Beezaasan Explotech IPO booked 5x on Day 3, SME issue of Shreenath Paper Products opens to weak demand; check IPO highlights

The primary markets continued to see a lacklustre day on Tuesday, February 25, with another new initial public offering (IPO) opening for subscription amid subdued demand from investors. Bidding was on in a total of three IPOs – all belonging to the SME (small and medium enterprise) category.

Investors also waited for allotment of shares in two other public issues that had closed for bidding on Monday.

The BSE SME issue of Shreenath Paper Products Ltd opened to weak demand on Tuesday. On the other hand, Beezaasan Explotech IPO closed with an overall subscription of more than 5 times.

Here’s a look at the major developments in the IPO market on Tuesday, February 25:

Shreenath Paper Products IPO opens with poor demand

The SME IPO of Shreenath Paper Products Ltd opened for subscription to poor demand.

At the end of the bidding at 5 pm on Day 1, the IPO was booked only 15%. The retail portion of the issue was booked 28%, while the Non-Institutional Investors (NIIs) subscribed only 2% of their quota.

Shreenath Paper Products IPO is a fixed-price issue that aims to raise a total of ₹23.36 crore. The issue is made up entirely of a fresh issuance of 53.10 lakh shares. Shares are being offered at ₹44 apiece in a lot size of 3,000 units.

Bidding for the issue closes on February 28. The allotment of shares is expected on March 3. Shares of the company are scheduled to be listed on the BSE SME platform on March 5.

Nukleus Office Solutions IPO Day 2

Bidding for the ₹31.7-crore SME IPO of Nukleus Office Solutions Ltd was slow on the second day as well. At the end of bidding on the second day, the IPO was booked 67%. The NIIs booked their quota 29%, while the retail portion was booked 95%.

Shares in the IPO are being offered at ₹234 apiece in a lot size of 600 units. Bidding for the issue closes on February 27. The allotment of shares is expected on February 28.

Nukleus Office Solutions shares are scheduled to be listed on the BSE SME platform on March 4.

Beezaasan Explotech IPO booked 5 times on last day

The ₹59.93-crore SME IPO of Beezaasan Explotech Ltd closed today for bidding with a decent subscription. The IPO was booked 5.5 times.

The retail portion of the IPO was booked 2.26 times, while the NIIs segment was subscribed 5 times. The Qualified Institutional Buyers (QIBs) subscribed their quota 11.52 times.

The price band for the IPO was ₹165 to ₹175 per share and the minimum bid size was 800 shares. Allotment of shares is expected to be finalized on February 27. The Beezaasan Explotech stock is scheduled to be listed on the BSE SME platform on March 3.

Investors await allotment status in two IPOs

Allotment in the ₹14.92-crore SME IPO of Swasth Foodtech India Ltd is expected to be announced by the company. Investors can check the status on the official websites of the BSE and the IPO’s registrar, Mas Services Ltd. The BSE SME issue, which was open for bidding from February 20 to February 24, was booked 7.83 times.

The ₹34.23-crore SME IPO of HP Telecom India Ltd will also announce the allotment status today. Investors can check the share allotment details online either on the National Stock Exchange of India (NSE) website or on the portal of the issue’s registrar, Bigshare Services Pvt Ltd. The NSE SME issue closed with an overall subscription of nearly 2 times.