IPO wrap: Rikhav Securities, Kabra Jewels list at 90% premium, Denta Water IPO booked 17 times

Primary markets had an eventful day today, with two new stocks successfully listed on the exchanges and strong demand for one mainboard IPO.

The mainboard issue of Denta Water and Infra Solutions Ltd and the SME IPO of Rexpro Enterprises Ltd witnessed a positive response across investor categories on Wednesday, January 22, the first day of bidding. The BSE SME issue of CapitalNumbers Infotech Ltd also closed with a huge demand.

Listing of Rikhav Securities and Kabra Jewels

Shares of Rikhav Securities Ltd made a spectacular trading debut on the BSE SME platform, with the share price doubling on the listing day. The stock opened the session at ₹163.4, up 90% compared to the IPO price of ₹86 per share. Within minutes, the share price rose another 5% to hit the upper circuit limit of ₹171.57 apiece, doubling the IPO investors’ money. The ₹88.82-crore SME IPO was booked almost 307 times when it was open for subscription from January 15 to January 17.

Shares of the Ahmedabad-based jewellery retailer Kabra Jewels Ltd also listed at a 90% premium on the NSE Emerge platform at ₹243.2 per share compared to the issue price of ₹128 apiece. Later, the stock hit the 5% upper circuit to trade at ₹255.35. The ₹40-crore NSE SME issue was subscribed almost 33 times during the January 15-January 17 subscription period.

Denta Water and Infra Solutions IPO opens to huge demand

The mainboard IPO of Denta Water and Infra Solutions Ltd opened with a bang today. On the first day of bidding, the mainboard issue was booked 17.02 times overall. The retail portion of the IPO was subscribed 17.58 times, while the Non-Institutional Investors (NIIs) segment was booked 36.19 times. The Qualified Institutional Buyers (QIBs) quota was subscribed 1.67 times.

The Denta Water IPO is a book-built issue aimed at raising a total of ₹220.5 crore. It is entirely a fresh issuance of 75 lakh shares. The IPO price band has been set at ₹279 to ₹294 per unit, while the lot size is 50 shares for retail bidders.

The IPO subscription closes on January 24. The allotment of shares is expected to be finalised on January 27. The stock is scheduled to be listed on both the BSE and NSE on January 29.

Rexpro Enterprises IPO Day 1

The SME IPO of Rexpro Enterprises Ltd was also fully subscribed within a few hours of launch. At the end of bidding at 5pm, the NSE SME issue was overall booked nearly 3 times. The retail category was subscribed nearly 5 times, while the NIIs booked only 80% of their quota.

Rexpro Enterprises IPO is a fixed price issue worth ₹53.65 crore. It is a combination of fresh issuance of 32.5 lakh shares and an offer-for-sale (OFS) of 4.5 lakh shares. Shares are being offered at ₹145 apiece in a lot size of 1,000 units for retail investors.

Bidding for the issue closes on January 24. The IPO allotment status is expected to be finalised on January 27. The stock is scheduled to get listed on the NSE Emerge platform on January 29.

Heavy bidding for CapitalNumbers Infotech IPO on Day 3

The ₹169.37-crore SME IPO of CapitalNumbers Infotech Ltd closed with a huge demand. The BSE SME issue was overall booked more than 134 times. The retail category was subscribed 72 times, while the NIIs quota was booked over 297 times. The QIBs subscribed their category over 122 times.

The CapitalNumbers Infotech IPO price band was fixed at ₹250 to ₹263 per share. The lot size was 400 shares. The stock is scheduled to be listed on the BSE SME platform on January 27.