Tag: IPO – Issues Open

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.

Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized 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.

Manoj Vaibhav Gems 'N' Jewellers' IPO was subscribed 13% on Day 1. Retail investors bought 25% of their allotted quota of shares and high networth individuals (HNIs) 5%. The company will use fresh issue proceeds for setting up eight showrooms, and the remaining for general corporate purposes.

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.

Signature Global (India)'s IPO was subscribed 100% on the second day of bidding, with bids for 1.12 crore equity shares against an offer size of 1.12 crore shares. High networth individuals (HNIs) and retail investors bid aggressively, subscribing 2.16 times and 2.12 times their respective quotas, while qualified institutional buyers (QIBs) subscribed 9% of the reserved portion.

Sai Silks Kalamandir's IPO subscribed just 7% on the first day of bidding, with retail investors and high net-worth individuals showing decent support, but qualified institutional buyers (QIBs) being lukewarm. The company aims to raise Rs 1,201 crore through its public issue, comprising a fresh issue of Rs 600 crore and an offer-for-sale (OFS) of Rs 601 crore by the promoter group. The price band for the offer has been fixed at Rs 210-222 per share. The net fresh issue proceeds will be used mainly for setting up new stores, building warehouses and working capital requirements. The company has a network of 54 outlets in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.

Yatra Online's IPO subscribed 1.61 times on the final day of bidding, with retail investors providing decent support. However, QIBs and HNIs were less enthusiastic, possibly due to the aggressive pricing of the issue. Some brokerages remain positive on the company from a medium-to-long-term perspective, but investors should carefully consider the company's fundamentals, valuation, and risk factors before making an investment decision.

The IPO of Signature Global India was subscribed 54% on Day 1, much better than the IPO of Sai Silks. Retail investors were aggressive on the debut, while qualified institutional investors bid for a smaller portion of the shares. The company plans to use the IPO proceeds to repay debt, make land acquisitions, and for general corporate purposes. It has sold 27,965 residential and commercial units since 2014, all within the Delhi NCR region. Its sales grew at a CAGR of 42.46% during FY21-FY23.

Zaggle's IPO subscribed 12.57 times, raising Rs 563.38 crore. The company will use the money for customer acquisition, product development, and debt repayment. It's a B2B2C fintech player with steady revenue and profitability growth. Shares to list on Sept 27.

Zaggle IPO subscribed 43% on Day 2, with retail investors providing good support. However, the response from HNIs and QIBs was lukewarm. The company is bringing the issue at a price band of Rs 156-164 per share at a P/E multiple of 87x on an issue FY23 basis. Analysts are cautious about the IPO given the lukewarm response from QIBs and the aggressive pricing. They advise investors to do their own research and invest carefully.