Sat Kartar Shopping shares list at 90% premium, 2 SME issues close with huge demand; check IPO highlights

Primary market investors were busy bidding for five active initial public offerings (IPOs) on Friday, January 17, including one SME issue that opened for bidding.

The primary market investors also kept a watch on two new listings on the stock exchanges. The SME issues of Kabra Jewels Ltd and Rikhav Securities Ltd closed with bumper subscriptions.

Here’s a look at the major developments in the IPO market on January 17:

EMA Partners India Ltd IPO opens to tepid demand

The EMA Partners India IPO opened on a subdued note. At the end of bidding at 5 pm, the NSE SME issue was subscribed only 52%. The retail portion of the IPO was subscribed 77%, while the Non-Institutional Investors’ (NII) segment was subscribed 62%.

The IPO is a 100% book-built issue aimed at raising ₹76.01 crore. It is a combination of fresh issuance of 53.34 lakh shares, amounting to ₹66.14 crore, and an offer-for-sale (OFS) of 7.96 lakh shares, aggregating to ₹9.87 crore. The IPO price band has been fixed at ₹117 to ₹124 per share, while the minimum bid size for the retail investors is at least a single lot size of 1,000 shares.

Bidding for the IPO will close on January 21. Share allotment is expected to be finalized on January 22. The EMA Partners India stock is scheduled to list on the NSE Emerge platform on January 24.

Stallion India Fluorochemicals IPO Day 2

Bidding in the ₹199.45-crore Stallion India Fluorochemicals IPO continued at a solid pace on the second day. The mainboard issue was booked 32 times led by the NIIs.

The retail portion of the IPO was subscribed nearly 31 times, while the NIIs segment was booked 77 times. The QIBs booked only 31% of their quota.

The price band for the IPO has been set at ₹85 to ₹90 per share, while the lot size for an application is 165 shares for the retail investors.

The IPO will close for bidding on January 20. Shares of Stallion India Fluorochemicals Ltd are scheduled to be listed on both the BSE and NSE on January 23.

Landmark Immigration Consultants Ltd IPO Day 2

The ₹40.32-crore BSE SME issue of Landmark Immigration Consultants Ltd saw decent demand on the second day of bidding. The issue was overall booked 6.28 times, while the retail portion was subscribed more than 10 times. The NIIs booked their quota 5.5 times and the QIBs also fully subscribed their segment.

The IPO price band has been fixed at ₹70 to ₹72 per share. For retail investors, the minimum lot size is 1,600 units.

The subscription window will close on January 20. The stock is scheduled to be listed on the BSE SME platform on January 23.

Kabra Jewels Ltd IPO Day 3

The ₹40-crore SME IPO of Kabra Jewels Ltd closed after witnessing huge demand. The NSE SME issue was subscribed 356 times.

The retail quota was booked nearly 385 times, while the NIIs segment was booked nearly 557 times. The QIBs booked their quota more than 154 times.

The company fixed the IPO price band at ₹121 to ₹128 per share, which is a minimum lot size of 1,000 shares for an application by retail investors.

Kabra Jewels shares are scheduled to be listed on the NSE Emerge platform on January 22.

Rikhav Securities IPO Day 3

The ₹88.82-crore public offer of Rikhav Securities Ltd also saw a bumper subscription on the last day. The BSE SME issue closed with an overall subscription of 307 times.

The retail investors segment was overbought by more than 251 times, while the NIIs segment was overbid by 616 times. The QIBs booked their category nearly 171 times.

The IPO price band was fixed at ₹82 to ₹86 per share. The lot size for an application by retail investors was 1,600 shares. Rikhav Securities shares are scheduled to be listed on the BSE SME platform on January 22.

Sat Kartar Shopping, Capital Infra Trust InvIT make trading debut

Shares of Sat Kartar Shopping Ltd, an SME company that sells Ayurvedic and wellness products, made a spectacular trading debut on January 17. The stock opened on the NSE Emerge platform at a 90% premium over its issue price. Shares made their debut at ₹153.9 apiece, up 90% compared to its initial public offering (IPO) price of ₹81 per share.

Shares of Capital Infra Trust InvIT, an infrastructure investment trust (InvIT), also listed flat at ₹99. The ₹703-crore Capital Infra Trust Invit IPO was subscribed 2.8 times. The price band for the issue was set at ₹99 to ₹100 per unit.