Aegis Vopak Terminals, the supplier of storage terminals for LPG and varied liquid merchandise, and Schloss Bangalore Ltd, the operator of the posh motels model “The Leela” in India, are set to make their debut within the Indian inventory market subsequent week after a muted response to their preliminary public choices (IPO).
Aegis Vopak Terminals IPO itemizing date and Leela Accommodations IPO itemizing date is June 2. The fairness shares of Aegis Vopak Terminals and Leela Accommodations will probably be listed on each the inventory exchanges – BSE and NSE.
Forward of the IPO listings, traders gauge the developments within the gray market premiums (GMP) of each the shares to guage the estimated itemizing costs. Right here’s a have a look at what Aegis Vopak Terminals IPO GMP and Leela Accommodations IPO GMP immediately indicators forward of itemizing.
Aegis Vopak Terminals IPO GMP Immediately
The developments for Aegis Vopak Terminals shares within the unlisted market stays muted. Based on inventory market observers, Aegis Vopak Terminals IPO GMP immediately is simply ₹1.5 per share. Which means, within the gray market, Aegis Vopak Terminals shares are buying and selling greater by ₹1.5 apiece than their situation worth.
Contemplating the Aegis Vopak Terminals IPO GMP immediately, the estimated itemizing worth of Aegis Vopak Terminals IPO shares is ₹236.5 apiece, which is at a premium of 0.64% to the IPO worth of ₹235 per share.
Leela Accommodations IPO GMP Immediately
Leela Accommodations IPO GMP immediately additionally stays muted. As per market specialists, Leela Accommodations IPO GMP immediately is ₹3 per share. This means that the estimated itemizing worth of Leela Accommodations shares could be ₹438 apiece, a premium of 0.69% to the IPO worth of ₹435 per share.
IPO Subscription Particulars
Leela Accommodations IPO and Aegis Vopak Terminals IPO did not generate euphoria available in the market and garner huge subscriptions.
Leela Accommodations IPO was subscribed 4.50 instances in complete because it obtained bids for 20.96 crore fairness shares as in opposition to 4.66 crore shares on the supply. The general public situation was subscribed 0.83 instances within the retail class, 7.46 instances within the Certified Institutional Consumers (QIB) class, and 1.02 instances within the Non Institutional Traders (NII) section.
Aegis Vopak Terminals IPO obtained even much less curiosity, with an total subscription of two.09 instances. The general public situation subscribed 0.77 instances within the retail class, 3.30 instances in QIB, and 0.56 instances within the NII class.
Analysts attribute the subdued response for the 2 IPOs primarily to excessive valuations and unsure market sentiment.
IPO Particulars
Leela Accommodations IPO and Aegis Vopak Terminals IPO had been open for public subscription from Could 26 to Could 28. The IPO allotment was finalised on Could 29 and each the IPOs will itemizing on June 2.
The ₹3,500-crore Leela Accommodations IPO comprised a recent situation of 5.75 crore fairness shares price ₹2,500 crore and an offer-for-sale (OFS) of two.30 crore shares amounting to ₹1,000 crore. However, Aegis Vopak Terminals IPO was a ₹2,800 crore supply, solely consisting of a recent situation of 11.91 crore shares.
Aegis Vopak Terminals IPO worth band was mounted at ₹235 per share, whereas Leela Accommodations IPO worth band was set at ₹413 to ₹435 per share.
Aegis Vopak Terminals is valued at a steep price-to-earnings (P/E) a number of of 235x primarily based on FY24 earnings, considerably greater than the peer common of 42x. The corporate’s price-to-book (P/B) ratio stands at 18x, which is thrice the trade common of 6x, indicating a premium valuation.
Compared, the IPO of Leela Accommodations is priced at ₹435, translating to a P/E of 220.8x primarily based on FY25 projected EPS of ₹1.97. Whereas this valuation is greater than double the peer common of roughly 98.9x, the price-to-book ratio of two.92x seems cheap.
Disclaimer: The views and proposals made above are these of particular person analysts or broking firms, and never of Mint. We advise traders to verify with licensed specialists earlier than making any funding selections.
