The stock market was ablaze with IPO excitement this week, featuring four mainboards and seven SME listings. While a few stocks listed at a discount, some opened at over 100 percent premium. But the star of the show, the one that had everyone's eyes glued to the ticker tape, was JSW Group's stellar re-entry into the primary market after 13 years.
JSW Infrastructure became the talk of the town as it sparked a buying frenzy and was oversubscribed 37 times. In the SME market, the spotlight shone brightly on Digikore Studios. This left all the other IPOs in the dust as the issue was subscribed 281 times.
More than 10 SME IPOs closed this week and on the mainboard, Plaza Wires public issue witnessed the highest-ever subscription in the retail category. The public offer was oversubscribed 160.97 times and the retail investors created history by subscribing 374.81 times.
Let's have a look at all the mainboard and SME IPOs listed this week:
Mainboard
JSW Infra stock listed at a 20 percent premium to the issue price on bourses on October 3. The stock listed at Rs 143 on both NSE and BSE against the IPO price of Rs 119. The Rs 2,800-crore issue was subscribed 37.37 times during September 25-27 with major support from qualified institutional buyers (QIB) who bought 57.09 times the allotted quota. High net-worth individuals subscribed 15.99 times and retail investors 10.32 times the portion set aside for them.
ALSO READ: What should you do with JSW Infra stock?
Manoj Vaibhav Gems N Jewellers (Vaibhav Jewellers) made a tepid debut on bourses on October 3, listing at par with its IPO price of Rs 215. The 270.2 crore IPO was subscribed 2.25 times. High net-worth individuals led the support to the offer, subscribing for 5.18 times the allotted quota, while the issue received a muted response from qualified institutional buyers, and retail investors as they bought 1.06 times and 1.66 times the reserved portion respectively.
ALSO READ: What should you do with Vaibhav Jewellers stock?
Updater Services saw a weak listing, opening at a 5 percent discount on October 4. The stock listed at Rs 285 on the NSE and Rs 299.9 on the BSE, against an issue price of Rs 300. The Rs 640 crore IPO was subscribed 2.9 times with bids coming in for 3.47 crore equity shares against 1.2 crore shares. Retail investors picked 1.38 times shares against their allotted quota, while the portion reserved for high net worth individuals was subscribed 85 percent. Qualified institutional buyers (QIB), bought 4.48 times the part set aside for them.
ALSO READ: What should you do with Updater Services stock?
Valiant Laboratories shares listed at 15.8 percent premium on bourses on October 6. The stock debuted at Rs 162.15 on the NSE and Rs 161 on the BSE against the issue price of Rs 140. The Rs 152 crore issue was subscribed 29.76 times with investors buying 22.68 crore shares against the offer size of 76.23 lakh. High net worth individuals bought 73.64 times their quota of shares and retail investors 16.06 times the shares allotted to them.
ALSO READ: What should you do with Valiant Laboratories stock?
SMEs
Saakshi Medtech and Panels stock made a stellar debut on October 3, listing at a 50.5 percent premium to the issue price of Rs 97. The stock listed at Rs 146 on the NSE SME platform. The issue was subscribed 91.65 times. The retail investors subscribed 75.88 times the portion set aside for them, qualified institutional buyers 37.35 times and the shares reserved for non-institutional investors (NII) were subscribed 200.78 times. The company raised Rs 45.16 crore via IPO.
Digikore Studios listed at a 57.8 percent premium at Rs 270 on the NSE SME, against the issue price of Rs 171 on October 4. The Rs 30.48 crore IPO was subscribed 281.58 times with the retail category seeing 370.17 times subscription, 65.63 times in the QIB category, and 362.65 times in the NII category.
Mangalam Alloys made a muted market debut on October 4, listing at par with the issue price of Rs 80 on the NSE SME. The public issue was subscribed 5.57 times. The retail portion was subscribed 8.73 times and the non-institutional investors (NII) part 2.41 times. The stainless steel product manufacturer raised Rs 54.91 crore through the offer.
Inspire Films stock made a decent debut on October 5, listing at a 13.5 percent premium over the IPO price. The stock listed at Rs 67 against the issue price of Rs 59 on NSE SME. The issue was subscribed 129.08 times. Retail investors picked 180.41 times, qualified institutional buyers (QIB) bought 25.27 times and non-institutional investors (NII) subscribed 147.16 times.
Newjaisa Technologies shares made a strong debut, listing at a 51 percent premium over the IPO price on October 5. The stock listed at Rs 71 against the issue price of Rs 47 on NSE SME. The Rs 39.93 crore public issue was subscribed 6.85 times. Retail investors subscribed 6.54 times, qualified institutional buyers (QIB) 1.02 times and non-institutional investors (NII) 15.34 times.
Organic Recycling Systems shares listed at a 7.5 percent premium to the issue price on the BSE SME platform. The stock opened at Rs 215 against the IPO price of Rs 200 on October 6. The public issue was subscribed 2.21 times in the retail category and 4.28 times in the NII (non-institutional investor) category. The company raised Rs 50 crore via IPO.
Vinyas Innovative Technologies
Vinyas Innovative Technologies Ltd shares debuted at a 100 percent premium over the IPO price on October 6. The stock opened at Rs 330 against the issue price of Rs 165 on the NSE SME. The company raised Rs 54.66 crore via IPO. The issue was subscribed 43.24 times. Retail investors bought 21.27 times, QIBs picked 42.74 times and NIIs subscribed 95.16 times.
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