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Bumper IPO listings: 4 companies debut with at least 40% premium in 2021 so far

So far in the calendar year 2021, as many as 13 companies have raised about Rs 16,000 crore through their IPOs. During the whole of 2020, around Rs 31,000 crore was raised via 15 IPOs. Four companies have already launched issues but are not listed yet - Laxmi Organic, Anupam Rasayan, Craftman Automation and Easy Trip Planners.

March 17, 2021 / 02:13 PM IST
In 2021 so far, 10 companies have listed on the bourses after launching their initial public offerings (IPOs). Most of these issues witnessed strong demand backed by bullish sentiment in the market, overall. Eight out of these 10 stocks listed with a premium, and four of them - MTAR Technologies, Indigo Paints, Nureca, and Heranba Industries - opened at a price higher (by at least 40 percent) than the issue price. One stock debuted at the issue price. The only IPO that debuted at a discount was the public-sector enterprise Indian Railway Finance Corporation (IRFC), which listed at a price 3.85 percent lower than the issue price of Rs 26 per share. MTAR Technologies, an engineering company, listed at 84 percent premium to its issue price of Rs 575. Similarly, Indigo Paints made a debut with a 75 percent premium over its issue price of Rs 1,490. So far in calendar year 2021, as many as 13 companies have raised about Rs 16,000 crore through their IPOs. During the whole of 2020, around Rs 31,000 crore was raised via 15 IPOs. Four companies have already launched issues but are not listed yet - Laxmi Organic, Anupam Rasayan, Craftman Automation and Easy Trip Planners. Aside of these, Kalyan Jewellers has opened its issue today and more are expected to hit the market soon. Let's take a look at the 10 new debutants in the secondary market:
In 2021 so far, 10 companies have listed on the bourses after launching their initial public offerings (IPOs). Most of these issues witnessed strong demand backed by bullish sentiment in the market, overall. Eight out of these 10 stocks listed with a premium, and four of them - MTAR Technologies, Indigo Paints, Nureca, and Heranba Industries - opened at a price higher (by at least 40 percent) than the issue price. One stock debuted at the issue price. The only IPO that debuted at a discount was the public-sector enterprise Indian Railway Finance Corporation (IRFC), which listed at a price 3.85 percent lower than the issue price of Rs 26 per share. MTAR Technologies, an engineering company, listed at 84 percent premium to its issue price of Rs 575. Similarly, Indigo Paints made a debut with a 75 percent premium over its issue price of Rs 1,490. So far in calendar year 2021, as many as 13 companies have raised about Rs 16,000 crore through their IPOs. During the whole of 2020, around Rs 31,000 crore was raised via 15 IPOs. Four companies have already launched issues but are not listed yet - Laxmi Organic, Anupam Rasayan, Craftman Automation and Easy Trip Planners. Aside of these, Kalyan Jewellers has opened its issue today and more are expected to hit the market soon. Let's take a look at the 10 new debutants in the secondary market:
Engineering company, MTAR Technologies' IPO was listed on March 15, 2021, at a premium of 85 percent at Rs 1,063 over its issue price of Rs 575. On March 15, the stock closed at 1,082.50. The company raised about Rs 596 crore via its initial public offering. It was open for subscription between March 3 and March 5, and was oversubscribed 200.79x times. The public issue was subscribed 28.40x in the retail category, 164.99x in the QIB category, and 650.79x in the NII category.
Engineering company, MTAR Technologies' IPO was listed on March 15, 2021, at a premium of 85 percent at Rs 1,063 over its issue price of Rs 575. On March 15, the stock closed at 1,082.50. The company raised about Rs 596 crore via its initial public offering. It was open for subscription between March 3 and March 5, and was oversubscribed 200.79x times. The public issue was subscribed 28.40x in the retail category, 164.99x in the QIB category, and 650.79x in the NII category.
Paints manufacturer, Indigo Paints' IPO listed on February 02, 2021, at at premium of 75 percent at Rs 2607.5 over its issue price of Rs 1,490. On March 15, the stock closed at 2,464.35, which was still 65 percent above its issue price. The company raised about Rs 1,176 crore via its initial public offering. It was open for subscription between January 20 and January 22, and was oversubscribed 117.02x times. The public issue was subscribed 15.93x in the retail category, 189.57x in the QIB category, and 263.05x in the NII category.
Paints manufacturer, Indigo Paints' IPO listed on February 02, 2021, at at premium of 75 percent at Rs 2607.5 over its issue price of Rs 1,490. On March 15, the stock closed at 2,464.35, which was still 65 percent above its issue price. The company raised about Rs 1,176 crore via its initial public offering. It was open for subscription between January 20 and January 22, and was oversubscribed 117.02x times. The public issue was subscribed 15.93x in the retail category, 189.57x in the QIB category, and 263.05x in the NII category.
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Healthcare and wellness products distributor company, Nureca's IPO listed on February 25, 2021, at a 58.74 percent premium at Rs 634.95 over its issue price of Rs 400. On March 15, the stock closed at 577.60 which was still 44 percent above its issue price. The company raised about Rs 100 crore via the IPO. The issue was open for subscription between February 15 and February 17, and was oversubscribed 39.93x times. The public issue was subscribed 166.65x in the retail category, 3.10x in the QIB category, and 31.59x in the NII category.
Heranba Industries, a Gujarat-based crop protection chemical manufacturer company,  IPO listing date was on March 5, 2021, it listed at 43.54 percent premium to Rs 900 of its issue price of Rs 627. As of March 15, the stock price closed at 707.50 which was still 13 percent above its issue price.  The company raised about Rs 625 crore via IPO. It was open for subscription between February 23 and February 25 was oversubscribed 83.29x times. The public issue subscribed 11.84x in the retail category, 67.45x in the QIB category, and 271.15x in the NII category.
Heranba Industries, a Gujarat-based crop protection chemical manufacturer company, listed on bourses on March 5, 2021, at a 43.54 percent premium at Rs 900 over its issue price of Rs 627. On March 15, the stock closed at 707.50, which was still 13 percent above its issue price. The company raised about Rs 625 crore via the initial public offering. It was open for subscription between February 23 and February 25, and was oversubscribed 83.29x times. The public issue was subscribed 11.84x in the retail category, 67.45x in the QIB category, and 271.15x in the NII category.
Antony Waste Handling Cell, is one of the leaders in India's Municipal Solid Waste Management (MSW) industry, IPO listing date was on January 1, 2021, it listed at 36.51 percent premium to Rs 430 of its issue price of Rs 315. As of March 15, the stock price closed at 285.70 which was below 9 percent of its issue price.  The company raised about Rs 300 crore via IPO. It was open for subscription between December 21 and December 23 was oversubscribed 15.04x times. The public issue subscribed 16.55x in the retail category, 9.67x in the QIB category, and 18.69x in the NII category.
Antony Waste Handling Cell is one of the leaders in India's Municipal Solid Waste Management (MSW) industry. Its IPO listed on January 1, 2021, at a premium of 36.51 percent at Rs 430 over its issue price of Rs 315. On March 15, the share price closed at Rs 285.70, which was 9 percent lower than its issue price. The company raised about Rs 300 crore via IPO. It was open for subscription between December 21 and December 23, and was oversubscribed by 15.04x times. The public issue was subscribed 16.55x in the retail category, 9.67x in the QIB category, and 18.69x in the NII category.
Stove Kraft, is one of the largest Kitchen appliance suppliers in India, IPO listing date was on February 5, 2021, it listed at 21.30 percent premium to Rs 467 of its issue price of Rs 385. As of March 15, the stock price closed at 469.80 which was still above 22 percent of its issue price.  The company raised about Rs 413 crore via IPO. It was open for subscription between January 25 and January 28 was oversubscribed 18.03x times. The public issue subscribed 26.04x in the retail category, 8.02x in the QIB category, and 32.72x in the NII category.
Kitchen appliance supplier, Stove Kraft, listed its IPO on February 5, 2021, at 21.30 percent premium at Rs 467 over its issue price of Rs 385. On March 15, the stock closed at 469.80, which was still 22 percent above its issue price. The company raised about Rs 413 crore via IPO. It was open for subscription between January 25 and January 28, and was oversubscribed by 18.03x times. The public issue was subscribed 26.04x in the retail category, 8.02x in the QIB category, and 32.72x in the NII category.
Home First Finance, primarily caters to the low and middle-income groups by offering them housing loans to construct and buy homes. IPO listing date was on February 3, 2021, it listed at 18.18 percent premium to Rs 612.25 of its issue price of Rs 518. As of March 15, the stock price closed at 501.85 which was below 3 percent of its issue price.  The company raised about Rs 1,154 crore via IPO. It was open for subscription between January 21 and January 25 was oversubscribed 26.66x times. The public issue subscribed 6.59x in the retail category, 52.53x in the QIB category, and 39.00x in the NII category.
Home First Finance primarily caters to the low and middle-income groups by offering them housing loans to construct and buy homes. The company's stock listed on February 3, 2021, at 18.18 percent premium at Rs 612.25 over its issue price of Rs 518. On March 15, the stock closed at Rs 501.85, which was 3 percent below its issue price. The company raised about Rs 1,154 crore via IPO. It was open for subscription between January 21 and January 25, and was oversubscribed by 26.66x times. The public issue was subscribed 6.59x in the retail category, 52.53x in the QIB category, and 39.00x in the NII category.
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Railtel Corporation Of India is a public sector business unit, administrated by the Ministry of Railways. The IPO listed on February 26, 2021, with a premium of 11.28 percent at Rs 104.6 over its issue price of Rs 94. On March 15, the share price closed at Rs 141.60, which was 50 percent above its issue price. The company raised about Rs 819 crore via IPO. It was open for subscription between February 16 and February 18, and was oversubscribed by 42.39x times. The public issue was subscribed 16.78x in the retail category, 65.14x in the QIB category, and 73.25x in the NII category.
Brookfield IndiaReal, is India's only institutionally managed public commercial real estate company, IPO listing date was on February 17, 2021, it listed flat to Rs 275.05 of its issue price of Rs 275. As of March 15, the stock price closed at 235.10. The company raised about Rs 3,800 crore via IPO, which was the second-highest raising amount this year so far. It was open for subscription between February 3 and February 5 was oversubscribed 7.94x times. The public issue subscribed in the retail category, 4.78x in the QIB category, and 11.52x in the NII category.
Brookfield IndiaReal is India's only institutionally-managed public commercial real estate company. Its stock listed on bourses on February 17, 2021, flat at Rs 275.05 versus its issue price of Rs 275. On March 15, the stock closed at 235.10. The company raised about Rs 3,800 crore via IPO, which was the second-biggest amount raised this year so far. It was open for subscription between February 3 and February 5, and was oversubscribed by 7.94x times. The public issue was subscribed 4.78x in the QIB category and 11.52x in the NII category.
Indian Railway Finance,  is a public-sector enterprise is primarily engaged in financing the acquisition of rolling stock assets, leasing of railway infrastructure assets, and lending to entities under the Ministry of Railways. IPO listing date was on January 29, 2021, it listed at 3.85 percent discount to Rs 25 of its issue price of Rs 26. As of March 15, the stock price closed at 24.65 which was still below 5 percent of its issue price.  The company raised about Rs 4,633 crore via IPO, which was the highest raising amount this year so far. It was open for subscription between January 18 and January 20 was oversubscribed 3.49x times. The public issue subscribed 3.66x in the retail category, 3.78x in the QIB category, and 2.67x in the NII category.
Indian Railway Finance is a public-sector enterprise engaged in financing the acquisition of rolling stock assets, leasing of railway infrastructure assets, and lending to entities under the Ministry of Railways. The stock listed on January 29, 2021, at 3.85 percent discount at Rs 25 below issue price of Rs 26. On March 15, the share price closed at Rs 24.65, which was still 5 percent lower than its issue price. The company raised about Rs 4,633 crore, the biggest IPO this year so far. It was open for subscription between January 18 and January 20, and was oversubscribed by 3.49x times. The public issue was subscribed 3.66x in the retail category, 3.78x in the QIB category, and 2.67x in the NII category.
Ritesh Presswala Research Analyst at Moneycontrol
first published: Mar 16, 2021 04:39 pm

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