Initial Public Offerings (IPOs) this year have seen healthy participation, especially in the second half. Over Rs 30,000 crore was raised by 25-odd companies listed for the first time on the stock exchanges in 2020.
Encouraged by positive economic recovery signs and a bullish stock market, most investors were betting on IPOs for listing gains.
The April-June period was a little weak due to COVID-19 panic and uncertainty. However, after the SBI Card IPO, the primary market picked up momentum in July with the easing of lockdown measures.
Here is a look at the top 7 IPOs that received the most number of bids so far:
1. Mrs Bectors: 199.4 times
The most recent IPO to close in 2020 (ended on 17 December) garnered 199.41 times subscription, making it the most successful issue of the calendar year. As per data from the stock exchanges, Mrs Bectors IPO received bids worth more than Rs 40,000 crore.
Wealthy investors flocked to bet on similar listing gains with high networth individual (HNI) portion seeing 620 times more demand than shares on offer.
The qualified institutional buyer (QIB) portion was subscribed 177 times and retail category saw nearly 30 times subscription.
Shares of the biscuit maker are scheduled to debut on the Indian stock exchanges on 28 December 2020.
2. Mazagon Dock Shipbuilders Limited: 157.4 times
The IPO of the defence public sector undertaking shipyard under the Ministry of Defence was open from 29 September to 1 October 2020 and was subscribed 157.41 times.
Shares of Mazagon Dock made a strong debut at Rs 216.25 on BSE, a premium of 49.13% against the issue price of Rs 145 apiece. The Rs 444 crore initial public offer (IPO) had garnered the highest response ever among initial public offerings of public sector undertakings (PSUs).
3. Burger King India Limited: 156.6 times
The quick-service restaurant chain received strong interest owing to attractive valuations, strong brand positioning, healthy financial prospects, expected robust store expansion plans in India.
The stock gained a massive 131% and hit Rs 138.40 per share against the issue price of Rs 60 as on its listing day - 14 December 2020.
Burger King's Rs 810 crore IPO was open from 2 to 4 December 2020.
4. Happiest Minds Technologies Ltd: 150.98 times
IPO of the IT solution services provider was open from 7 to 9 September and was subscribed 150.98 times.
Shares of Happiest Minds Technologies gained 123% to Rs 371.00 a piece on its listing day - 17 September- as against the issue price of Rs 166.
5. Chemcon Speciality Chemicals Limited: 149.3 times
Chemcon Speciality Chemicals IPO, that was open from 21 to 23 September, was subscribed 149.3 times. The stock was listed at a bumper premium of 115% on 1 October 2020 at Rs 731 as against the issue price of Rs 340.
The speciality chemicals manufacturer of pharma chemicals (HMDS, CMIC) and oilwell completion chemicals (inorganic bromides) had a small issue size of Rs 318 crore but received stellar response from all categories of investors.
6. Rossari Biotech Ltd: 79 times
The specialty chemicals manufacturer's IPO was subscribed almost 80 times from 13 to 15 July 2020. Qualified institutional buyers (QIBs) subscribed to the issue 85 times, while non-institutional investors subscribed 239 times, and retail investors subscribed their portion over 7 times.
On the listing day (23 July), shares of Rossari Biotech gained 75% to Rs 742.35 as against the issue price of Rs 425.
7. Route Mobile Ltd: 73 times
The Communications Platform as a Service (CPaaS) provider and a tier-one application-to-peer (A2P) service provider was listed at 105% premium on 21 September at Rs 717 against the issue price of Rs 350.
The Route Mobile IPO was open from 9 to 11 September 2020 and attracted 73.29 times subscription, with non-institutional investor bids attracting 101 times bids, QIB (qualified institutional buyers) 53 times and retail 12 times.