IPO Weekly Wrap: IRM Energy takes centre stage; SME IPOs gain momentum

Committed Cargo Care took the spotlight with its listing this week.

The past week witnessed a flurry of activity in the mainboard and Small and Medium Enterprises (SME) segments. Several companies sought to tap into the equity market. IRM Energy, WomanCart, Rajgor Castor Derivatives, and Arvind and Company Shipping Agencies IPOs closed this week. Meanwhile, Committed Cargo Care took the spotlight with its listing. Let's delve into the details of these IPOs and their subscription status:

Mainboard IPO

IRM Energy 

In the mainboard segment, IRM Energy raised Rs 545.4 crore through its initial public offering. The subscription window for this IPO was open from October 18 to October 20, with the price band fixed at Rs 480-505 per share. The investor response to this offering was remarkable, as the issue was subscribed 27.05 times. Investors bid for 20.62 crore shares against an offer size of 76.24 lakh shares. Retail investors subscribed 9.29 times, while high net-worth individuals exhibited considerable demand, subscribing 48.34 times. Qualified institutional buyers also showed significant interest, subscribing 44.73 times the allotted quota.

Also Read: Paragon Fine and Speciality Chemicals IPO to open on October 26, price band set at Rs 95-100 apiece

SME IPOs

WomanCart 

WomanCart raised Rs 9.56 crore via public offer. The subscription window was open from October 16 to October 18, with shares priced at Rs 86 each. The response from investors was notably robust, with the issue being subscribed 60.94 times. Investors picked up 6.77 crore equity shares against an offer size of 11.12 lakh. Retail investors displayed significant enthusiasm, subscribing 71.94 times the portion set aside for them, while high net-worth individuals (HNIs) also showed keen interest by bidding 56.4 times their allotted quota.

Rajgor Castor Derivatives

Rajgor Castor Derivatives raised Rs 47.81 crore. The IPO opened on October 17 and closed on October 20, with the price band fixed at Rs 47-50 per share. This IPO witnessed an extraordinary response from investors, as it was subscribed 107.43 times. The public issue was subscribed 80.70 times in the retail category and 35.52 times in the qualified institutional buyer (QIB) category.

Arvind and Company Shipping Agencies

Arvind and Company Shipping Agencies raised Rs 14.74 crore, with issue price fixed at Rs 45 per share. The IPO opened on October 12 and closed on October 16. The IPO saw unprecedented demand, with getting subscribed 359.62 times. Retail investors bought 321.96 times the allotted quota, and the portion set aside for high-net-worth individuals was oversubscribed by 436.15 times.

Also Read: Blue Jet Healthcare sets IPO price band at Rs 329-346, aims to raise Rs 840 crore

SME Listing

Committed Cargo Care

Committed Cargo Care stock listed at a 6.5 percent premium over the IPO price on October 18. It opened at Rs 82, against the issue price of Rs 77, on the NSE SME platform. This SME IPO garnered decent interest from investors, with a subscription rate of 81.36 times, as bids came in for 26.36 crore equity shares against the IPO size of 32.44 lakh. The company raised Rs 24.98 crore via IPO.