Meesho, Aequs, Vidya Wires IPOs enter final bidding day; GMPs climb on robust subscription

Meesho, Aequs, Vidya Wires IPOs see robust subscription. 

Meesho, Aequs and Vidya Wires entered the final day of bidding on Friday with all three initial public offerings (IPOs) drawing strong investor interest. Grey market premiums (GMPs) for the issues were also seen rising in the unregulated market, indicating sustained demand, according to Investorgain.

SoftBank-backed Meesho’s IPO was subscribed 7.97 times by the end of Thursday, the second day of bidding. The issue drew bids for about 221.60 crore shares against 27.79 crore shares on offer, as per NSE data.

The non-institutional investor category received 9.18 times subscription, while the retail portion was subscribed 9.14 times. The quota for qualified institutional buyers (QIBs) was subscribed 6.96 times. On Wednesday, the issue had seen 2.35 times subscription on the first day.

Meesho had raised a little over Rs 2,439 crore from anchor investors on Tuesday. The Rs 5,421-crore IPO, with a price band of Rs 105-111 per share, will close on Friday.

The IPO of contract manufacturing firm Aequs Ltd was subscribed 11.10 times on Thursday. The issue received bids for 46.66 crore shares against 4.20 crore shares on offer.

The retail category saw 32.92 times subscription, the non-institutional portion 16.81 times, and the QIB quota 73 percent. The issue had been subscribed 3.42 times on the opening day.

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Aequs had raised Rs 414 crore from anchor investors. The Rs 922-crore IPO, priced at Rs 118-124 per share, will also close on Friday.

Vidya Wires Ltd’s IPO was subscribed 8.26 times on Thursday. Investors bid for 35.78 crore shares against 4.33 crore shares on offer.

Retail investors subscribed 11.45 times, non-institutional investors 10 times, and QIBs 1.30 times. The IPO had been fully subscribed within hours of opening on Wednesday and ended the first day with 2.89 times subscription.

Vidya Wires had raised Rs 90 crore from anchor investors. The Rs 300-crore IPO, priced between Rs 48 and Rs 52 per share, will close on Friday.

All three mainboard issues are scheduled to be listed on NSE and BSE on December 10, while allotment is likely to be finalised on December 8.

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