The IPO street remained quiet this week, with only two listings in the mainboard segment and one issue opening in the SME space. Protean eGov Technologies stock soared 43 percent from its issue price, while ASK Automotive closed 10 percent higher. Meanwhile, in the SME space, Arrowhead Seperation Engineering was subscribed 31 times on day 2 of the subscription while Baba Food Processing stock made a muted debut. ROX Hi-Tech listed at a 62.6 premium, while Kalyani Cast Tech stole the spotlight with a stellar 90 percent premium listing.
Mainboard IPOs
Protean eGov Technologies made a muted market debut on November 13, with the stock listing at the issue price of Rs 792 on BSE. The stock closed 43 percent higher from the IPO price at Rs 1,132.1 on November 17.
The Rs 490-crore public issue was subscribed 23.86 times during November 6-8, with major support from qualified institutional buyers and high networth individuals who bought 46.94 times and 31.62 times the allotted quota. Retail investors bid 8.93 times the portion set aside for them. The price band for the issue was fixed at Rs 752-792 a share.
Also Read: Tata Tech, IREDA among 6 firms to go public next week to raise Rs 7,400 crore
ASK Automotive stock listed at an 8 percent premium to the IPO price on November 15. The stock opened at Rs 303.3 on NSE and Rs 304.9 on BSE against the issue price of Rs 282. On November 18, the stock closed 10 percent up from the issue price.
The offer received a good response from investors with the issue getting booked 51.14 times and receiving bids for 105.85 crore shares against the issue size of 2.06 crore shares. Retail investors bid 5.7 times and non-institutional investors (NII) 35.47 times the portions set aside for them. QIBs picked 142.41 times their allotted quota.
The price band for the IPO, which opened on November 7 and closed on November 9, was fixed at Rs 268-282 per share. The company raised Rs 834 crore via the public issue.
SME IPOs
Arrowhead Seperation Engineering
Arrowhead Seperation Engineering IPO was subscribed 31 times on November 17, the second day of bidding. The retail portion was booked 54 times while non-institutional investors picked 7.85 times the allotted quota.
The price for the issue, which opened on November 16 and will close on November 20, has been fixed at Rs 233 per share. Through the public offer, the company aims to raise Rs 13 crore.
The stock of Baba Food Processing made a muted debut on the NSE, listing at the IPO price of Rs 76 on November 15. The stock closed 5 percent lower on November 17.
The issue had received a good response from investors with 69 times subscription, the retail portion was booked 60 times, non-institutional investors bid 84 times, and qualified institutional buyers remained at the forefront, picking up 147 times their allotted quota.
The Baba Food Processing IPO opened for subscription on November 3 and closed on November 7. The price band for the issue was fixed at Rs 72-76 per share. Through the IPO, the company raised Rs 33 crore.
Also Read: Tata Technologies IPO: 10 things to know before subscribing to Rs 3,042 crore issue
ROX Hi-Tech stock made an impressive market debut, listing at a 62.6 percent premium at Rs 135 over the issue price of Rs 83 on November 16. The stock settled 79.2 percent higher than the IPO price on November 17.
The issue received a strong response from investors and was subscribed over 214 times. Non-institutional buyers remained at the forefront, buying 366 times, retail investors booked 204 times and qualified institutional buyers picked 106 times their allotted quota.
The price band for the issue, which opened on November 7 and closed on November 9, was fixed at Rs 80-83 per share. The company raised Rs 54.49 crore via the IPO.
Kalyani Cast Tech stock made a stellar market debut on November 17, listing at a 90 percent premium to the IPO price of Rs 139. The stock opened at Rs 264.1 on BSE SME and closed 100 percent higher at Rs 277.3 from the offer price.
The issue received a strong response from investors and was subscribed over 208 times. Non-institutional buyers remained at the forefront, buying 439 times, retail investors booked 190 times and qualified institutional buyers picked 66 times their allotted quota.
The price band for the issue, which opened on November 8 and closed on November 10, was fixed at Rs 137-139 a share. The company raised Rs 30.11 crore through the IPO.
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