Sahajanand Medical IPO vs Tonbo IPO vs Bonfiglioli IPO vs Zetwerk IPO: Compare GMP, Subscription Status & More

Four mainboard IPOs worth over Rs. 8,000 crore combined will close today, October 19, and the issues have received very vivid responses from investors over the last few trading days.

Tonbo Imaging India is far ahead on both subscription and grey market premium, while Bonfiglioli Transmissions, Sahajanand Medical Technologies and Zetwerk are seeing institutional demand that the grey market is not rewarding. Allotment is expected on October 21, and all four are tentatively set to list on BSE and NSE on October 23.

Subscription: Sahajanand Medical IPO vs Tonbo IPO vs Bonfiglioli IPO vs Zetwerk IPO

By around 2:15 PM to 2:25 PM on Day 3, Tonbo Imaging was subscribed 59.23 times. The QIB portion (ex anchor) was at 72.17 times, NIIs at 125.69 times and retail at 23.41 times.

Bonfiglioli IPO was at 12.17 times, with QIBs at 15.45 times, NIIs at 26.54 times and retail at 4.15 times.
Sahajanand Medical stood at 4.63 times, with QIBs at 9.04 times, NIIs at 5.71 times and retail at 1.87 times.
Zetwerk was the weakest at 1.37 times, with QIBs at 1.86 times, NIIs at 0.93 times and retail at just 0.55 times.

GMP: Sahajanand Medical IPO vs Tonbo IPO vs Bonfiglioli IPO vs Zetwerk IPO

The grey market is seeing varied demand for all the three IPOs. Tonbo's GMP is Rs. 515, up from Rs. 500 on Day 2, which points to a listing price of Rs. 1,215 against the Rs. 700 upper band, a gain of 73.57%.

Bonfiglioli's GMP has slipped to Rs. 100 from Rs. 130, implying a listing at Rs. 686 and a 17.06% gain.

Sahajanand's GMP has more than halved to Rs. 17 from Rs. 38, implying Rs. 361 and a gain of 4.94%. Zetwerk's GMP is Rs. 3.15, implying Rs. 154.15 and a gain of just 2.09%.

Issue details: Sahajanand Medical IPO vs Tonbo IPO vs Bonfiglioli IPO vs Zetwerk IPO

Zetwerk is the largest issue at Rs. 5,012.33 crore, with a fresh issue of Rs. 2,830 crore and an OFS of Rs. 2,182.33 crore. The price band is Rs. 143 to Rs. 151, the lot size is 99 shares and the minimum investment is Rs. 14,949.

Bonfiglioli is next. It is a Rs. 2,533.66 crore issue priced at Rs. 558 to Rs. 586, with a Rs. 14,650 minimum for 25 shares. The whole issue is an OFS by its Italian parent, and it raised Rs. 759.26 crore from 73 anchor investors at Rs. 586.

Tonbo's issue is Rs. 852 crore. The price band is Rs. 665 to Rs. 700 with a lot of 21 shares, and it raised Rs. 255.36 crore from 43 anchors at Rs. 700. The minimum investment is Rs. 14,700. The issue is entirely an OFS, so the company will not receive any proceeds. The upper band values it at about Rs. 4,010 crore.

Sahajanand is the smallest at about Rs. 475 crore. It is entirely an OFS priced at Rs. 327 to Rs. 344, with a lot size of 43 shares. The minimum investment is Rs .14,792.