IPO highlights: Denta Water shares list at 10.5% premium, Dr Agarwal’s Healthcare IPO sees muted response

It was a busy day for primary market investors on January 29 with the opening of two new initial public offerings (IPOs). The investors also kept a close on the listings of a mainboard IPO and an NSE SME issue.

The strong listing of Denta Water and Infra Solutions shares on Wednesday supported investor sentiment. On the other hand, Rexpro Enterprises made a muted debut on the NSE Emerge platform. The investors also awaited shares allotment status in two BSE SME issues.

Denta Water makes a tepid debut

Denta Water and Infra Solutions shares listed at nearly 11% premium on the NSE at ₹325 per share compared to its IPO price of ₹294 apiece. The ₹220.5-crore mainboard issue was oversubscribed 221.5 times during its three-day bidding period between January 22 and January 24.

Rexpro Enterprises made a weak debut on the NSE SME platform, Emerge, with its shares listing at ₹117 apiece against the issue price of ₹145 per unit. Soon after listing, the stock was locked in the 5% lower circuit of ₹111.15 apiece. The ₹53.65-crore IPO was open from January 22 to January 24. The public offer was subscribed more than 17 times.

Muted opening for Dr Agarwal’s Healthcare IPO

The mainboard IPO of Dr Agarwal’s Healthcare Ltd opened today without much buzz among investors. The IPO was booked only 7% on the first day of bidding. The ₹3,027.26-crore public offer of the healthcare services provider was subscribed 11% in the retail segment and 6% in the Non-Institutional Investors’ (NIIs) category. The Qualified Institutional Buyers (QIBs) applied only for 18,375 shares.

The IPO is a combination of fresh issuance of 75 lakh shares, aggregating to ₹300 crore, and an offer-for-sale (OFS) of 6.78 crore shares, aimed at raising ₹2,727.26 crore.

The IPO price band has been set 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. Dr Agarwal’s Healthcare shares are scheduled to be listed on the BSE and NSE on February 5.

Malpani Pipes and Fittings IPO booked nearly 8 times on day 1

The SME IPO of Malpani Pipes and Fittings Ltd also opened today to huge demand. The BSE SME issue was overall booked nearly 8 times. The retail portion of the IPO was subscribed more than 12 times, while the NIIs quota was booked over 8 times. The QIBs booked only 2% of their allocated portion.

Malpani Pipes IPO is a book-built issue aimed at raising ₹25.92 crore. It is entirely a fresh issuance of 28.8 lakh shares. The price band for the issue has been set at ₹85 to ₹90 per share. The minimum bid quantity to apply for the issue is a single lot size of 1,600 shares.

Bidding 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 5.

Allotment awaited in two SME IPOs

The investors also waited for the share allotment status in the ₹27.74-crore IPO of HM Electro Mech Ltd and ₹25.07-crore IPO of GB Logistics Commerce Ltd, on Wednesday. Both the stocks are scheduled to be listed on the BSE SME platform on January 31.

For HM Electro Mech, investors can check the status online on the websites of BSE and the issue registrar Cameo Corporate Services. GB Logistics IPO investors can also check the share allotment status on the websites of BSE and Maashitla Securities Pvt. Ltd, the registrar for the IPO.