Gujarat-based Shayona Engineering, specialises in precision engineering and industrial automation projects, has attracted 5.21 times subscription for its initial public offering on the final day of bidding, January 27.
The company approached capital markets last week to raise Rs 14.86 crore via public issue of 10.32 lakh shares at the upper end of price band of Rs 140-144 per share.
Investors bid 53.77 lakh shares against offer size via 1,711 applications with non-institutional investors taking the lead with 8.08 times subscription. The reserved portions of retail investors and qualified institutional buyers were subscribed 3.73 times, and 3.33 times, respectively.
The company will finalise IPO share allotment by January 28, while the trading in its equity shares will commence on the BSE SME effective January 30.
Shayona Engineering that involves in machining, dies and moulds, industrial automation, heavy fabrication, casting, forging, reverse engineering, and turnkey project machinery, will utilise IPO proceeds for purchasing of plant and machinery for the existing line of its business, repayment of secured loan, working capital requirements, and general corporate purposes.
Meanwhile, Tamil Nadu-based healthcare services provider Hannah Joseph Hospital's initial share sale was fully subscribed at 1.27 times on Tuesday, with investors picking up 54.64 lakh shares against offer size of 42.94 lakh shares via 742 applications.
The parts set aside for non-institutional and retail investors were subscribed 1.53 times, and 1.35 times, respectively, while the reserved portion of qualified institutional buyers was booked 88 percent.
Hannah Jospeh Hospital, a multi-speciality healthcare services provider in Madurai with 150 beds capacity hospital, is raising Rs 42 crore via public issue of 60 lakh shares. The price band for the offer is Rs 67-70 per share.
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The company intends to utilise IPO funds for establishing radiation oncology centre, and general corporate purposes.
Kasturi Metal Composite that manufactures steel fiber products for industrial applications also attracted healthy response for its IPO from investors, which was subscribed 98 percent on the first day of bidding, thanks to qualified institutional buyers.
Investors bid 19.24 lakh shares against offer size of 19.7 lakh shares via 57 applications with qualified institutional buyers taking the lead with 3 times subscription. The parts reserved for non-institutional and retail investors were subscribed 27 percent and 24 percent, respectively.
Kasturi Metal Composite aims to raise Rs 17.61 crore via IPO of 27.52 lakh shares at the upper end of price band of Rs 61-64 per share.
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