IPO Wrap: SME issues of Toss The Coin, Jungle Camps Indi see strong demand on day 1 and more

Primary market investors had their hands full on Tuesday, December 10, with two small and medium enterprises (SMEs) launching their initial public offerings (IPOs). The SME IPO of Dhanlaxmi Crop Science Ltd also continued to see strong demand on the second day of bidding on December 10.

On top of that, five new issues are set to hit the markets tomorrow, December 11.

Here’s a detailed look at how each of these issues are performing today:

Toss The Coin IPO oversubscribed heavily on Day 1

The ₹9.17-crore Toss The Coin IPO opened for subscription today on a solid note. Demand for the company’s shares was high, with the issue getting oversubscribed within hours of launch.

On the first day of bidding, the IPO was subscribed 91.31 times with bids for more than 3 crore shares against 3.35 lakh shares on offer.

The retail portion was overbought by 156.19 times, while the Non-Institutional Investors’ (NIIs) segment was booked nearly 61 times. The Qualified Institutional Buyers (QIBs) applied for only 1,200 shares against 95,400 shares reserved for the category.

The Toss the Coin IPO is a book-built issue comprising entirely a fresh issuance of 5.04 lakh shares. The price band has been set at ₹172 to ₹182 per share, with a minimum bidding quantity of 600 shares. The stock is scheduled to be listed on the BSE SME platform on December 17.

Jungle Camps India IPO garners huge demand, too

The IPO of the hospitality group Jungle Camps India Ltd also started off on a strong footing.

The issue was oversubscribed 36.11 times on the first day with bids for more than 9.81 crore shares against 27.18 lakh shares on offer. The retail portion was oversubscribed by 61.92, while the NIIs’ category was booked 24.1 times. The QIBs segment received applications for only 9,600 shares against 7.77 lakh shares set aside for the category.

Shares of Jungle Camps India are being offered in the price band of ₹68 to ₹72 apiece in a lot size of 1,600 units.

It is a 100% book-built issue worth ₹29.42 crore and is made up entirely of a fresh issue of 40.86 lakh shares.

The stock is expected to be listed on the BSE SME platform on December 17.

Dhanlaxmi Crop Science IPO going strong on Day 2

The Dhanlaxmi Crop Science IPO, which opened for subscription on Monday, continued to witness huge demand on the second day as well. By the end of Day 1, the IPO was oversubscribed almost 19 times.

On the second day of bidding the NSE SME issue was booked 66.26 times. The retail portion of the IPO was booked 100 times. The NIIs booked their quota 64.25 times while the QIBs subscribed their category 1.35 times.

Emerald Tyre Manufacturers IPO allotment

Emerald Tyre Manufacturers IPO share allotment status is expected to be finalised on December 10. The SME issue closed for bidding on December 9. The IPO was subscribed over 530 times.

Investors who had applied for the issue can check the status of allotment on the NSE website or at the portal of the registrar of the issue, Link Intime India Pvt. Ltd.

Shares of the company will be listed on the NSE SME platform on December 12.

Another green energy company announces IPO

Continuum Green Energy Ltd, a company backed by Morgan Stanley Infrastructure Partners and climate specialist investor Just Climate, has filed its draft papers with markets regulator Securities and Exchange Board of India (Sebi) to raise ₹3,650 crore via an IPO on Monday.

According to the draft papers, the IPO consists of a fresh issue size of ₹1,250 crore and an offer-for-sale (OFS) of ₹2,400 crore. The selling shareholder in the OFS is the company’s promoter entity Continuum Green Energy Holdings Ltd. The equity shares are proposed to be listed on both BSE and NSE.

Big day tomorrow as 3 mainline IPOs, 2 SME IPOs open for subscription

The ₹8,000-crore Vishal Mega Mart IPO, ₹572-crore One Mobikwik Systems IPO and ₹3,042.62-crore Sai Life Sciences IPO are the three mainboard IPOs that are opening for subscription tomorrow, December 11. The issues will close on December 13.

Two SME IPOs that will open for subscription include Supreme Facility Management Ltd and Purple United Sales Ltd.