IPO highlights: Quality Power makes muted debut, Swasth Foodtech, HP Telecom India fully subscribed on final day

Primary market investors were struggling to keep their spirits high as two new stock listings on Monday, February 24, failed to meet expectations. In addition to the three active issues, an initial public offering (IPO) of a small and medium enterprise (SME) also opened today.

Shares of Quality Power Electrical Equipments Ltd made a muted trading debut on the NSE and BSE on Monday. The BSE SME issue of Nukleus Office Solutions Ltd opened to weak demand.

Nukleus Office Solutions IPO opens on a dull note

Nukleus Office Solutions Ltd IPO opened for subscription today on a dull note. The IPO was booked only 41% at the end of bidding at 5 pm.

The BSE SME issue was subscribed 61% in the retail category. The Non-Institutional Investors (NIIs) subscribed only 21% of their allocated quota.

Nukleus Office Solutions IPO is a fixed-price issue aimed at raising ₹31.7 crore. The issue is entirely a fresh issuance of 13.55 lakh shares. Shares are being offered at ₹234 apiece in a lot size of 600 units. Bidding for the issue closes on February 27. The allotment of shares is expected on February 28.

Nukleus Office Solutions shares are scheduled to be listed on the BSE SME platform on March 4.

Beezaasan Explotech IPO day 2

The ₹59.93-crore SME IPO of Beezaasan Explotech Ltd was yet to be fully subscribed on the second day of bidding.

The BSE SME issue was booked 91% on the first day. The retail portion of the IPO was subscribed 71%, while the NIIs segment was subscribed 53%. The Qualified Institutional Buyers (QIBs) subscribed their quota 1.56 times.

The IPO price band has been set at ₹165 to ₹175 per share, and the minimum bid size is 800 shares. The bidding for the issue will close on February 25. The allotment of shares is expected to be finalised on February 27. The Beezaasan Explotech stock is scheduled to be listed on the BSE SME platform on March 3.

Swasth Foodtech IPO closes with strong demand

The ₹14.92-crore SME IPO of Swasth Foodtech India Ltd saw good demand on the last day of bidding. The IPO was booked 78 times on the last day.

The retail investors’ category was overbooked around 13 times, while the NIIs segment was booked 2.5 times.

Shares in the IPO are being offered at a price of ₹94 apiece in a lot size of 1,200 units. Allotment of shares is expected to be finalised on February 25. Swasth Foodtech IPO shares are scheduled to be listed on the BSE SME platform on February 28.

HP Telecom IPO closes with decent subscription

Bidding in the ₹34.23-crore SME IPO of HP Telecom India Ltd picked up pace on the third day of bidding.

The home appliances distributor's IPO was booked 1.96 times. The retail portion of the NSE SME issue was subscribed 1.85 times, while the NIIs category was overbought 2.07 times.

Shares in the IPO are being offered at a price of ₹108 apiece in a lot size of 1,200 units. The IPO allotment status is expected on February 25. HP Telecom India shares are scheduled to be listed on the NSE Emerge platform on February 28.

New listings

Shares of Quality Power Electrical Equipments Ltd made a flat debut on stock exchanges today, with the listing at ₹430 apiece on the NSE. This marked a marginal premium of 1.18% over the IPO price of ₹425 per share. The ₹859-crore mainboard IPO, which was open for bidding from February 14 to February 18, was subscribed just 1.29 times.

Shares of SME firm Tejas Cargo India Ltd also made a lacklustre debut on the NSE Emerge platform today, with its shares listing at a premium of just 4%. The stock opened at ₹175 apiece on NSE, up 4.17% from its issue price of ₹168 per piece. The ₹105.84-crore Tejas Cargo India IPO, which was open from February 14 to February 18, was subscribed 1.22 times.

Royalarc Electrodes Ltd also made a muted debut on Monday, with its shares listing flat on the NSE SME platform. The shares opened at ₹120 apiece, the same as its IPO price. The welding products maker launched its IPO from February 14 to February 18 to raise ₹36 crore from public investors.