MobiKwik IPO fully subscribed on Day 1, Vishal Mega Mart and Sai Life Sciences receive lukewarm response from investors

Primary markets were buzzing with activity on Wednesday, December 11, as investors were spoilt for choice with the opening of three mainboard and two SME initial public offerings (IPOs) on the stock exchanges.

To top it off, an SME IPO is listed at a 25% premium, fuelling optimism among primary market investors.

₹8,000-crore Vishal Mega Mart IPO booked 51% on first day

The mega ₹8000-crore IPO of Vishal Mega Mart Ltd opened on Wednesday but could not garner encouraging subscription numbers.

The issue was subscribed just 51% on day 1, with investors bidding for 38.58 crore shares against 75.67 crore shares on offer.

According to data available on the stock exchanges, the retail portion was booked 19.92 times, while the Non-Institutional Investors’ (NIIs) portion was booked 1.11 times. The Qualified Institutional Buyers (QIBs) segment was subscribed to only 3%.

The IPO will close for bidding on December 13. The IPO listing has been scheduled for December 18.

MobiKwik IPO opens on a solid note led by retail demand

The One MobiKwik Systems Ltd IPO opened with a bang, getting oversubscribed within hours of launch.

MobiKwik IPO was subscribed 7.31 times, receiving bids for more than 8.68 crore shares compared to 1.18 crore shares on offer.

Retail investors led the demand for the IPO, with the portion getting oversubscribed by 26.71 times and the NIIs segment being booked 8.97 times. The QIBs category only saw bids for 1.17 lakh shares against 64.75 lakh shares on offer.

The IPO is open for subscription till December 13, while the listing date has been tentatively fixed as December 18.

Sai Life Sciences IPO gets lukewarm response

The Sai Life Sciences Ltd IPO, too, struggled to generate huge demand for its shares on the first day of bidding on December 11.

The issue was subscribed 84% with bids for more than 3.27 crore shares compared to 3.88 crore on offer. The retail portion was booked at 18%, while the NIIs segment was subscribed at 15%. The QIBs subscribed to their category 2.62 times.

SME IPOs

The ₹32.8-crore Purple United Sales IPO and ₹50-crore Supreme Facility Management Ltd IPO opened today for subscription.

While the Purple United Sales IPO was subscribed 7.3 times on the first day, the Supreme Facility Management IPO was subscribed 1.72 times.

Meanwhile, the Dhanlaxmi Crop Science IPO, which is closed for subscription today, was oversubscribed by 556 times.

Nisus Financial Services shares list at 25% premium

Shares of small and medium enterprise Nisus Finance Services Co. Ltd listed at a 25% premium on the BSE SME platform on Wednesday. The stock opened at ₹225 apiece against the issue price of ₹180 per share. The share price rose further during the day, hitting the 5% upper circuit at ₹236.25.

The ₹114.24-crore IPO was oversubscribed 192.29 times from December 4 to December 6, when it was open for subscription.