IPO market highlights: Storage Tech, Amkay Products, Sai Swami Metals make strong debut; TBO Tek, TGIF Agri IPOs fully subscribed on day 1
Upstox
3 min read • Updated: May 8, 2024, 8:07 PM
Summary
Shares of Storage Technologies and Automation, Amkay Products, and Sai Swami Metals and Alloys witnessed strong gains on the day of their debut on Wednesday, May 8. On the other hand, the public issues of TBO Tek and TGIF Agribusiness witnessed healthy buying interest on the first day of subscription.
Even as market benchmarks, the SENSEX and the NIFTY, ended flat, shares of Storage Technologies and Automation, Amkay Products, and Sai Swami Metals and Alloys witnessed strong gains in their debut trade on Wednesday, May 8.
Moreover, fresh IPOs of TBO Tek and TGIF Agribusiness witnessed healthy buying interest on the first day of subscription.
The domestic market remained in a range on Wednesday. However, mid and smallcap spaces saw healthy buying after the last three days of the selloff.
The SENSEX closed at 73,466.39, down 45 points, while the NIFTU ended flat at 22,302.5.
Let's look at how the newly listed stocks performed today and also the subscription status of the initial public offerings (IPOs) that opened today.
IPOs that opened for subscription
TBO Tek IPO
The mainboard IPO opened for subscription on Wednesday, May 8, and saw healthy buying from retail and non-institutional investors. At the end of the first day, the issue was subscribed to 1.15 times, receiving a bid for 1.06 crore shares against 92.85 lakh shares offered in the issue.
The retail portion was subscribed 3.13 times. The non-institutional investors (NIIS) segment also saw a strong buying of 2.08 times. However, qualified institutional buyers (QIBs) gave a tepid response to the issue on day 1, subscribing to the issue only 0.01 times. The portion reserved for employees was subscribed 2.22 times.
To know more and apply for TBO Tek IPO, click here
Aadhar Housing Finance IPO
At the end of day 1, Aadhar Housing Finance saw an overall subscription of 0.44 times. The issue received bids for 3.04 crore shares against 7 crore shares on offer for public investors.
The retail portion was subscribed 0.41 times, slightly lower than the 0.6 times subscription seen in the non-institutional investors (NIIS) segment.
The qualified institutional buyers (QIBs) subscribed to the issue 0.33 times while the segment reserved for employees saw a healthy subscription of 2.01 times.
To know more and apply for Aadhar Housing Finance IPO, click here
TGIF Agribusiness Limited
The issue was subscribed 1.46 times, receiving bids for 9,55,200 shares against 6,52,800 offered. The retail portion was subscribed 2.05 times while the non-institutional buyers' segment saw a subscription of 0.88 times on day 1.
Three BSE SME IPOs make robust market debut
Storage Technologies and Automation
Storage Technologies and Automation shares were listed at a premium of 90% on BSE. The stock was listed at ₹148.2 apiece against its issue price of ₹78 apiece.
The stock hit a high of ₹155.59 during the session before ending at ₹153.05, up 96.22% against the issue price.
Amkay Products Limited
Shares of Amkay Products, too, made a stellar debut, listing at a 90% premium at ₹104.50 on BSE against the issue price of ₹55.
The stock rose further to the level of ₹109.72 and finally closed at ₹109.72, jumping 99.5% with respect to its issue price.
Sai Swami Metals and Alloys Limited
The stock was listed at ₹114 on BSE, a premium of 90% against its issue price of ₹60. The stock closed 99.5% higher at ₹119.70 which was also its day's high level.