The primary issues of Arkade Developers, Northern Arc Capital and Western Carriers India closed for bidding on Thursday, September 19 and the basis of allotment for all the three IPOs is likely to be finalized today, that is on Friday, September 20. All three companies will be listed at the bourses on Tuesday, September 24.
Amid the busy IPO season, all the three issues managed to draw investors interest during the bidding process. However, investors from retail and HNI categories are concerned about the odds of allotment of shares to them in their bids after a decent subscription across all categories.
Mumbai-based Arkade Developers sold its IPO in the price band of Rs 121-128 per share with a lot size of 110 shares, which was open for bidding between September 16 and September 19. The company aimed to raise around Rs 410 crore from its primary offering, which was entirely a fresh share sale of 3,20,310,250 equity shares. The issue was overall booked 106.83 times.
As per the allotment matrix, two only one retail investor out of 46 will get allotment, while in the small HNI category only one investor out of 167 will get the allotment. In the big HNI category, where the investment amount is more than Rs 10 lakh, one out of 67 bidders will get the allotment of shares.
The IPO of Northern Arc Capital was open for bidding between September 16-19. The company had offered its shares in the fixed price band of Rs 249-263 per share with a lot size of 57 shares. The company raised about Rs 777 crore via its primary offering, which saw a solid bidding and was overall subscribed a solid 110.91 times.
The allotment matrix of Northern Arc suggests issuance of shares to one investor out of 27 bidders in the retail category, whereas small HNI investors will see only one bidder out of 116 getting allotment of shares. For the big HNI portion, one out of 32 investors will go lucky for the bids.
The IPO of Western Carriers India ran for five days, between September 13-19. It had offered its shares in the fixed price band of Rs 163-172 per share with a lot size of 87 shares. The company raised a total of Rs 492.88 crore from its IPO, which was overall subscribed a total of 30.57 times.
The allotment matrix of Western Carriers India suggests that one out of 24 retail investors will get the allotment of shares, while one out of 52 investors will go lucky in the small HNI category. The best possible scenario is for big HNI category investors, where two out of 17 investors get the allotment of shares.