On July 15, all four IPOs – Sati Poly Plast, Prizor Viztech, Aelea Commodities, and Three M Paper Boards – remained in the forefront and were in high demand from investors on their second day of subscription. Of these, Sati Poly Plast led the pack at 129.20 times. The investors offered 12.35 crore equity shares against an offer of 9.56 lakh shares.
Sati Poly Plast Leads with Overwhelming Demand
The retail investors subscribed to 224.2 times their portion of the quota, while non-institutional investors and HNIs subscribed to 127.8 times the reserved portion. However, the turnout of qualified institutional investors has been lukewarm, as only 6,000 equity shares have been purchased against 2,53,500 reserved for them. Bihar-based packaging materials company is eyeing raising INR 17.36 crore, and the issue price of the share is fixed at INR 123-130 each.
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Prizor Viztech Sees Strong Interest
Security and surveillance solutions company based in Ahmedabad, Prizor Viztech, ranked at the second position in terms of subscription numbers; its INR 25.15-crore IPO got subscribed 54.77 times as investors bid for 11.37 crore equity shares against an issue size of 20.76 lakh shares. It was subscribed 93.6 times to the retail portion, 56.6 times to HNIs, and 1.95 times to QIIs.
Prizor provides product solutions across CCTV cameras, LED televisions, monitors, and touch panels. The company intends to use the IPO money to set up a display centre and inventory storage in Ahmedabad for work capital requirements and general corporate purposes.
Aelea Commodities Gains Investor Confidence
On the second day, the IPO of Aelea Commodities reached a subscription of 29.01 times. Retail investors subscribed 43.94 times to the reserved portion, HNIs 31.82 times, while QIIs subscribed barely 0.01 times to their portion. It is a Mumbai-based company that trades in agricultural products like cashews, sugar, pulses, and rice.
It aims to mop up INR 51 crore through its maiden public issue with a price band fixed at INR 91-95 per share. This robust response from the retail and HNI shows confidence in Aelea’s market positioning and growth potential.
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Three M Paper Boards Sees Substantial Bidding
The same could be said of the one for Three M Paper Boards, which was subscribed 32.68 times on day two. Bids had come in for 13.49 crore shares on an offer size of just 41.3 lakh shares. Retail investors subscribed 55.11 times, while HNIs and QIIs subscribed 26.14 and 0.01 times, respectively. The company is an innovation-led manufacturer of paper-based duplex board products and is one of the leading suppliers of quality packaging material.
The company hoped to raise around INR 39.83 crore by offering its shares in the INR 67-69 price band. The robust subscription in the initial public offering reflects reasonable investor confidence in the company’s sustainable business model and growth prospects.
Tunwal E-Motors Fully Subscribed on First Day
The IPO of electric vehicle manufacturer Tunwal E-Motors was fully subscribed on its first day of bidding, July 15. Investors bought 3.62 crore equity shares, 1.85 times the IPO size of 1.96 crore shares. The Pune-based two-wheeler maker will mop up money worth INR 115.64 crore through the public issue by selling its shares at a fixed price of INR 59 apiece. This includes a fresh issue of INR 81.72 crore and an offer-for-sale of shares worth INR 33.93 crore. The fixed-price issue would close on July 18. Robust subscription shows interest in the electric vehicle sector is rising.
About the Author
Akshita Siddhapura is a Business Analytics student at SCMS-B, passionate about finance and research. She has a keen interest in financial analysis and strategic growth, showing a strong commitment to business and finance.
