Winsol Engineers' IPO remained in strong demand at the investors' desk from the day one, as investors lapped up 46.86 crore equity shares till day 3, i.e. May 8, which was 209.98 times higher than the offer size of 22.32 lakh equity shares.
The Jamnagar-based engineering, procurement, construction and commissioning company provides balance of plant (BoP) solutions for wind and solar power generation companies.
Retail investors looked too aggressive in bidding for the issue, as they purchased 357.4 times their reserved portion. Non-institutional investors were at the second spot, picking 200.66 times the allotted quota, while qualified institutional buyers bid 16.5 times the part set aside for them.
Winsol that caters to renewable energy industry opened its Rs 23.36-crore initial share sale on May 6, with a price band at Rs 71-75 per share. The IPO comprises only a fresh issue component, hence the entire issue proceeds will go to the company.
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The fresh issue proceeds will be utilised primarily for working capital requirements, and general corporate purposes.
Meanwhile, the Refractory Shapes IPO was subscribed 35.56 times on the third day of bidding as investors purchased 15.29 crore equity shares against issue size of 43 lakh equity shares.
Retail investors as well as non-institutional investors (high networth individuals) remained at the leading position to support the issue, as they purchased 61.4 times and 35.66 times the allotted quotas. Qualified institutional buyers picked 0.07 times their reserved portion.
Refractory Shapes, which manufactures bricks, castables, high alumina catalysts and ceramic balls, aims to raise Rs 18.60 crore via public issue at the upper end of price band of Rs 27-31 per share.
Both above public issues will close on May 9.
The Rs 18.11-crore initial share sale of Silkflex Polymers (India) was subscribed 1.89 times on the second day of bidding, while the Rs 13.53-crore IPO of Finelistings Technologies saw 6.6 times subscription.
TGIF Agribusiness opened its Rs 6.39-crore public issue for subscription on Wednesday and was booked 1.4 times the IPO size.
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All these three are fixed price issue with Silkflex and TGIF closing on May 10, and Finelistings on May 9.
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