Amid the red-hot Indian main market exhibiting no indicators of slowing down, 4 mainboard public choices are gearing up for itemizing subsequent week. After stellar back-to-back debuts of Groww and Pine Labs, expectations are ripe that the upcoming listings may additionally supply sturdy beneficial properties to IPO traders, even when the gray market premium (GMP) stays weak.
Within the case of each Groww and Pine Labs, itemizing was above expectations, with the shares extending beneficial properties to as much as 31% on debut day.
The 4 IPOs that can record subsequent week embrace: PhysicsWallah, Emmvee Photovoltaic Energy, Tenneco Clear Air India and Fujiyama Energy Techniques. Here is a have a look at their GMPs forward of the itemizing subsequent week.
PhysicsWallah IPO GMP
PhysicsWallah IPO GMP right now stood at ₹6, rebounding from nil two days in the past. Because of this shares of PhysicsWallah IPO had been buying and selling ₹6 above the difficulty value of ₹109. On the prevailing GMP, PhysicsWallah shares may record at ₹115, a premium of 5.50%.
PhysicsWallah IPO allotment was finalised on Friday, November 14, following 1.81 occasions subscription for its share sale. The portion for certified institutional consumers (QIBs) fetched 2.70 occasions subscription, whereas the retail investor section subscribed 1.06 occasions. The quota for non-institutional traders was subscribed solely 48%.
The corporate fastened a value band of ₹103-109 per share for its IPO, which can peg its valuation at over ₹31,500 crore on the higher finish. The IPO comprised a recent challenge of fairness shares price ₹3,100 crore and an Supply for Sale (OFS) of as much as ₹380 crore by the promoters.
PhsicsWallah shares are anticipated to record on Tuesday, November 18.
Emmvee Photovoltaic Energy IPO GMP
Emmvee Photovoltaic Energy IPO GMP was nil. This implies shares of Emmvee Photovoltaic Energy weren’t commanding any premium within the gray market and itemizing may happen at par to the IPO value of ₹217.
Emmvee Photovoltaic’s IPO didn’t even sail by way of solely. The ₹2,900-crore IPO was booked 97% on the finish of the three-day bidding interval. The half for QIBs fetched 1.26 occasions subscription, whereas the portion for retail traders was subscribed 1.10 occasions. The class for non-institutional traders was booked 30%.
The corporate has fastened a value band at ₹206-217 per share. On the higher finish, the corporate is focusing on a valuation of over ₹15,000 crore.
The IPO comprised a recent challenge of shares price ₹2,143.86 crore and an OFS price ₹756.14 crore by promoters.
Shares of the corporate are additionally slated to record on November 18.
Tenneco Clear Air IPO GMP
Tenneco Clear Air IPO is having fun with a excessive GMP of ₹120 apiece. This implies shares of Tenneco Clear Air are buying and selling ₹120 larger than their challenge value of ₹397. On the present GMP, Tenneco Clear Air shares may record at ₹517, a premium of 20%. That is the very best GMP for the corporate to date.
Tenneco Clear Air India IPO, a part of US-based Tenneco Group, was subscribed practically 59 occasions on the ultimate day of share-sale on Friday. The portion for QIBs acquired 166.42 occasions subscription, whereas NII half was subscribed 40.74 occasions. The section for retail traders fetched 5.11 occasions subscription.
The corporate fastened the value band at ₹378-397 per share, aiming for a valuation of over ₹16,000 crore on the higher finish.
The IPO is solely an OFS by promoter Tenneco Mauritius Holdings Ltd, with no recent fairness issuance. The corporate has raised its challenge dimension to ₹3,600 crore from the sooner deliberate ₹3,000 crore, in keeping with the draft papers filed in June.
Shares of Tenneco Clear Air may record on the bourses on November 19.
Fujiyama Energy Techniques IPO GMP
Fujiyama Energy Techniques IPO GMP has remained nil. This implies shares usually are not witnessing any demand within the gray market and will record on the higher finish of the value band of ₹228.
The IPO was booked 40% on the second day of the bidding course of. The QIB half fetched 81% subscription, whereas retail investor section received subscribed 28%. The NII portion acquired 10% subscription.
The ₹828-crore IPO opened on November 13 and can shut subsequent week on November 17. The corporate has priced the IPO within the vary of ₹216-228 per share.
The IPO is a mixture of a recent challenge of fairness shares price as much as ₹600 crore and a proposal on the market of 10 lakh shares, valued ₹228 crore on the higher finish.
Its shares will record on November 20.
Disclaimer: This story is for academic functions solely. The views and suggestions expressed are these of particular person analysts or broking corporations, not Mint. We advise traders to seek the advice of with licensed consultants earlier than making any funding choices, as market situations can change quickly and circumstances might differ.
