The action in the primary market kept investors busy on November 24, with investors rushing in for Tata Technologies, Flair Writing Industries, Fedbank Financial Services and Gandhar Oil Refinery on the final bidding day.
All the IPOs have been oversubscribed, seeing massive investor interest on the back of favourable analyst commentary.
Here's the latest subscription update of the four issues:
Also Read: Tata Tech IPO sees strong response, issue booked 69.4 times on final day
Tata Technologies
The Tata Technologies IPO, as expected, turned out to be a strong success for the Tata Group as the Rs 3,042.51-crore offer saw 69.43 times subscription with bids coming in for 312.65 crore equity shares (which is valued at Rs 1.56 lakh crore at the upper price band) against an issue size of 4.5 crore on November 24, the final day of bidding.
On Day 3, of the last day of bidding, qualified institutional buyers and high net-worth individuals (non-institutional investors), who had 50 percent and 15 percent reservations in the net issue, bought 203.41 times and 62.11 times their allotted portions.
Even retail investors, Tata Technologies employees and Tata Motors shareholders also looked aggressive in the offer, subscribing 16.50 times, 3.7 times and 29.2 times the portion set aside for them.
Also Read: Flair Writing IPO booked 46.62 times, NII portion 33.36x so far on last bidding day
Flair Writing Industries
The Rs 593-crore public issue of Flair Writing Industries was booked 46.68 times on November 24, the final day of bidding, with bids for 67.28 crore shares against an issue size of 1.44 crore. Retail investors bought 13.01 times, non-institutional investors picked up 33.37 times and qualified institutional buyers bought 115.6 times their allotted quotas.
Also Read: Gandhar Oil Refinery IPO Final Day: Issue subscribed 64 times, NII portion booked 62x
Gandhar Oil Refinery
Gandhar Oil Refinery IPO was subscribed 64.07 times on November 24, the final day of bidding, with bids coming in for 136.1 crore shares against 2.12 crore shares on the block. Qualified institutional buyers took the lead, booking 129 times their quota of shares. The portion set aside for retail investors was booked 28.95 times and that of high networth individuals 62.2. times.
Fedbank Financial Services
After a slow start, Fedbank Financial Services IPO was subscribed 2.2 times on November 24, the final day of subscription. Investors had bid for 12.3 crore shares against an issue size of 5.6 crore. Retail investors bought 1.82 times their allotted quota of shares, non-institutional investors (NIIs) picked up 1.45 times, while qualified institutional buyers (QIBs) subscribed 3.51 times the shares set aside for them.
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