The ₹414-crore IPO of Steamhouse India was subscribed 30.49 times on the final day of bidding. It mobilised bids for 1,147.49 crore shares against 3.76 crore shares on offer.
Kanohar Electricals initial share sale was subscribed 90.59 times, with bids for 1,05,92,88,506 shares against 1,16,93,326 shares on offer. | Image: Shutterstock
The primary market witnessed a busy week ending September 11 with main-board initial public offerings (IPO), which included firms like Rentomojo, Karamtara Engineering, Kanohar Electricals and others opening for subscription.
The companies that tapped the primary market included real estate developers, engineering and manufacturing firms, a payments and identity solutions provider, a specialty chemicals manufacturer and an online rental platform. According to a PTI report, together the firms aimed to raise ₹7,055 crore via IPO.
Here are all the IPO updates from this week
Pranav Constructions: The initial public offering was subscribed a whopping 121 times. It secured bids for 2,71,80,46,080 shares compared to 2,24,63,137 shares on offer. The ₹351.03 crore initial share sale was a fresh issue worth ₹315.60 crore and an offer for sale (OFS) of ₹35.43 crore by investor BioUrja India Infra.
Prasol Chemicals: The IPO of the speciality chemicals firm garnered a total of 3.3 times of subscription at the end of the third day. It received bids for 1,79,62,648 shares as compared to 54,43,229 shares on offer. The ₹500 crore IPO includes an offer for sale and a fresh issue.
Kanohar Electricals: The initial share sale was subscribed 90.59 times, with bids for 1,05,92,88,506 shares against 1,16,93,326 shares on offer, according to the NSE data. The transformer manufacturer's IPO sought to raise ₹1,055.74 crore through a fresh issuance of ₹300 crore and an OFS of ₹755.74 crore by promoter K Sons Family Trust.
The ₹427.89 crore initial share sale was a mix of a fresh issuance of ₹60 crore and an OFS component of ₹367.89 crore by promoters Jawahar Hariram Hemrajani and Eshan Jawahar Hemrajani and investor India Business Excellence Fund IIA.
Karamtara Engineering: The IPO continued to see strong demand on its third day of subscription and ended with a total booking of 62.63 times. The initial share sale received bids for 159.18 crore shares as compared to 2.54 crore shares on offer.
The ₹875 crore IPO comprises a fresh issue of shares worth ₹675 crore and an OFS component of up to ₹200 crore by promoters Rajiv Singh and Tanveer Singh.
Rentomojo: The online furniture and appliance rental platform’s IPO garnered a total subscribed of 72.88 times on the last day of bidding. The company's initial share sale received bids for 1,58,68,10,712 shares against 2,17,72,311 shares on offer.
The ₹1,255.57 crore IPO, with a price band of ₹384 to ₹404 per share, comprises a fresh issue worth ₹150 crore and an OFS of 2.74 crore equity shares worth ₹1,105.57 crore by promoters and investors.
LCC Projects: The company ended with a total booking of 48.51 times on Friday, September 11. The initial share sale received bids for 101.52 crore shares approximately as compared to 2.09 crore shares on offer.
Asset Reconstruction Company (India): The issue received 20.10 times subscription by the end of third day of the share sale. The IPO received bids for 74,19,74,594 shares against 3,69,12,363 shares on offer.
It had fixed a price band of ₹132 to ₹139 per share for its ₹732.97 crore IPO. The issue comprised only an OFS of 5.27 crore shares by promoters Avenue India Resurgence and State Bank of India and investors Lathe Investment and Federal Bank.
Steamhouse India: The ₹414-crore IPO was subscribed 30.49 times on the final day of bidding. It mobilised bids for 1,14,74,91,730 shares against 3,76,36,363 shares on offer.
The initial share sale included a fresh issue of shares aggregating up to ₹353 crore and an OFS portion totalling ₹61 crore by promoter Vishal Sanwarraprasad Budhia.
Manipal Payment and Identity Solutions: The IPO ended with a total subscription of 1.42x and had received bids for 1,85,12,604 shares as compared to 1,30,60,472 shares on offer.
The IPO is a book-building issue, comprising an offer for sale of 1.43 crore shares worth ₹485 crore and a fresh issue of ₹320 crore.
Veegaland Developers: The real estate developer has been subscribed 1.15% till its second day of bidding on Friday, September 11. It received bids for 1,30,51,967 shares against 1,13,07,692 shares on offer.
The ₹210 crore initial share sale comprises a fresh issuance of up to 1.50 crore shares, with no offer for sale component. The fresh issue proceeds will be used to fund a part of the expense incurred in the development of ongoing projects, unidentified acquisition of land and general corporate purposes.
Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.
