IPO Wrap on December 5: Emerald Tyre Manufacturers IPO day 1, Agarwal Toughened Glass shares listing and other key events

Companies have raised more than ₹1 lakh crore through initial public offers in 2024 so far. As the year reaches its end, the momentum seen in the primary market is not slowing down. Shares of six companies have already made their D-street debut in December so far with many more likely to be listed later this month.

The bidding for two SME issues and the listing of Agarwal Toughened Glass took place on Thursday, December 5. Here’s a look at some of the key events that kept primary markets abuzz on Thursday:

Agarwal Toughened Glass India Listing

Agarwal Toughened Glass India shares made a strong debut on the NSE SME platform. The stock was listed at ₹135 apiece on the NSE with a premium of 25% against the issue price of ₹108 per share. Agarwal Toughened Glass India shares gained 5% and were locked at the upper circuit limit of ₹141.75 apiece.

The IPO was worth ₹62.64 crore and consisted of a fresh issue of 58 lakh shares. The subscription window for the NSE SME issue was open from Thursday, November 28, to Monday, December 2.

Emerald Tyre Manufacturers IPO Day 1

Emerald Tyre Manufacturers IPO opened for subscription on Thursday, December 5. The NSE SME issue received bids for more than 14.7 crore shares against 34.21 lakh shares offered for subscription. The issue was booked 43 times on the first day of bidding.

The IPO was booked 67.36 times in the retail category and 42.69 times in the Non-Institutional Investors (NIIs) category. The issue was subscribed 52% in the Qualified Institutional Buyers (QIBs) category.

The IPO is worth ₹49.26 crore and consists of a fresh issuance of 49.86 lakh shares and an offer-for-sale of 1.99 lakh shares. The price band for the public issue has been fixed at ₹90 to ₹95 per share. Retail investors can apply for the issue by placing bids for a minimum of 1,200 shares which aggregates to an investment of ₹1,14,000.

The subscription window for the Emerald Tyre Manufacturers IPO is scheduled to close on Monday, December 9. The tentative listing date for Emerald Tyre Manufacturers shares is Thursday, December 12. Shares of the tyre maker will be listed on the NSE SME platform, Emerge.

Nisus Finance Services IPO Day 2

Nisus Finance Services IPO was subscribed 20.35 times on the second day of bidding. The IPO was booked 29 times in the retail category and 23.26 times in the NII category on the second day of bidding. The issue was subscribed 3.4 times in the QIB category on Friday. Employees of the company booked the issue 73%.

The company aims to raise ₹114.24 crore and consists of a fresh issuance of 56.46 lakh shares amounting to ₹101.62 crore and an offer for sale of 7.01 lakh shares aggregating to ₹12.61 crore. The BSE SME issue’s share allotment status is likely to be finalised on Monday, December 9. The tentative listing date for Nisus Finance Services shares is Wednesday, December 1. Shares of the company will be listed on the BSE SME platform.

Upcoming IPOs Next Week

The public issues of Dhanlaxmi Crop Science Ltd, Toss The Coin Limited, Jungle Camps India Limited, Vishal Mega Mart Limited and Purple United Sales Limited will open for subscription in the second week of December.

Shares of Nisus Finance Services Co Limited and Emerald Tyre Manufacturers Limited will list on the exchanges on December 11 and December 12, respectively.