IPO wrap, June 27: HDB Financial IPO booked over 16x on last day; Indogulf issue sees 93% subscription on day 2

The primary market witnessed one of the busiest weeks of the year, ending Friday, June 27.

The initial public offerings (IPOs) of HDB Financial Services, Sambhv Steel Tubes, Suntech Infra and Rama Telecom concluded on Friday.

On Friday, June 27, the issue secured 2,17,68,60,98 bids against 13,04,42,855 shares on offer, NSE data until 5 pm showed.

According to NSE data, the portion reserved for the non-institutional investors (NIIs) category was subscribed to 9.99 times, while the retail individual investors (RIIs) category was booked 1.41 times.

The portion reserved for qualified institutional buyers, or QIBs, saw the highest response with a subscription of 55.47 times on Friday.

According to NSE data, the portion reserved for the non-institutional investors (NIIs) category was subscribed 31.82 times, while the retail individual investors (RIIs) category was booked 7.99 times. The portion reserved for qualified institutional buyers, or QIBs, saw a subscription of 62.32 times.

Investors are expected to be updated about the allotment status on Monday, June 30, 2025, while the shares will be listed on the NSE and the BSE on Wednesday, July 2, 2025.

The portion reserved for the non-institutional investors (NIIs) category was booked 0.85 times, while the retail individual investors (RIIs) category was subscribed 1.54 times. The portion reserved for qualified institutional buyers, or QIBs, saw a subscription of 0.05 times.

The total issue size is ₹200 crore, and the price band is ₹105 to ₹111 per share, with a lot consisting of 135 shares.

Money raised to the tune of ₹65 crore will be utilised for the working capital needs of Indogulf—₹34.12 crore for repayment of debt clearance, ₹14 crore for capital expenditure purposes, and a portion for corporate general purposes.

The initial public offering (IPO) of Rama Telecom ended the third day with decent demand from the investors.

Till 5 pm, the IPO received 12.41 times the subscription on Friday, garnering bids for 4,585,784 shares as against the 3,696,000 shares on offer, according to data on the NSE website.

The IPO, priced in the range of ₹65-68 per equity share, will remain open until June 27. At the upper end of the price band, Rama Telecom will fetch about ₹25.13 crore from the issue.

On the second day, the SME issue of Moving Media Entertainment was fully subscribed by 1.42 times until 5 PM. It received 6,812,000 bids against 4,790,000 reserved shares.

Moving Media Entertainment plans to raise ₹43.4 crore through its SME IPO. The company has fixed the price band of the issue at ₹66 to ₹70 per share. The lot size, or the minimum bid quantity to apply for the issue, is 2000 shares.

PRO FX Tech to raise ₹40.3 crore through this SME IPO. The company has fixed the price band of the issue at ₹82 to ₹87 per share. The lot size, or the minimum bid quantity to apply for the issue, is 1,600 shares.

On the second day, the SME issue saw a decent demand and garnered bookings of 1.37 times until 5 PM. It received 4,529,600 bids against 3,315,200 reserved shares on Friday.