In the SME segment, a total of four companies — Megatherm Induction, Harshdeep Hortico, Mayank Cattle Food and Baweja Studios — opened their initial public offerings (IPO) on January 29, the first day of bidding.
Among them, Megatherm Induction and Harshdeep Hortico IPOs were fully booked, while Mayank Cattle Food and Baweja Studios were undersubscribed.
The initial public offering of Megatherm Induction has subscribed 10.75 times as investors bought 3.83 crore equity shares against an offer size of 35.7 lakh equity shares.
Retail investors have bought 18.69 times the portion set aside for them and non-institutional investors picked 9.04 times, while the reserved portion of qualified institutional buyers was subscribed to 99.68 percent.
The induction heating and melting products manufacturer intends to raise Rs 53.91 crore through the public issue of 49.92 lakh equity shares at the upper price band.
The IPO consists of only a fresh issue of 49.92 lakh equity shares by the Kolkata-based company. The price band for the offer, which closes on January 31, has been fixed at Rs 100-108 per share.
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The public issue of Harshdeep Hortico was booked 2.31 times on Monday with investors buying 70.14 lakh equity shares against IPO size of 30.36 lakh shares.
All kinds of investors participated in the offer on the first day. Retail investors bought 3.1 times the reserved portion and qualified institutional buyers picked 2.21 times, while the part set aside for non-institutional investors was subscribed 1.06 times.
The manufacturer and supplier of pots and planters targets to mobilise Rs 19.09 crore through the book-built issue of 42.42 lakh equity shares.
This offer consists of only a fresh issue by the Maharashtra-based company. The price band for the issue has been fixed at Rs 42-45 per share.
Mayank Cattle Food, the third public issue that opened on Monday, has seen a 74 percent subscription. Investors picked 13.32 lakh equity shares against offer size of 18 lakh equity shares.
Retail investors have bought 1.1 times the portion set aside for them, while the reserved portion of non-institutional investors was subscribed 46 percent.
The Gujarat-based oil company that manufactures cattle food, animal food, cattle food cake and edible oil intends to raise Rs 19.44 crore through the fixed price issue. The issue price is at Rs 108 per share.
The Baweja Studios IPO has seen the lowest subscription numbers among these four public issues, subscribing 36 percent with investors buying 18.26 lakh equity shares against an offer size of 50.73 lakh shares.
Retail investors picked 60 percent of shares of the portion reserved, and non-institutional investors 25 percent, but qualified institutional buyers are yet to participate in the offer.
Also read: BLS E-Services IPO opens on Jan 30: 10 things to know before you buy into Rs 310-cr issue
Baweja Studios is the biggest IPO in size amongst the public issues opening today.
The technology-based commercial films production company is planning to raise Rs 97.2 crore via an IPO, which is a mix of a fresh issuance of shares worth Rs 72 crore, and an offer-for-sale of 14 lakh equity shares worth Rs 25.2 crore by promoter Harjaspal Singh Baweja.
The price band for the book-built issue, which will close on February 1, has been fixed at Rs 170-180 per share.
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