Shares of five companies namely- DAM Capital Advisors, Mamata Machinery, Transrail Lighting, Sanathan Textiles and Concord Enviro- shall make their Dalal Street debut later today. All these IPOs had opened for bidding on Thursday, December 19 and concluded on Monday, December 23, cumulatively raising more than Rs 2,900 crore.
Mamata Machinery
Ahmedabad-based Mamata Machinery sold its shares in the price band of Rs 230-243 apiece. Investors could apply for a minimum of 61 shares and its multiples thereafter. The company raised a total of Rs 179.30 crore, which was entirely an offer-for-sale (OFS) of up to 73,82,340 equity shares.
The issue was overall subscribed a whopping 194.95 times, thanks to all round-bidding. Mamata Machinery's grey market premium (GMP) stood at Rs 260, suggesting a more than 107 per cent listing pop for the investors. The premium in the unofficial market has remained stable over the period.
DAM Capital Advisors
Mumbai-based DAM Capital Advisors sold its shares in the price band of Rs 260-283 apiece. Investors could apply for a minimum of 53 shares and its multiples. The company raised a total of Rs 840.25 crore via IPO, which was entirely an offer-for-sale (OFS) of up to 2,96,90,900 equity shares.
The issue was overall subscribed a strong 82.08 times, led by strong bidding from institutional bidders. DAM Capital's grey market premium (GMP) has seen some correction, standing at Rs 140-145, suggesting a listing pop of more than 51 per cent for the investors. The GMP in the unofficial market stood at Rs 170 when the issue closed for bidding.
Transrail Lighting
Mumbai-based Transrail Lighting offered its shares in the price band of Rs 410-432 apiece, for which investors could apply for a minimum of 34 shares and its multiples. It raised a total of Rs 838.91 crore via IPO route, which includes a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 1,01,60,000 equity shares.
The issue was overall subscribed a solid 80.80 times, led by strong bidding from institutional bidders. Transrail Lighting's grey market premium (GMP) has seen mild correction over the last couple of days. Its GMP dropped from Rs 175 to Rs 165 apiece, suggesting a 38 per cent listing pop for the investors.
Sanathan Textiles IPO
Silvassa-based Sanathan Textiles sold its shares in the price band of Rs 305-321 apiece. Investors could apply for a minimum of 46 shares and its multiples. It is looking to raise Rs 550 crore, which includes a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 46,72,898 equity shares worth Rs 150 crore.
The issue was overall subscribed a decent 35.12 times. Sanathan Textiles' grey market premium (GMP) has seen some mild correction since the closure of the bidding. Its GMP fell to Rs 85-87 apiece from Rs 90-93 per share, suggesting a about 28-29 per cent listing pop for the investors on debut.
Concord Enviro Systems
Concord Enviro Systems sold its shares in the price band of Rs 665-701 apiece, for which investors could apply for a minimum of 21 shares and its multiples. The Mumbai-based company raised Rs 500.33 crore through primary markets, which included a fresh share sale of Rs 175 crore and an offer-for-sale (OFS) of up to 46,40,888 equity shares.
The issue was overall subscribed 10.67 times. Concord Enviro Systems' grey market premium (GMP) has seen some improvement since the closure of the bidding. Its GMP rose to Rs 135-140 apiece from Rs 75 per share, suggesting a about 20 per cent listing pop for the investors on debut.