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IPO highlights: Super Iron Foundry opens to weak demand, NAPS Global India makes decent debut

Upstox
By Upstox News Desk

3 min read | Updated on March 11, 2025, 17:41 IST

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SUMMARY

NAPS Global India shares were listed at a premium of 20% over the issue price on the BSE SME platform. Meanwhile, Super Iron Foundry and PDP Shipping and Projects IPO saw subdued demand from investors.

₹12.65-crore SME IPO of PDP Shipping and Projects was booked 52% on Day 2. | Image: Shutterstock

₹12.65-crore SME IPO of PDP Shipping and Projects was booked 52% on Day 2. | Image: Shutterstock

Primary market investors finally had a reason to cheer on Tuesday, with a new stock of a small and medium enterprise (SME) making trading debut at a significant premium after a long period of lull in the markets. A new initial public offering (IPO) also opened for subscription today, but was unable to create any buzz among investors. Meanwhile, another SME IPO that opened yesterday was still struggling to find bidders.

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Shares of NAPS Global India were listed at a premium of 20% over the issue price on the BSE SME platform. The active SME IPOs of Super Iron Foundry Ltd and PDP Shipping and Projects Ltd saw subdued demand from investors.

Here’s a look at all the major developments in the IPO market on Tuesday, March 11:

Super Iron Foundry IPO opens to poor demand

The SME IPO of Super Iron Foundry Ltd opened today on a sombre note. At the end of bidding at 5 pm on Day 1, the issue was subscribed just 36%. The retail investors’ quota was booked 58%, while the Non-Institutional Investors’ (NII) segment was bought just 13%.

The IPO is a fixed-price issue aimed at raising a total of ₹68.05 crore. It is entirely a fresh issuance of 63.01 lakh shares.

Shares are being offered at ₹108 apiece in a lot size of 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.

PDP Shipping and Projects IPO Day 2

The ₹12.65-crore SME IPO of PDP Shipping and Projects Ltd struggled to attract investors’ attention on the second day of bidding as well. At the end of the second day of subscription, the issue was overall booked 52%. The retail quota was booked 88%, while the NIIs portion was booked 16%.

Shares in the PDP Shipping IPO have been priced at ₹135 apiece. The minimum lot size for the retail investors is 1,000 units.

Bidding will close on March 12 and the allotment of shares is expected to be finalised on March 13. The PDP Shipping and Projects stock is scheduled to be listed on the BSE SME platform on March 18.

NAPS Global India listing

Shares of NAPS Global India made a strong trading debut today, with the stock listing at a premium of 20% on the BSE SME platform.

The share price opened at ₹108 per piece compared to the issue price of ₹90 apiece. However, soon after listing, the stock declined as much as 5% to hit the lower circuit limit at ₹102.6 apiece.

The ₹11.88-crore SME IPO of NAPS Global India Ltd was subscribed 1.24 times when it was open for subscription from March 4 to March 6.

To know more about IPOs listing, schedule and upcoming IPOs, click here.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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