IPO Weekly Wrap: DOMS, India Shelter Finance, Inox, and 8 SME Issues in Market Spotlight

IPO Street was buzzing with activity this week as numerous companies made their debut in the primary market. Here’s a recap of the key Initial Public Offerings (IPOs) that grabbed investors’ attention:

Mainboard IPOs:

  1. DOMS Industries IPO:
    • DOMS Industries’ IPO garnered an overwhelming response from investors, with the issue being oversubscribed 93.52 times on the final day of bidding, which was December 15. Investors snapped up 82.64 crore shares against an IPO size of 88.37 lakh shares.
    • Retail investors subscribed 69.65 times their allotted quota, HNIs picked up 66.51 times their reserved portion, and QIBs oversubscribed 115.97 times. Employees also showed strong participation, buying 29.21 times the reserved quota.
    • The company successfully raised Rs 1,200 crore from the public issue, which included a fresh issue of 44.3 lakh shares worth Rs 350 crore and an offer-for-sale (OFS) of 1.07 crore shares. The IPO price band was set at Rs 750-790 per share.
  2. India Shelter Finance IPO:
    • India Shelter Finance Corporation’s IPO witnessed a subscription of 36.71 times on the final day of bidding, December 15, with bids received for 65.75 crore shares against an issue size of 1.79 crore shares.
    • Retail investors subscribed 9.95 times, HNIs oversubscribed 28.51 times, and QIBs subscribed 89.7 times their allotted quota.
    • The company successfully raised Rs 1,200 crore from the IPO, consisting of a fresh issue of 1.62 crore shares worth Rs 800 crore and an offer-for-sale of 81.13 lakh shares worth Rs 400 crore. The IPO price band was set at Rs 469-493 per share.
  3. Inox India IPO:
    • Inox India’s Rs 1,459.32 crore IPO was subscribed 7.07 times by December 15, the second day of bidding. The offer received bids for 10.94 crore shares against the issue size of 1.55 crore.
    • HNIs led the subscription, oversubscribing their allotted quota by 13.73 times. The retail portion was subscribed 8.17 times, and QIBs booked 17 percent of their allocated shares.
    • The Vadodara-based cryogenic tanks manufacturing company aimed to raise Rs 1,459.32 crore through the IPO, which is entirely an offer for sale. The IPO price band is set at Rs 627-660 per share and is scheduled to close on December 18.

Also See: All IPO GMP Today

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SME IPOs:

  1. Presstonic Engineering IPO: Presstonic Engineering’s Rs 23.3-crore IPO witnessed exceptional demand, with a subscription of 168 times on December 13, the final day of bidding. The issue price was fixed at Rs 72 per share.
  2. S J Logistics IPO: S J Logistics’ IPO was oversubscribed 316 times on December 14, raising Rs 48 crore. The IPO price band was set at Rs 121-125 per share.
  3. Benchmark Computer Solutions IPO: Benchmark Computer Solutions IPO was subscribed 30 times on December 15, the second day of bidding, with plans to raise Rs 12.24 crore. The issue price was fixed at Rs 66 per share.
  4. Siyaram Recycling IPO: Siyaram Recycling IPO was subscribed 59.9 times on December 15, the second day of bidding. The company aimed to raise Rs 22.96 crore, with the IPO price band set at Rs 43-46 per share.
  5. Shree OSFM E-Mobility IPO: Shree OSFM E-Mobility IPO was subscribed 3.5 times on December 15, the second day of bidding, aiming to raise Rs 24.6 crore. The issue price was fixed at Rs 65 per share.

SME Listings:

  1. Sheetal Universal IPO: Sheetal Universal stock made a decent debut, listing at a 7 percent premium over the IPO price on December 11. The issue received strong investor interest, being subscribed 179 times, with the retail portion oversubscribed 129 times.
  2. Accent Microcell IPO: Accent Microcell stock made an impressive market debut, listing at a 114 percent premium to the IPO price on December 15. The issue attracted significant interest from investors, being subscribed 337.01 times, with HNIs bidding 577.01 times and retail investors picking 409.71 times the reserved portion.
  3. Graphisads IPO: Graphisads had a weak market debut on December 13, listing at a 0.45 percent premium to the issue price of Rs 111. The issue received a tepid response, being subscribed 3.86 times, with the retail portion booked 5.52 times.

The IPO market continues to witness robust activity, with companies across various sectors attracting strong investor interest. As the year comes to a close, the primary market remains dynamic and full of opportunities for both issuers and investors.

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