Automated test and measurement solutions Digilogic Systems' initial public offering has managed to sail through on the final day of bidding, while the public issue of Shayona Engineering and Hannah Joseph Hospital were undersubscribed on the first day, i.e. January 22.
Digilogic Systems will finalise IPO share allotment by January 23, while its equity shares will be available for trading on the BSE SME effective January 28.
Investors have applied for 65.23 lakh shares against the offer size of 59.79 lakh shares via 1,330 applications, resulting into a 1.09 times subscription.
Qualified institutional investors provided decent support to the offer, bidding 1.6 times their allotted quota, while the parts set aside for retail and non-institutional investors were subscribed 1.08 times, and 56 percent, respectively.
Digilogic Systems that develops automated test equipment (ATE) systems, radar and electronic warfare environmental simulators, application software, and embedded signal processing solutions for the defence and aerospace engineering sector is raising Rs 81.01 crore via public issue.
Click Here To Read All IPO News
The IPO is a combination of fresh issuance of shares worth Rs 69.67 crore, and an offer-for-sale of 10.89 lakh shares by promoter. The price band for the offer is Rs 98-104 per share.
The Telangana-based company will spend Rs 51.7 crore of fresh issue proceeds for setting up of new facility, Rs 8 crore for repayment of certain borrowings, and the remainder funds for general corporate purpose, while nearly Rs 11 crore will be received by promoter Madhusudhan Varma Jetty.
Meanwhile, the initial public offering (IPO) of Shayona Engineering, the precision engineering services and manufacturing solutions provider, saw 98 percent subscription on its first day of bidding, with investors bidding 10.08 lakh shares against offer size of 10.32 lakh shares via 287 applications.
The public issue has received strong support from qualified institutional buyers on Thursday, who bid 3.33 times their allotted quota. The reserved portions of non-institutional and retail investors were subscribed 1.22 times, and 81 percent, respectively.
The Gujarat-based company is raising Rs 14.86 crore via IPO at the upper end of price band of Rs 140-144 per share, which will be utilised for purchase of plant and machinery for the existing line of business, repayment of debt, working capital requirements, and general corporate purposes.
Tamil Nadu-based Hannah Joseph Hospital's IPO was subscribed 16 percent as investors applied for 7.04 lakh shares against issue size of 42.94 lakh shares via 42 applications. The parts reserved for non-institutional and retail investors were booked 50 percent and 6 percent, however, qualified institutional buyers have not put in bids yet.
The healthcare services provider aims to mop up Rs 42 crore via initial share sale at the upper end of price band of Rs 67-70 per share. The IPO consists of entirely fresh issue with no offer-for-sale component.
The company will spend Rs 34.98 crore of IPO proceeds for establishing radiation oncology centre, and the remaining amount for general corporate purposes.
Hannah Jospeh Hospital, a multi-speciality healthcare provider, operates hospital with a combined bed capacity of 150 beds in Madurai.
The public issues of Shayona Engineering, and Hannah Jospeh Hospital will remain open for subscription till January 27.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
