In March, Dalal Street was overflowing in IPOs (initial public offerings). The bourses - NSE and BSE - have a total of nine companies listed. These nine companies raised a total of Rs 6,255 crore. An initial public offering (IPO), also known as a stock market launch, is a public offering in which a company's shares are sold to institutional and, in most cases, retail investors. One or more investment banks underwrite an IPO and arrange for the shares to be listed on one or more stock exchanges. When a company lists its securities on a public exchange, the money paid by investors for the newly issued shares goes directly to the company, as well as any early private investors who choose to sell all or part of their holdings as part of the larger IPO.
On March 26, Kalyan Jewellers was listed at Rs 73.9, a 15.06% discount to the issue price. Kalyan Jewellers' shares fell as much as 13.44% on Friday, closing at Rs 75.30 apiece on the BSE. Kalyan Jewellers raised Rs 1,175 crore in its initial public offering, which included a fresh issue of Rs 800 crore in shares. On April 1, the stock closed at Rs 71.45, up 4.92%.
Anupam Rasayan India
Anupam Rasayan India was listed on March 24 at Rs 534.7, a 3.66% discount over the issue price. The Rs 760 crore IPO received 44.06 times bids, with the HNI quota (NII) receiving 97.42 times, the QIB quota 65.74 times, and the retail quota 10.77 times. On a restated EPS of Rs 5.80, the scrip had a PE of 95.2 times trailing 12-month at the issue price. This is more than double the peer average of 33 times. On April 1, the stock closed at Rs 517.10 up 5.43% on BSE.
Suryoday Small Finance Bank
It was listed on March 26 at Rs 293, a 3.93% discount over the issue price. According to NSE data, the Rs 582-crore issue received bids for 3,20,66,482 shares against 1,35,15,150 shares on offer. On April 1, the stock closed at Rs 273, down 0.13% on NSE.
Craftsman Automation was listed on March 25 at Rs 1350, a 9.40% discount over the issue price. Craftsman Automation shares were listed on the BSE at Rs 1,350 per share, a 9.4% discount to the issue price of Rs 1,490. On the National Stock Exchange, the stock was listed at Rs 1,359, a discount of 8.79%. On April 1, the stock closed at Rs 1,447, up 1.98% on NSE.
Laxmi Organic's Rs 600 crore initial public offering drew a massive response (IPO) Laxmi Organic Industries' stock opened at Rs 156.20 on stock exchanges, a 20% premium to its issue price of Rs 130 per share on the BSE.
The company's shares began trading at Rs 900 per share, up 43.54% from the IPO price of Rs 627 per share. Heranba Industries had a market capitalisation of Rs 3,600 crore when it went public. The company listed at Rs 900, which is over 40% premium to the issue price. On April 1, the stock closed at Rs 631, up 0.04% on NSE.
Easy Trip Planners Limited
Easy Trip Planners was listed on March 19 at Rs 206, a 10.16% premium over the issue price. The listing was subdued in comparison to the IPO's oversubscription. The Rs 510-crore issue of the online travel company was subscribed to 159 times. On April 1, the stock closed at Rs 213, up 2.05% on BSE.
Nazara Technologies Limited
Nazara Technologies was listed on March 30 at Rs 1971, a 79.02% premium over the issue price. The stock of Nazara Technologies started trading at Rs 1,971 per share, up Rs 870 or 79.02% from the IPO price of Rs 1,101 per share. On the day of the listing, the debutant stock had a market capitalization of Rs 6,002.25 crore. On April 1, the stock closed at Rs 1,670, up 13.94% on NSE.
MTAR Technologies Limited
MTAR Technologies was listed on March 15 at Rs 1063.9, an 85.03 percent premium over the issue price. MTAR Technologies made a strong market debut, trading at Rs 1,063.90 on the Bombay Stock Exchange (BSE), a premium of 85.03 percent over its issue price of Rs 575. On April 1, the stock closed at Rs 1,045, up 2.06% on BSE.