IPO listings: 8 issues make debut, Arkade Developers shares list at 36% premium; check full list

It was a hectic day for primary market investors on Tuesday, September 24, as eight IPOs debuted on the stock exchanges. Among these were three mainboard IPOs: Northern Arc Capital Limited, Arkade Developers, and Western Carriers (India) Limited.

Out of the three mainboard issues, Northern Arc and Arkade Developers made strong debuts on stock exchanges, rewarding IPO investors with handsome returns. Western Carriers, however, saw a tepid debut on bourses. It was a mixed bag for five SME IPOs, which made their market debut on September 24.

Here is a look at all the IPO listings today:

Northern Arc Capital IPO

In terms of gains, IPO investors would have made total gains of ₹4,959 per lot of 57 shares. Compared to the minimum investment of ₹14,991 for at least a single lot size, the total value of each lot stood at ₹19,950.

At 12.48 pm, shares of Northern Arc Capital were trading at ₹317 apiece, down 9.4% from the listing price due to profit taking by investors.

Arkade Developers IPO

On the BSE, the stock listed at a premium of over 37% at ₹175.9 apiece.

As the minimum lot size for retail investors was 110 shares, at the listing price, the successful bidders in the Arkade Developers IPO would have gained ₹5,170 (₹47 x 110). The value of a single lot of shares at listing price stood at ₹19,250 against the minimum investment of ₹14,080.

At 12:48 pm, shares of Arkade Developers were trading at ₹173 apiece, down by 1.1% to the listing price.

Western Carriers India IPO

Shares opened at ₹171 per share on NSE against the issue price of ₹172 apiece. On the BSE, shares opened at ₹170, down 1.1% from the issue price.

In terms of lot size during the IPO bidding process, the stock gave negative returns of ₹87 per lot. At the listing price, the value of a single lot of 87 shares was ₹14,877 against ₹14,964 at the issue price.

At 12:48 pm, the stock was trading at ₹164, down by 4% from the listing price.

A mixed listing for SME IPOs

Popular Foundations IPO

In a muted opening, Popular Foundations Ltd shares listed flat at the issue price of ₹37 per share on the BSE SME platform. The stock later hit the lower circuit limit of ₹35.15 power share due to selling by investors. Shares of the company recovered some of early losses to trade at ₹36.5 per share, down by 1.35% from the listing price, at 12:52 pm.

Deccan Transcon Leasing Limited

The stock was down 4$ at ₹111.3 per share on the NSE at 12:53 pm.

Envirotech Systems IPO

Envirotech Systems Ltd made a stellar debut on the NSE SME platform with shares listing at a premium of 90%. Shares of the company opened at ₹106.4 per share against the issue price of ₹56 apiece, reflecting gains of 90%.

The stock rallied further 5% to hit the upper circuit at ₹111.7 per share.

Pelatro Limited IPO

The stock jumped 5% to hit the upper circuit at ₹288.75 per share later.

Osel Devices Limited IPO

The stock rallied further 5% to hit the upper circuit at ₹207.95 per share on strong investor buying.