IPO Wrap: 5 Issues open for bidding, Technichem Organics shares to be listed at 4% premium and more

Primary market investors had their hands full on Tuesday, January 7, with five new initial public offerings (IPOs) opening today, along with three others that were already open for bidding. Shares of a small and medium enterprise (SME) also made their debut on stock exchanges.

Here’s a detailed look at each of these issues, which are open for subscription today:

Quadrant Future Tek IPO Day 1

The ₹290-crore mainboard IPO of Quadrant Future Tek Limited saw strong demand across investor categories on the first day of bidding. The mainboard issue was booked 15.84 times with bids for over 9.18 crore shares against 58 lakh shares on offer.

The retail investors’ portion was overbid by 54.72 times, while the Non-Institutional Investors (NIIs) category was oversubscribed 21.49 times. The Qualified Institutional Buyers (QIBs) quota was, meanwhile, subscribed 5%.

The IPO is a 100% book-built offer made up of a fresh issuance of 1 crore shares. The price band for the offer has been set at ₹275 to ₹290 per share. The lot size for an application is 50.

The Quadrant Future Tek IPO subscription will close on January 9. The stock is likely to be listed on both the National Stock Exchange of India (NSE) and BSE on January 14.

BR Goyal Infrastructure IPO

The BSE SME issue of BR Goyal Infrastructure Ltd opened today on a muted note. However, by the end of the bidding at 5 pm the issue was fully subscribed driven by retail demand.

The IPO of the construction firm was booked 2.72 times in the retail category and 92% by the NIIs. The employees’ portion was booked 29%.

The BR Goyal Infrastructure IPO is a 100% book-built issue aimed at raising ₹85.21 crore. The offer is made up of a fresh issuance of 63.12 lakh shares. The price band for the offer is set at ₹128 to ₹135 per share. The lot size for an application is 1,000. Bidding will close on January 9, Thursday. The stock is likely to be listed on the BSE SME platform on January 14.

Avax Apparels and Ornaments IPO Day 1

The BSE SME issue of Avax Apparels and Ornaments Ltd opened today with a bang. The issue was booked nearly 28 times at the end of bidding on January 7. The retail portion of the IPO was booked over 49 times while the NIIs booked their category more than 6 times.

The IPO is a fixed-price issue of ₹1.92 crore. The offer comprises a fresh issuance of 2.74 lakh shares. The IPO price has been fixed at ₹70 apiece, and the minimum lot size is 2,000 units for retail investors.

The IPO will close on January 9. The stock is likely to be listed on the BSE SME platform on January 14.

Delta Autocorp IPO Day 1

The SME issue of Delta Autocorp Ltd also saw huge demand on the first day of bidding. The IPO was overall booked more than 13 times.

The retail investors’ portion was overbought 22.79 times, while the NIIs category was subscribed 8.24 times. The QIBs quota was booked 78% on the first day.

The Delta Autocorp IPO is a 100% book-built that aims to raise ₹54.60 crore. The offer is a combination of a fresh issuance of 38.88 lakh shares, aggregating to ₹50.54 crore, and an offer-for-sale (OFS) of 3.12 lakh shares, aggregating to ₹4.06 crore.

The price band for the offer has been set at ₹123 to ₹130 per share. The lot size for an application is 1,000. Bidding will close on January 9. The stock is likely to be listed on the NSE Emerge platform on January 14.

Capital Infra Trust InvIT Day 1

The ₹1,578-crore Capital Infra Trust InvIT IPO opened today. The book-built issue is a combination of fresh issuance of 10.77 crore shares, aggregating to ₹1,077 crore, and an offer-for-sale (OFS) of 5.01 crore shares, aggregating to ₹501 crore. Bidding will close on January 9.

The IPO price band has been set at ₹99 to ₹100 per share. The minimum lot size for an application is 150. Capital Infra Trust Invit will be listed on BSE and NSE with a tentative listing date of January 14.

Standard Glass Lining Technology Day 2

The Standard Glass Lining Technology IPO was booked more than 35 times on the second day of bidding on Tuesday.

The price band for the offer has been set at ₹133 to ₹140 per share. The lot size for an application is 107. Bidding will close on January 8, Wednesday. The stock is likely to be listed on both the NSE and BSE on January 13.

Indobell Insulation IPO Day 2

On the second day of bidding, the SME issue of Indobell Insulation Ltd was subscribed more than 5 times.

The IPO shares are offered at a price of ₹46 apiece in a lot size of 3,000 units. Bidding will close on January 8. Shares of the company are likely to be listed on the BSE SME on January 13.

Fabtech Technologies Cleanrooms IPO day 3

The BSE SME issue of Fabtech Technologies Cleanrooms Limited closed with a huge demand on Tuesday. The ₹27.74-crore issue was oversubscribed by nearly 688 times.

The retail category was overbooked 715 times, while the NIIs portion was booked 1,097 times. The QIBs segment was oversubscribed by 224 times.

The price band for the IPO was set at ₹80 to ₹85 per share, while the minimum bid size for an application was 1,600 shares. The stock is expected to be listed on the BSE SME platform on January 10.

Technichem Organics IPO listing

Technichem Organics shares to be listed with a premium of 4% on the BSE SME platform at ₹57.25 per share compared with its IPO price of ₹55. The ₹25.25-crore IPO was bought over 400 times during its three-day bidding period.