Chamunda Electrical IPO closes with mega subscription, new launches see muted response; check key IPO updates

Primary market investors were busy with the opening of two new initial public offerings (IPOs) of small and medium enterprises (SMEs) on Thursday. Bidding was also on for three other SME issues, one of which closed for subscription today after a solid demand.

Here’s a look at all the major happenings in the IPO market on Thursday, February 6.

Muted opening for Solarium Green Energy Ltd IPO

The SME issue of Solarium Green Energy Ltd saw a muted opening today. The IPO was subscribed just 0.93 times. The retail investors’ portion was bid 0.74 times, while the non-institutional investors’ (NII) portion was bought 0.27 times. The qualified institutional buyers (QIB) quota was fully subscribed with bids for 1.96 times the shares on offer.

The IPO is a book-built issue and aims to raise a total of ₹105.04 crore. It is entirely a fresh issuance of 55 lakh shares. The price band for the IPO is set at ₹181 to ₹191 per share. The lot size for an application is 600.

Bidding for the Solarium Green Energy IPO will close on February 10. Allotment of shares is expected to be finalised on February 11. Solarium Green Energy shares are proposed to be listed on the BSE SME platform on February 13.

Readymix Construction Machinery IPO opens with slightly better demand

The SME issue of Readymix Construction Machinery Ltd also opened today with an encouraging response from investors. The SME issue was nearly fully subscribed on Day 1. The IPO was booked 96% at the end of the bidding process.

The retail investors’ portion was bid 0.89 times, while the NII segment was bought 1.3 times. The QIB quota was subscribed 0.83 times.

The Readymix Construction Machinery IPO is a book-built issue and aims to raise a total of ₹37.66 crore through a fresh issuance of 30.62 lakh shares.

The price band for the IPO is set at ₹121 to ₹123 per share. The minimum bid quantity to apply for the issue is 1,000 shares.

Bidding will close on February 10. Allotment of shares is expected to be finalized on February 11. The company's shares are scheduled to be listed on the NSE Emerge platform on February 13.

Ken Enterprises IPO Day 2

The ₹83.65-crore SME issue of Ken Enterprises Ltd saw a strong response on the second day of bidding. The IPO was oversubscribed 3.7 times at the end of the bidding process on Day 2. The retail investors’ portion was overbid 6 times, while the NII segment was fully subscribed.

The company's shares are being offered at ₹94 apiece in the IPO in a lot size of 1,200 units. Bidding for the issue will close on February 7. Allotment of shares is expected to be finalized on February 10. Ken Enterprises shares are scheduled to list on the NSE Emerge platform on February 12.

Amwill Healthcare IPO Day 2

Demand in the ₹59.98-crore SME IPO of Amwill Healthcare Ltd saw decent demand from investors on the first day of bidding. The IPO was bought 1.4 times at the end closure of the bidding window on Day 1. The retail investors’ portion was bought 1.92 times, while the NII portion was subscribed 58%. The QIB quota, meanwhile, was oversubscribed 2.2 times.

Price band for the IPO is set at ₹105 to ₹111 per share, while the lot size or minimum bid quantity to apply for the issue is 1,200 units. Bidding for the IPO will close on February 7 and the allotment of shares is expected to be finalised on February 10. Amwill Healthcare shares are scheduled to be listed on the BSE SME platform on February 12.

Chamunda Electrical IPO closes today with a mega subscription

The ₹14.6-crore SME issue of Chamunda Electrical Ltd closed today after seeing solid demand from investors. The IPO was oversubscribed 738 times led by a strong demand from non-institutional Investors (NIIs)on Day 3.

The retail investors’ portion was overbid 554 times, while the NII portion was overbought 1,943 times. The QIB quota was also oversubscribed 155 times.

Price for the IPO is set at ₹47 to ₹50 per share, with the minimum bid quantity to apply for the issue being 3,000 shares.

The allotment of shares in the IPO is expected to be finalised on February 7. Chamunda Electrical shares are scheduled to list on the NSE Emerge platform on February 11.