IPO highlights: PDP Shipping IPO fully subscribed, Super Iron Foundry IPO sees weak demand

The primary markets were sluggish on Wednesday, amid a weak bidding for the two active initial public offerings (IPOs) of small and medium enterprises (SMEs). One of these issues closed today, struggling to manage full subscription.

PDP Shipping IPO fully subscribed

The ₹12.65-crore SME IPO of PDP Shipping and Projects Ltd was fully subscribed on the last day after tepid demand on the initial two days of bidding. The BSE SNE issue was booked 1.06 times. The retail portion was subscribed 1.87 times, while the Non-Institutional Investors (NIIs) quota was booked 24%.

PDP Shipping IPO price was fixed at ₹135 per share. The minimum lot size was 1,000 units. Allotment of shares is expected to be finalised on March 13. The PDP Shipping stock is scheduled to be listed on the BSE SME platform on March 18.

Super Iron Foundry IPO Day 2

Bidding in the ₹68.05-crore SME IPO of Super Iron Foundry Ltd also remained slow on the second day as well. At the end of bidding at 5 pm, the issue was booked 50%. The retail investors booked their quota 84%, while the NIIs subscribers subscribed their segment 16%.

Super Iron Foundry IPO share price has been fixed at ₹108 apiece. The minimum lot size is 1,200 units. Bidding for the issue will close on March 13. The allotment of shares is expected to be finalised on March 17. The stock is scheduled to be listed on the BSE SME platform on March 19.

IPOs launching next week

The SME IPOs of Paradeep Parivahan Ltd and Divine Hira Jewellers Ltd are scheduled to open next week.

The two SME issues will remain open for subscription from March 17 to March 19. Paradeep Parivahan shares are scheduled to be listed on the BSE SME platform on March 24, while those of Divine Hira Jewellers are going to make their debut on the NSE Emerge platform the same day.

The Paradeep Parivahan IPO is a book-built issue that aims to raise a total of ₹44.86 crore. It is entirely a fresh issuance of 45.78 lakh shares. The IPO price band has been set at ₹93 to ₹98 per share and the lot size for an application is 1,200.

The Divine Hira Jewellers IPO is a fixed-price issue of ₹31.84 crore. It is also entirely a fresh issuance of 35.38 lakh shares. Price has been fixed at ₹90 apiece and the bid size is 1,600 shares.

Upcoming mega IPOs

News reports on Wednesday indicated that National Securities Depository Ltd (NSDL) is expediting its ₹3,000-crore IPO plans and is planning to launch the issue as early as next month. This is a move to meet the ownership norms as per Sebi guidelines.

The NSDL IPO, entirely an offer for sale (OFS), will see six shareholders dilute their stakes that include National Stock Exchange of India (NSE), IDBI Bank and HDFC Bank.

Besides that, several other popular startups are expected to debut on stock exchanges in 2025, including Zepto, PhysicsWallah, BoAt, Ather Energy and Avanse Financial Services.