IPO highlights: Grand Continent Hotels makes muted debut, ATC Energies System IPO fully subscribed

Primary markets saw the opening of another new initial public offering (IPO) in the small and medium enterprise (SME) segment today. With this, investors had the option to place bid in four SME issues. Allotment details were also announced for a hugely subscribed SME issue that had closed for subscription yesterday.

Besides that, an SME firm made a weak trading debut today, with its stock listing flat on exchanges.

Here’s a look at all the major developments in the IPO market on Thursday, March 27:

Retaggio Industries IPO opens on a quiet note

Retaggio Industries' IPO opened today to poor demand. At the end of the bidding on Day 1, the BSE SME issue was overall booked only 30%. The retail portion was subscribed 52%, while the non-institutional investors (NIIs) booked their quota only 9%.

The Retaggio Industries IPO is a fixed-price issue that aims to raise ₹15.5 crore. It is made up entirely of a fresh issuance of 61.98 lakh shares. Shares in the issue are being offered at ₹25 apiece in a lot size of 6,000 units.

Bidding for the issue will close on April 2. The allotment of shares is expected to be finalised on April 3. Retaggio Industries shares are scheduled to be listed on the BSE SME platform on April 7.

Identixweb IPO Day 2

The ₹16.63-crore SME IPO of Identixweb Ltd was unable to garner investors’ interest even on the second day of bidding. The IPO was overall booked only 37%. The retail segment was subscribed 65%, while the NIIs category was booked only 21% on Day 2. The QIBs did not submit any bids.

The company has fixed the price band of the issue at ₹51 to ₹54 per share. The lot size, or the minimum bid quantity to apply for the issue, has been set at 2,000 shares.

Bidding for the issue will close on March 28. The allotment of shares is expected to be finalized on April 1. Identixweb shares are scheduled to be listed on the BSE SME platform on April 3.

ATC Energies System IPO fully subscribed on last day

The ₹63.76-crore SME IPO of ATC Energies System Ltd was fully subscribed on the third day of bidding. At the end of the bidding at 5 pm, the public offer was subscribed 1.67 times. The retail investors’ portion was overbooked by 2.49 times, while the NIIs segment was booked 96%. The QIBs quota was subscribed 1.28 times.

The price band of the IPO was fixed at ₹112 to ₹118 per share, while the lot size was 1,200 shares.

The allotment of shares is expected to be finalized on March 28. ATC Energies System shares are scheduled to be listed on the NSE Emerge platform on April 2.

Shri Ahimsa Naturals IPO sees solid demand on final bidding day

The ₹73.81-crore Shri Ahimsa Naturals IPO saw solid demand on the third and final day of bidding. The NSE SME issue was overall subscribed 62.78 times. The NIIs segment was booked 183.17 times. The retail portion of the IPO was booked 35 times, while the QIBs quota was subscribed 21.23 times.

The IPO price band was fixed at ₹113 to ₹119 per share, while the minimum bid size for an application was 1,200 shares.

The allotment of shares is expected to be finalised on March 28. Shri Ahimsa Naturals shares are scheduled to be listed on the NSE Emerge platform on April 2.

Allotment details for Desco Infratech IPO to be out today

The share allotment status of the ₹30.75-crore SME IPO of Desco Infratech Ltd should be announced by the end of the day today.

Bidders in the issue can check the allotment status online on the websites of either BSE or the IPO’s official registrar, Bigshare Services Pvt. Ltd.

The Desco Infratech IPO had closed on Wednesday with an oversubscription of 83.75 times. The shares are scheduled to be listed on the BSE SME platform on April 1.

Poor listing for Grand Continent Hotels

Shares of SME firm Grand Continent Hotels Ltd listed flat on the NSE Emerge platform today. The stock opened the trading session at ₹112.9 apiece on the NSE Emerge platform compared to its IPO price of ₹113 per share. Within minutes of the opening of the session, the share price hit the 5% lower circuit to hit the day’s low of ₹107.25.

The Grand Continent Hotels IPO, which was open for bidding from March 20 to March 24, was overall subscribed by 1.79 times during the three-day bidding window.