Synopsis
IPOs – Weekly Wrap and Week Ahead
We will round up the IPOs – Weekly Wrap (week ended – 15th December 2023) and Week Ahead (Week Starting – 18th December 2023) listings and new issues as part of this article.
IPOs – Past Week Wrap up
This week, the IPO Street was buzzing with excitement as several companies made their first appearance in the primary market. DOMS Industries and India Shelter Finance wrapped up their public offerings on the mainboard, and Inox India’s offer is scheduled to conclude on Monday. In the SME arena, investors were kept engaged by Presstonic Engineering, S J Logistics, Benchmark Computer Solutions, Siyaram Recycling, Shree OSFM E-Mobility, Sheetal Universal, Accent Microcell, and Graphisads. Let’s take a closer look at the specifics of these IPOs.
![IPO](https://thesundayfinancials.com/wp-content/uploads/2023/12/AdobeStock_434289408-1024x450.jpeg)
Read More: Enhance Your Understanding towards Stock Market Basics.
Primary Mainboard IPO
DOMS Industries
![DOMS Industries](https://thesundayfinancials.com/wp-content/uploads/2023/12/Screenshot-2023-12-17-at-4.22.07 PM-1024x469.png)
- The Doms Industries IPO saw a robust response from participants, with the final day of bidding on December 15 witnessing a subscription of 93.52 times.
- Investors snapped up 82.64 crore shares, surpassing the IPO size of 88.37 lakh shares.
- Retail investors showed keen interest, subscribing 69.65 times their allotted quota. High net-worth individuals (HNI) followed suit, picking up 66.51 times their reserved portion. The Qualified institutional buyers (QIB) category saw an impressive subscription of 115.97 times. Even employees displayed strong participation, buying 29.21 times the reserved quota.
- The company garnered Rs 1,200 crore from the public offering. They issued 44.3 lakh shares, raising Rs 350 crore, and also had an offer-for-sale (OFS) of 1.07 crore shares. The share price ranged between Rs 750 and Rs 790 during the offering.
- Speculation on Allotments is as below,
- HNI: 2 out of 25 will get 270 shares.
- QIB: 2 out of 117 will get 270 shares.
- Retail Investors: 1 out of 49 will get 18 shares.
- Expected listing price would be ₹1320 per share, seems to be a 67.09% higher than the IPO price.
India Shelter Finance
- On the last day of bidding, December 15, India Shelter Finance Corporation’s public offering received overwhelming interest, being subscribed 36.71 times.
- Bids were placed for 65.75 crore shares, well above the issue size of 1.79 crore shares. Retail investors subscribed 9.95 times, HNIs showed strong interest at 28.51 times, and QIBs subscribed a significant 89.7 times their allotted quota.
- The IPO successfully raised Rs 1,200 crore, comprising a fresh issue of 1.62 crore shares valued at Rs 800 crore and an offer-for-sale of 81.13 lakh shares worth Rs 400 crore. The share price range for the offering was set at Rs 469-493 per share.
- Speculation on Allotments is as below,
- HNI: 2 out of 11 will get 420 shares.
- QIB: 1 out of 29 will get 420 shares.
- Retail Investors: 2 out of 17 will get 30 shares.
- Expected listing price would be ₹683 per share, as per the latest Grey Market Premium (GMP).
Inox India
- On the second day of bidding, December 15, Inox India’s IPO of Rs 1,459.32 crore saw a subscription of 7.07 times. The total bids reached 10.94 crore shares, surpassing the issue size of 1.55 crore.
- High net-worth individuals (HNIs) led the way, subscribing 13.73 times their allocated shares. Retail investors showed strong interest, subscribing 8.17 times, while the portion reserved for qualified institutional buyers (QIBs) was 17 percent filled.
- The Vadodara-based company, specializing in cryogenic tanks manufacturing, aims to raise Rs 1,459.32 crore through this IPO, which is exclusively an offer for sale. The price range for the offer, closing on December 18, is set at Rs 627-660 per share.
SME IPOs
Presstonic Engineering
- On the last day of bidding, December 13, Presstonic Engineering’s IPO of Rs 23.3 crore was oversubscribed by an impressive 168 times. The share price for the offering was set at Rs 72 per share.
S J Logistics
- On December 14, the last day of bidding, S J Logistics’ IPO was oversubscribed an incredible 316 times. The company successfully raised Rs 48 crore from the IPO, with a price range of Rs 121-125 per share.
Benchmark Computer Solutions
- On the second day of bidding, December 15, Benchmark Computer Solutions IPO was subscribed 30 times. The company aims to raise Rs 12.24 crore from the IPO, and the share price for the offering is set at Rs 66 per share.
Siyaram Recycling
- On the second day of bidding, December 15, Siyaram Recycling’s IPO saw a subscription of 59.9 times. The company aims to raise Rs 22.96 crore from the IPO, with the share price set in the range of Rs 43-46 per share.
Shree OSFM E-Mobility
- On the second day of bidding, December 15, Shree OSFM E-Mobility’s IPO garnered a subscription of 3.5 times. The company aims to raise Rs 24.6 crore from the IPO, with the share price set at Rs 65 per share.
Last Week SME Listings
Sheetal Universal
- Sheetal Universal stock had a promising debut, entering the market at a 7 percent premium over the IPO price on December 11. Opening at Rs 75 on the NSE SME platform, it exceeded the issue price of Rs 70.
- The IPO drew significant investor interest, with a subscription rate of 179 times, and the retail portion being booked 129 times the allotted quota.
Accent Microcell
- Accent Microcell stock had a remarkable market debut, starting at a whopping 114 percent premium to the IPO price on December 15. Opening at Rs 300 on the NSE SME platform, it exceeded the issue price of Rs 140.
- The IPO generated immense interest from investors, with a subscription rate of 337.01 times. High net-worth individuals (HNIs) bid 577.01 times, and retail investors subscribed at a rate of 409.71 times the reserved portion.
Graphisads
- Graphisads had a subdued market debut on December 13, entering at a marginal 0.45 percent premium over the issue price of Rs 111. Shortly after listing, the stock declined by 4.5 percent to Rs 105.95 on the NSE SME platform.
- In contrast to some other SME IPOs, the response to this offering was moderate. It garnered a subscription of 3.86 times, with the retail portion being booked 5.52 times.
Stay Ahead in the Market, by reviewing our Week Ahead in the Markets series on every Sunday/Monday.
Surge of IPOs | 12 public issues set to debut on Dalal Street, including 8 scheduled listings
![Floods of IPOs](https://thesundayfinancials.com/wp-content/uploads/2023/12/tsunami-flood-of-water-2023-11-27-04-58-49-utc-1024x575.jpg)
A wave of IPOs is set for the upcoming week! Twelve companies are gearing up to raise over Rs 4,600 crore starting December 18. This follows hot on the heels of last week’s IPO frenzy, where companies raised nearly Rs 4,000 crore by December 15.
Dalal Street is buzzing with optimism as benchmark indices, broader markets, and various sectors hit new milestones daily. This upbeat atmosphere extends to the primary market, which is now brimming with energy, offering numerous investment opportunities. Twelve companies are set to launch their initial public offerings next week, accompanied by eight new listings.
This positive sentiment can be attributed to robust economic growth, optimism about policy continuity post-state election results, anticipated easing of monetary policy by central banks in the coming year, favorable oil prices, expectations of strong earnings growth, and a healthy influx of domestic funds.
Looking at the year’s data so far, a total of 239 companies are expected to raise Rs 57,720 crore, including SMEs. While this is slightly lower than the Rs 61,900 crore raised by 150 IPOs last year (2022), the outlook remains promising.
Muthoot Microfin IPO
- Next week, Muthoot Microfin, a microfinance institution, kicks off the IPO lineup on December 18. Each share is priced between Rs 277 and Rs 291, aiming to raise Rs 960 crore at the upper end. The IPO closes on December 20.
- On December 15, just before the public offering began, Muthoot Microfin secured Rs 285 crore through an anchor book.
IPO Date | 18-Dec-2023 to 20-Dec-2023 |
Face Value | ₹10 per share |
Price Band | ₹277 to ₹291 per share |
Lot Size | 51 Shares |
Total Issue Size | 32,989,690 shares |
(aggregating up to ₹960.00 Cr) | |
Fresh Issue | 26,116,838 shares |
(aggregating up to ₹760.00 Cr) | |
Offer for Sale | 6,872,852 shares of ₹10 |
(aggregating up to ₹200.00 Cr) | |
Employee Discount | Rs 14 per share |
Listing At | BSE, NSE |
Share holding pre issue | 116,837,249 |
Share holding post issue | 142,954,087 |
Lot Sizes:
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 51 | ₹14,841 |
Retail (Max) | 13 | 663 | ₹192,933 |
S-HNI (Min) | 14 | 714 | ₹207,774 |
S-HNI (Max) | 67 | 3,417 | ₹994,347 |
B-HNI (Min) | 68 | 3,468 | ₹1,009,188 |
Motisons Jewellers IPO
- Motisons Jewellers, a jewelry retailer based in Jaipur, is set to launch its IPO from December 18 to 20, aiming to raise Rs 151 crore. The share price is in the range of Rs 52 to Rs 55.
- Before the IPO kicked off, Motisons Jewellers secured Rs 36.3 crore from a couple of anchor investors on December 15.
IPO Date | 18-Dec-2023 to 20-Dec-2023 |
Face Value | ₹10 per share |
Price Band | ₹52 to ₹55 per share |
Lot Size | 250 Shares |
Total Issue Size | 27,471,000 shares |
(aggregating up to ₹151.09 Cr) | |
Fresh Issue | 27,471,000 shares |
(aggregating up to ₹151.09 Cr) | |
Listing At | BSE, NSE |
Share holding pre issue | 70,975,000 |
Share holding post issue | 98,446,000 |
Lot Sizes:
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 250 | ₹13,750 |
Retail (Max) | 14 | 3500 | ₹192,500 |
S-HNI (Min) | 15 | 3,750 | ₹206,250 |
S-HNI (Max) | 72 | 18,000 | ₹990,000 |
B-HNI (Min) | 73 | 18,250 | ₹1,003,750 |
Suraj Estate Developers IPO
- Joining Muthoot and Motisons, a Mumbai-based real estate developer is gearing up for its first-ever public issue from December 18 to 20. They aim to raise Rs 400 crore, with the share price set between Rs 340 and Rs 360.
- Ahead of the public issue, the company has already secured Rs 120 crore from various anchor investors on December 15.
IPO Date | 18-Dec-2023 to 20-Dec-2023 |
Face Value | ₹5 per share |
Price Band | ₹340 to ₹360 per share |
Lot Size | 41 Shares |
Total Issue Size | 11,111,111 shares |
(aggregating up to ₹400.00 Cr) | |
Fresh Issue | 11,111,111 shares |
(aggregating up to ₹400.00 Cr) | |
Listing At | BSE, NSE |
Share holding pre issue | 33,250,000 |
Share holding post issue | 44,361,111 |
Lot Sizes:
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 41 | ₹14,760 |
Retail (Max) | 13 | 533 | ₹191,880 |
S-HNI (Min) | 14 | 574 | ₹206,640 |
S-HNI (Max) | 67 | 2,747 | ₹988,920 |
B-HNI (Min) | 68 | 2,788 | ₹1,003,680 |
Happy Forgings IPO
- On December 19, the action continues with three more IPO launches.
- Happy Forgings, a Punjab-based manufacturer specializing in heavy forgings and high-precision machined components, kicks off its Rs 1,009-crore public issue from December 19 to 21. The share price is set between Rs 808 and Rs 850.
IPO Date | 19-Dec-2023 to 21-Dec-2023 |
Face Value | ₹2 per share |
Price Band | ₹808 to ₹850 per share |
Lot Size | 17 Shares |
Total Issue Size | [.] shares |
(aggregating up to ₹[.] Cr) | |
Fresh Issue | [.] shares |
(aggregating up to ₹400.00 Cr) | |
Offer for Sale | 7,159,920 shares of ₹2 |
(aggregating up to ₹608.59 Cr) | |
Listing At | BSE, NSE |
Share holding pre issue | 89,499,000 |
Lot Sizes:
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 17 | ₹14,450 |
Retail (Max) | 13 | 221 | ₹187,850 |
S-HNI (Min) | 14 | 238 | ₹202,300 |
S-HNI (Max) | 69 | 1,173 | ₹997,050 |
B-HNI (Min) | 70 | 1,190 | ₹1,011,500 |
RBZ Jewellers IPO
- The antique bridal gold jewelry maker is launching its first-ever public issue, aiming for Rs 100 crore.
- The IPO will be open from December 19 to 21, making it the fourth company to go public this year after Motison Jewellers, Senco Gold, and Vaibhav Jewellers. The share price is set in the range of Rs 95 to Rs 100.
IPO Date | 19-Dec-2023 to 21-Dec-2023 |
Face Value | ₹10 per share |
Price Band | ₹95 to ₹100 per share |
Lot Size | 150 Shares |
Total Issue Size | 10,000,000 shares |
(aggregating up to ₹100.00 Cr) | |
Fresh Issue | 10,000,000 shares |
(aggregating up to ₹100.00 Cr) | |
Listing At | BSE, NSE |
Share holding pre issue | 30,000,000 |
Share holding post issue | 40,000,000 |
Lot Sizes:
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 150 | ₹15,000 |
Retail (Max) | 13 | 1950 | ₹195,000 |
S-HNI (Min) | 14 | 2,100 | ₹210,000 |
S-HNI (Max) | 66 | 9,900 | ₹990,000 |
B-HNI (Min) | 67 | 10,050 | ₹1,005,000 |
Credo Brands Marketing IPO
- Next week, the owner of the Mufti Jeans brand, based in Mumbai, is gearing up for its IPO from December 19 to 21.
- Credo Brands is looking to raise Rs 549.78 crore through the public offering, with the share price ranging between Rs 266 and Rs 280 per share.
Azad Engineering IPO
- Azad Engineering’s IPO, valued at Rs 740 crore, is set to open on December 20. You can subscribe to it at a price ranging from Rs 499 to Rs 524 per equity share.
- The opportunity to bid on this offer will be available until December 22. Based in Telangana, Azad Engineering specializes in manufacturing products for global OEMs in industries like energy, aerospace and defense, and oil and gas.
Innova Captab IPO
- The final public issue on the mainboard for the upcoming week is from a pharmaceutical manufacturing company in Himachal Pradesh. The subscription for this IPO begins on December 21 and runs through December 26.
- This pharmaceutical firm, specializing in finished dosage formulation manufacturing, aims to raise Rs 570 crore through the public issue. You can participate at a price range of Rs 426 to Rs 448 per share.
Small and medium Enterprise (SME) Segment
- Upcoming week, four companies in the SME segment are set to launch their first public issues.
- Kicking off on December 18 is Sahara Maritime with a Rs 6.88-crore IPO. The fixed price offering closes on December 20, and each share is priced at Rs 81.
- Following that, Shanti Spintex and Electro Force (India) open their IPOs for subscription from December 19 to 21.
- Shanti Spintex aims to raise Rs 31.25 crore with a price band of Rs 66-70 per share.
- Electro Force (India) plans to raise Rs 80.68 crore at a fixed issue price of Rs 93 per share.
- Trident Techlabs IPO subscription starts on December 21 and runs through December 26, with each share priced between Rs 33 and Rs 35, raising a total of Rs 16.03 crore.
- Closing their IPOs on December 18 are Shree OSFM E-Mobility, Siyaram Recycling Industries, and Benchmark Computer Solutions, which opened for bidding on December 14.
- In the last two days, Shree OSFM E-Mobility’s IPO subscription was 2.88 times, Siyaram Recycling Industries reached 55.79 times, and Benchmark Computer Solutions was at 28.54 times.
Listings in Upcoming Week
- In the mainboard segment,
- Doms Industries, a stationery, and art products manufacturer, along with affordable housing finance company India Shelter Finance Corporation, are scheduled to debut on the stock exchanges on December 20.
- Inox India will make its debut on December 21, following the T+3 timeline.
- On the SME segment front, there are five new listings.
- Presstonic Engineering and S J Logistics (India) will debut on the NSE Emerge on December 18 and December 19, respectively.
- Shree OSFM E-Mobility will join the list on December 21.
- Additionally, trading in Siyaram Recycling Industries and Benchmark Computer Solutions shares on the BSE SME will commence from December 21.
Overall, it’s going to be a yet another busy week in Dalal Street, with these many new listings and new issues. Stay updated with us. Happy Investing and all the best to all IPO applicants.
Disclaimer: All information shared in this blog posts are only for education purpose and not an investment advise. Please do your own research or consult an authorised Financial Planner/Advisor to start investing as per your Financial goals/needs and Risk Appetite.