Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding
Sai Silks Kalamandir’s IPO was oversubscribed 4.4 times on the final day of bidding, September 22. Qualified institutional buyers and high networth individuals supported the issue on closing day, bidding 12.35 times and 2.47 times the allotted quota, respectively. Retail investors seem to be less excited about the offer, buying 88 percent shares of the reserved portion.
The IPO comprises a fresh issuance of shares worth Rs 600 crore and an offer-for-sale of shares worth Rs 601 crore by promoters. The net fresh issue proceeds will be utilised by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts.
The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.
Analysts said that Sai Silks shares traded at around 5 percent premium over the upper price band in the grey market.
- 22 Sep
Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.
- 22 Sep
Signature Global IPO Subscribed 11.88 Times on Final Day
The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.
- 22 Sep
Pharma company Valiant Laboratories to go public on September 27
Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.
- 21 Sep
Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.
- 21 Sep
Signature Global IPO Subscription Update
Signature Global's IPO has received decent response from investors so far, with HNIs and retail investors being the most aggressive bidders. However, analysts advise investors to be cautious due to the company's history of losses and the fluctuating nature of the real estate industry.