 times, and that of Nikita Papers 1.4 times. All these offers were opened on May 27.
These companies will finalise IPO share allotments by May 30, while investors can start trading in their shares on the bourses effective June 3.
Investors have bought 1.89 crore equity shares of the Hyderabad-based logistics and supply chain solutions company in the last three days, compared to the offer size of 21.65 lakh shares via 7,046 applications.
The company is raising Rs 40.5 crore via initial public offering of 30 lakh shares at a price of Rs 135 per share. These IPO proceeds will be utilised for purchase of vehicles and its body building, working capital requirements, and general corporate purposes.
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Blue Water Logistics that seeks valuation of nearly Rs 150 crore provides freight forwarding, custom clearance and transportation handling services via five branches - Chennai, Delhi, Jaipur, Visakhapatnam, and Thane.
The public issue of the pharmaceutical and cosmetic products maker has received bids for 48.71 lakh shares compared to the offer size of 20 lakh shares via 1,645 applications. Non-institutional investors maintained the lead amongst them, buying 4.38 times their allotted quota, while the reserved portions of qualified institutional buyers and retail investors were subscribed 1.75 times and 1.69 times, respectively.
The company approached capital markets to mobilise Rs 37.67 crore via maiden public issue of 27.9 lakh shares at the upper end of price band of Rs 128-135 per share.
The IPO funds will be used for registration in Bolivia (South America), purchase and installation of plant and machineries for ointment production for the purpose of export, and working capital requirements. Further, the company will also do advertising, marketing and brand building, and procure hardware and software through IPO proceeds.
Incorporated in 2017, Astonea Labs looks for valuation of little more than Rs 140 crore through its offer.
Investors have picked 78.87 lakh shares of the paper and paper products maker during May 27-29, compared to the issue size of 56.25 lakh shares via 3,520 applications.
Incorporated in 1989, New Delhi-based Nikita Papers that is valued at over Rs 250 crore targets to raise Rs 67.54 crore via IPO of 64.94 lakh shares at a price of Rs 104 per share.
It intends to utilise IPO proceeds for setting up of power plant, working capital requirement, and general corporate purposes. The price band for the offer was Rs 95-104 per share.
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