It is raining IPOs at Dalal Street with as many as five mainboard issues kicking-off for bidding in next three-days, raising a total of 18,340 crore from the primary market investors. These IPOs will add to the ongoing exuberance for the primary market issues, which has already turned into a historic one for the Indian IPO market.
The ongoing buzz in the primary market has also pushed the activity in the unofficial market, where the grey market premia for these issues have remained in consistent action. After a series of lacklustre-listing, the revival in the primary market has induced action in the grey market as well.
The IPOs of Vishal Mega Mart, Sai Life Sciences and One Mobikwik Systems will open for bidding between December 11-13, while Jhunjhunwala-backed Inventurus Knowledge Solutions (IKS Health) will launch its IPO on Thursday, December 12. The IPO of International Gemmological Institute (India) will open for bidding on Friday, December 13.
The Rs 8,000 crore IPO of Vishal Mega Mart shall be sold in the range of Rs 74-78 apiece, for which investors can apply for a minimum of 190 equity shares and its multiples thereafter. The retail hypermarket chain is currently commanding a grey market premium (GMP) of Rs 25, suggesting a listing pop of 32 per cent for the investors.
Sai Life Sciences, which has fixed its price band in the range of Rs 522-549 apiece with a lot size of 27 equity shares, is commanding a GMP of Rs 30-32, suggesting 6 per cent gains for the investors. The pharma firm is looking to raise a total of Rs 3,042.62 crore via IPO which includes a fresh share sale of Rs 950 and an OFS of up to 3,81,16,934 equity shares.
Mobikwik shall be raising a total of Rs 572 crore, which is entirely a fresh share sale of up to 20,501,792 equity shares. Price band for the new-age internet player's issue has been fixed in the range of Rs 265-279 apiece with a lot size of 53 equity shares. The parent company of the fintech platform is seeking a GMP of Rs 130 apiece, suggesting a 47 per cent gain for the investors.
Jhunjhunwala-backed Inventurus Knowledge Solutions will raise about Rs 2,500 crore via IPO, offering its shares in the range of Rs 1,265-1,329. The healthcare admin solutions player's issue can be subscribed for a minimum of 11 equity shares and its multiples. The healthcare admin solutions player seeking a GMP of 350 apiece, suggesting 26 per cent gains for the investors.
International Gemmological Institute (India) shall be the last issue for this week, which will look to raise a total of Rs 4,225 crore which includes a fresh share sale of Rs 1,475 crore and OFS of up to Rs 2,750 crore by its promoter. Price band for the issue has been fixed at Rs 397-417 apiece, with a lot size of 35 equity shares and its multiples. Its GMP last stood at Rs 100, suggesting 25 per cent gains for the investors.