Dr Agarwal’s Healthcare IPO continues to receive poor demand on Day 2, CLN Energy makes muted debut

Sentiment in the primary market was muted today, on January 30, with active bidding only in two initial public offerings (IPOs). Shares of a small and medium enterprise (SME) were also listed on the stock exchange today, but only with a marginal premium.

Dr Agarwal’s Healthcare IPO struggles to find subscribers

The ₹3,027.26-crore mainboard IPO of Dr Agarwal’s Healthcare was struggling for subscription on the second day of bidding as well.

At the close of bidding on Day 2, the IPO was booked only 42%. The retail portion was subscribed 24%, while the non-institutional investors’ (NIIs) category was subscribed only 12%. However, the Qualified Institutional Buyers’ (QIBs) quota was fully subscribed.

The IPO price band has been fixed at ₹382 to ₹402 per share. The lot size for an application is 35 shares. Bidding for the issue will close on January 31. The allotment of shares is expected to be finalised on February 3. Shares of Dr Agarwal’s Healthcare Ltd are scheduled to be listed on both the BSE and the NSE on February 5.

Malpani Pipes IPO sees huge demand on Day 2

The ₹25.92-crore SME IPO of Malpani Pipes and Fittings Ltd witnessed huge demand on the second day of bidding.

On the second day of bidding, the BSE SME issue was booked nearly 34 times overall. The retail quota was subscribed over 50 times, while the NIIs’ segment was booked nearly 40 times. The QIBs booked 88% of their allocated portion.

The price band for the Malpani Pipes IPO has been at ₹85 to ₹90 per share. The minimum bid quantity to apply for the issue is 1,600 shares. The subscription window will close on January 31 and the allotment of shares is expected to be finalised on February 3. Malpani Pipes shares are scheduled to be listed on the BSE SME platform on February 4.

CLN Energy Ltd makes a poor debut

Shares of SME firm CLN Energy Ltd listed on the BSE SME platform at a premium of just 2.4% at ₹256 apiece today compared to its IPO price of ₹250 per share. However, the share price rose 5% to hit the upper circuit at ₹268.80 per share immediately after the opening of the session.

The ₹72.3-crore BSE SME IPO was subscribed 5.09 times during the three-day bidding window between January 23 and January 27.