IPO Wrap, May 28: Leela Hotels and Aegis Vopak Terminals' issues conclude; Scoda Tubes sees good demand, Prostarm subscribed 12.65x

The initial public offering (IPO) street on Wednesday, May 28, witnessed an optimistic sentiment. The mainboard IPO of Leela Hotels and Aegis Vopak Terminals was fully subscribed on the last day of the issue.

The ₹168-crore initial share sale of integrated power solution company Prostarm Info Systems received 12.65 times subscription on day two of the bidding on Wednesday.

Meanwhile, the initial public offering of Scoda Tubes got subscribed to 2.06 times on the first day of the share sale.

According to exchange data, the initial share sale received bids for 20,96,73,37 shares against 4,66,10,169 shares on offer.

At the close of bidding on Day 3, the IPO was booked 4.5 times. The retail portion was subscribed to 0.83 times, while the non-institutional investors’ (NIIs) category was subscribed to only 1.02 times. The Qualified Institutional Buyers’ (QIBs) quota was booked 7.46 times.

Leela Hotels IPO is a combination of a fresh issue and an offer for sale comprising a fresh issue of 5.7 crore shares and an offer for sale of 2.2 crore shares. The company has set the price band at ₹413 to ₹435 per share for the IPO. The lot size for a single application is 34 shares, and the minimum investment is ₹14,790.

Ahead of its IPO, Leela Hotels, which operates luxury hotels and resorts, mobilised ₹1,575 crore from anchor investors.

Aegis Vopak Terminals is one of India’s largest third-party owners and operators of tank storage terminals for LPG and liquid products.

According to exchange data, the initial share sale received bids for 14,43,72,816 shares out of 6,90,58,296 shares on offer.

Aegis Vopak Terminals IPO is a completely fresh issue of over 11.9 crore shares, worth ₹2,800 crore. The issue will close for subscription on May 28. The company has fixed the price band at ₹223 to ₹235 per share. The minimum lot size is 63, requiring a minimum investment of ₹14,805 by retail investors.

Ahead of its IPO launch, Aegis Vopak Terminals raised ₹1,260 crore from anchor investors. A total of 5.36 crore shares were allocated to anchor investors at ₹235 per share.

The initial share sale received bids for 14,16,94,842 shares as against 1,12,00,000 shares on offer, according to exchange data.

The non-institutional investors (NII) category saw the highest response, with 27.23 times subscription, till 5 PM on Wednesday.

The retail portion was booked 13.04 times, while qualified institutional buyers subscribed 1.03 times at the end of the second day.

Prostarm Info Systems plans to raise ₹168 crore through a public issue. The IPO will remain open for subscription till May 29. The company has fixed the price band of the issue at ₹95 to ₹105 per share. The lot size, or the minimum bid quantity to apply for the issue, is 142 shares.

It has received bids for 2,43,53,100 shares as against 1,18,46,169 shares on offer, as per the data on stock exchanges till 5 PM.

The qualified institutional buyers (QIBs) subscribed to their category 1.40 times with bids for 47,38,700 shares against the allocation of 33,84,569 shares. The retail quota was booked 2.09 times, as they applied for 1,23,52,900 shares compared to 59,23,100 shares set aside for them.

The non-institutional investors placed bids for 72,61,500 shares against 25,38,500 shares reserved for the category, leading to 2.86 times subscription.

Scoda Tubes' ₹220 crore IPO is entirely a fresh issuance of 1.57 crore equity shares, with no offer for sale (OFS) component. Proceeds will be used to expand the production capacity, working capital needs and corporate general purposes.

The issue, with a price range of ₹130-₹140 per share, will conclude on May 30.