IPO Weekly Wrap: DOMS, India Shelter Finance, Inox and 8 SME issues in market spotlight

The Doms Industries IPO received a strong response from participants as the issue was subscribed 93.52 times

IPO Street was abuzz this week as a flurry of companies made their debut in the primary market. In the mainboard segment, DOMS Industries and India Shelter Finance concluded their public issues, while Inox India's offer is set to close on Monday. In the SME space, Presstonic Engineering, S J Logistics, Benchmark Computer Solutions, Siyaram Recycling, Shree OSFM E-Mobility, Sheetal Universal, Accent Microcell, and Graphisads kept the investors busy. Let’s delve into the details of these IPOs.

Mainboard IPOs

DOMS Industries

The Doms Industries IPO received a strong response from participants as the issue was subscribed 93.52 times on the final day of bidding, December 15, with investors buying 82.64 crore shares against an IPO size of 88.37 lakh shares.

Retail investors bought 69.65 times the allotted quota, followed by high net-worth individuals (HNI) who picked up 66.51 times their reserved portion, while the part set aside for qualified institutional buyers (QIB) was booked 115.97 times. The participation by employees, too, was strong, as they bought 29.21 times the reserved quota.

The company raised Rs 1,200 crore from the public issue. The offer comprised a fresh issue of 44.3 lakh shares worth Rs 350 crore and an offer-for-sale (OFS) of 1.07 crore shares. The price band for the issue was fixed at Rs 750-790 per share.

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India Shelter Finance

India Shelter Finance Corporation’s public offer was subscribed 36.71 times on the final day of bidding, December 15, receiving bids for 65.75 crore shares against an issue size of 1.79 crore shares. Retail investors bought 9.95 times, HNIs picked up 28.51 times and QIB bought 89.7 times the allotted quota.

The company raised Rs 1,200 crore from the IPO. The offer consisted of a fresh issue of 1.62 crore shares worth Rs 800 crore and an offer-for-sale of 81.13 lakh shares worth Rs 400 crore. The price band for the issue was fixed at Rs 469-493 per share.

Inox India

Inox India's Rs 1,459.32 crore IPO was subscribed 7.07 times by December 15, the second day of bidding. The offer had received bids for 10.94 crore shares against the issue size of 1.55 crore. HNIs took the lead, picking 13.73 times their allotted quota of shares. The portion set aside for retail investors was bought 8.17 times and that of QIBs was booked 17 percent.

The Vadodara-based cryogenic tanks manufacturing company is looking to raise Rs 1,459.32 crore through the IPO, which is purely an offer for sale. The price band for the offer, which closes December 18, has been fixed at Rs 627-660 a share.

Also Read: Suraj Estate Developers IPO: 10 things to know before subscribing to Rs 400 crore issue

SME IPOs

Presstonic Engineering

Presstonic Engineering’s Rs 23.3-crore IPO was subscribed 168 times on December 13, the final day of bidding. The price for the issue was fixed at Rs 72 per share.

S J Logistics

S J Logistics’ IPO was subscribed 316 times on December 14, the final day of bidding. The company raised Rs 48 crore from the IPO. The price band for the issue was fixed at Rs 121-125 per share.

Benchmark Computer Solutions

Benchmark Computer Solutions IPO was subscribed 30 times on December 15, the second day of bidding. The company plans to Rs 12.24 crore from the IPO. The price for the issue is fixed at Rs 66 per share.

Siyaram Recycling

Siyaram Recycling IPO was subscribed 59.9 times on December 15, the second day of bidding. The company plans to Rs 22.96 crore from the IPO. The price band for the issue is fixed at Rs 43-46 per share.

Also Read: Muthoot Microfin IPO: 10 things to know before you invest in Rs 960-crore issue

Shree OSFM E-Mobility

Shree OSFM E-Mobility IPO was subscribed 3.5 times on December 15, the second day of bidding. The company plans to Rs 24.6 crore from the IPO. The price for the issue is fixed at Rs 65 per share.

SME Listings

Sheetal Universal

Sheetal Universal stock made a decent debut, listing at a 7 percent premium over the IPO price on December 11. The stock opened at Rs 75 against the issue price of Rs 70 on the NSE SME platform.

The issue received a good response from investors as it was subscribed 179 times and the retail portion was booked 129 times the allotted quota.

Accent Microcell

Accent Microcell stock made an impressive market debut, listing at a 114 percent premium to the IPO price on December 15. The stock opened at Rs 300 on the NSE SME platform against the issue price of Rs 140.

The issue attracted huge interest from investors and was subscribed 337.01 times. HNIs bid 577.01 times and retail investors picked 409.71 times the reserved portion.

Also Read: Happy Forgings IPO: 10 things to know before you buy into Rs 1,009-crore issue

Graphisads

Graphisads made a weak market debut on December 13, listing at a 0.45 percent premium to the issue price of Rs 111. Within minutes of the listing, the stock slipped 4.5 percent to Rs 105.95 on the NSE SME platform. Compared to other SME IPOs, the issue received a tepid response. The offer was subscribed 3.86 times and the retail portion booked 5.52 times.