Dr Agarwal’s Healthcare IPO sails through on final day, H.M. Electro Mech makes decent debut; check IPO highlights

It was a tough day for primary market investors as a mainboard issue closed today with poor subscription numbers, while two new stocks of small and medium enterprises (SMEs) were listed without making any decent profit for investors. One of the stocks was listed at a 20% discount.

The mainboard issue Dr Agarwal’s Healthcare Ltd was fully subscribed on the last day of bidding, on January 31, after a muted response from investors for two days. On the other hand, the BSE SME IPO of Malpani Pipes And Fittings closed with a bumper subscription.

Dr Agarwal’s Healthcare IPO closes today with weak subscription

The ₹3,027.26-crore mainboard IPO of Dr Agarwal’s Healthcare Ltd just managed to get fully subscribed at the close of its bidding window today.

The issue was overall booked 1.55 times led by the Qualified Institutional Buyers (QIBs). The mainboard IPO was booked 4.64 times in the QIBs’ category. The NIIs booked 39% of their allocated portion, while the retail quota was booked 41%. The shareholders’ segment was booked 51% and the employees’ category was subscribed 27%.

The IPO price band was set at ₹382 to ₹402 per share. The lot size for an application was 35. The allotment of shares is expected to be finalised on February 3.

Shares of Dr Agarwal’s Healthcare are scheduled to be listed on both BSE and the National Stock Exchange of India (NSE) on February 5.

Malpani Pipes And Fittings IPO closes on a solid note

The ₹25.92-crore SME IPO of Malpani Pipes And Fittings Ltd saw solid subscription at the close of its bidding window. The IPO was booked 147.22 times.

The retail investors’ category was overbought 113.79 times, while the NIIs’ segment was booked 343.51 times. The QIBs subscribed their quota 58.49 times.

Malpani Pipes And Fitting IPO had fixed the price band at ₹85 to ₹90 per share. The minimum bid quantity to apply for the issue was 1,600 shares.

The allotment of shares is expected to be finalised on February 3 and shares are scheduled to list on the BSE SME platform on February 5.

Listing of HM Electro Mech, GB Commerce

Shares of GB Logistics Commerce shares were listed at a 20% discount on the BSE SME platform at ₹81.6 apiece against its IPO price of ₹102 per unit. The poor listing was witnessed despite the IPO getting oversubscribed by 172 times during the subscription from January 24 to January 28.

Separately, shares of another SME firm HM Electro Mech Ltd made a decent debut on the BSE SME platform, listing at an 8% premium over their issue price. HM Electro Mech shares opened at ₹81 apiece against the IPO price of ₹75 per piece. However, soon after the opening, the stock dropped 5% to hit the lower circuit limit of ₹76.95 apiece. The HM Electro Mech IPO was booked more than 93 times during the bidding period from January 24 to January 28.