IPO Wrap: Apex Ecotech makes stellar debut, Nisus Finance Services IPO booked 3x on day 1 and other key events

The investors in the primary market saw yet another busy day on December 4 with the listing of two SME issues and the launch of the initial public offering of Nisus Finance Services Co Limited.

Property Share REIT IPO, the first SM REIT IPO in India, also closed for subscription on Wednesday.

Here’s a look at some of the key events that kept the primary market abuzz on Wednesday.

Apex Ecotech Listing

Apex Ecotech shares made a stellar debut on the NSE SME platform. The stock listed at ₹138.7 apiece on the NSE with a premium of 90% against the issue price of ₹73 per share. The shares gained 5% and were locked at the upper circuit limit of ₹145.6 apiece, doubling the investors’ money on the first day of trading.

Apex Ecotech IPO was worth ₹25.54 crore and consisted of a fresh issue of 34.99 lakh shares. The subscription window for the NSE SME issue was open from Wednesday, November 27 to Friday, November 29.

Abha Power and Steel Listing

Abha Power and Steel shares made a decent debut on the NSE SME platform, Emerge. The stock listed at ₹81.9 apiece on the NSE with a premium of 9.2% against the issue price of ₹75 per share. The shares declined 5% and were locked at the lower circuit limit of ₹77.8 apiece.

Abha Power and Steel IPO raised ₹38.54 crore through its public issue. The SME issue consisted of a fresh issuance of 41.39 lakh shares amounting to ₹31.04 crore and an offer for sale of 10 lakh shares aggregating to ₹7.5 crore. The bidding window for the NSE SME issue was open from November 27 to November 29.

Nisus Finance Services IPO Day 1

Nisus Finance Services Co Limited IPO opened for subscription on Wednesday, December 4 and received bids for more than 1.32 crore shares against 42.05 lakh shares offered for subscription.

The BSE SME issue was booked 3.16 times on the first day of bidding. Nisus Finance Services IPO was booked 3.75 times in the retail category and 2.22 times in the Non-Institutional Investors’ (NIIs) segment on the first day of subscription. The issue was subscribed 2.89 times in the Qualified Institutional Buyers (QIBs) category.

Nisus Finance Services IPO, worth ₹114.24 crore, consists of a fresh issuance of 56.46 lakh shares, amounting to ₹101.62 crore, and an offer-for-sale (OFS) portion of 7.01 lakh shares, aggregating to ₹12.61 crore. The price band for the SME issue has been fixed at ₹170 to ₹180 per share.

The IPO subscription window is scheduled to close on Friday, December 6. The tentative listing date for Nisus Finance Services Limited’s shares is Wednesday, December 11. Shares of the company will be listed on the BSE SME platform.

Property Share REIT IPO Day 3

Property Share REIT IPO, the first SM REIT IPO in the country, was open for bidding from December 2 to December 4. Property Share REIT IPO aims to raise ₹352.91 crore. The price band for the issue has been fixed at ₹10 lakh to ₹10.5 lakh per share.

The share allotment status of the public issue will be finalised on December 5. Shares of the trust will list on the exchanges on the BSE on December 9.

Share Allotment Status of 2 IPOs to be finalised

The share allotment status of Suraksha Diagnostic IPO and Ganesh Infraworld IPO will be finalised on December 4. Shares of the two companies are scheduled to make their D-street debut on December 6.

Upcoming IPOs in December

The initial public offering of Emerald Tyre Manufacturers Limited will open for subscription on December 5. Shares of Agarwal Toughened Glass India Limited will make their D-street debut on December 5. Shares of Suraksha Diagnostic Limited and Ganesh Infraworld Limited will make their debut on the D-street on December 6.

The SME issues of Dhanlaxmi Crop Science Limited, Jungle Camps India Limited and Purple United Sales Limited will open for subscription in the upcoming week of December.