IPO wrap: Laxmi Dental IPO booked over 113 times; Kabra Jewels and Rikhav Securities open to strong demand

On Wednesday, January 15, the primary market investors had an action-packed day. Two new SME issues witnessed strong demand on the first day of bidding, and one mainboard initial public offering (IPO) closed with a bumper subscription.

The mainboard IPO of Laxmi Dental Ltd was booked nearly 114 times on the last day. The SME issues of Kabra Jewels Ltd and Rikhav Securities Ltd were fully subscribed within hours of launch.

Kabra Jewels Ltd IPO Day 1

The SME IPO of Kabra Jewels Ltd saw tremendous response on the opening day itself. At the end of bidding at 5pm, the NSE SME issue was subscribed over 12 times.

The retail portion was overbought more than 11 times, while the Non-Institutional Investors’ (NIIs) category was overbought 9.5 times.

The Kabra Jewels IPO is a book-building issue of ₹40 crore. It is entirely a fresh issuance of 31.25 lakh shares. The price band for the IPO has been set at ₹121 to ₹128 per share. The minimum bid quantity for an application by the retail investors is a single lot size of 1,000 shares.

Bidding for the Kabra Jewels IPO will close on January 17. The IPO share allotment is expected to be finalised on January 20. Kabra Jewels shares are scheduled to be listed on the NSE Emerge platform on January 22.

Rikhav Securities IPO Day 1

Rikhav Securities IPO also saw decent demand on the first day of bidding. The BSE SME IPO was oversubscribed more than 8 times at the close of bidding on the first day on January 15.

The retail investors’ segment was overbought by nearly 14 times, while the NIIs category was overbid by 7.5 times.

The initial public offering of the financial services provider is a book-built issue of ₹88.82 crore. It is a combination of a fresh issuance of 83.28 lakh shares, aggregating to ₹71.62 crore, and an offer-for-sale (OFS) of 20 lakh shares, worth up to ₹17.2 crore. The IPO price band has been fixed at ₹82 to ₹86 per share. The retail investors can apply for at least a single lot size of 1,600 shares.

Bidding for the IPO will close on January 17. The company is expected to decide on the share allotment on January 20. Rikhav Securities shares are scheduled to be listed on the BSE SME platform on January 22.

Laxmi Dental Ltd IPO closes today

The Laxmi Dental IPO closed on a high note. On the last day of bidding, the IPO was booked 113.97 times with applications for more than 102.17 crore shares against 89.7 lakh shares on offer. The retail quota was booked 74.12 times, while the NIIs’ category was subscribed 147.47 times. The Qualified Institutional Buyers (QIBs) booked their reserved portion 110.38 times.

The ₹698.06-crore mainboard IPO opened for subscription on January 13. The IPO price band was set at ₹407 to ₹428 per share and the lot size was 33 shares for the retail investors. Shares of Laxmi Dental Ltd are scheduled to be listed on the BSE and NSE on January 20.

Barflex Polyfilms IPO closes today after 4-day bidding

Barflex Polyfilms IPO also closed with a bang today after witnessing solid subscription across investor categories.

The NSE SME issue was oversubscribed 151.59 times. The retail investors’ segment was overbid by 98.48 times, while the NIIs booked their quota 373.48 times. The QIBs category was booked almost 78.22 times.

The price band for the ₹39.42-crore Barflex Polyfilms IPO was fixed at ₹57 to ₹60 per share. The minimum lot size for the retail investors was 2,000 shares.

The stock is scheduled to list on the NSE Emerge platform on January 20.

Sat Kartar Shopping IPO allotment

Sat Kartar Shopping Ltd, an Ayurvedic and wellness products seller, is expected to finalise the share allotment status for its IPO today. Investors can check the allotment status on the IPO registrar's website, Skyline Financial Services Pvt. Ltd, or the NSE portal. The company’s ₹33.8-crore IPO closed successfully on Tuesday, January 14, with an overall subscription of more than 332 times.