Indian IPO Market: Strong Debuts & High Subscriptions
By IPO Desk
Explore the Indian IPO market’s recent performance, featuring strong debuts from Shiprocket & Behari Lal Engineering, and high subscription rates for Lalithaa Jewellery.
E-commerce logistics platform Shiprocket closed at ₹143.50, a 47.94% premium on its debut. It listed at a 33.51% premium to its issue price of ₹97.
Debut Performance Highlights
- Shiprocket: Listed at 33.51% premium to ₹97, closed at ₹143.50 (47.94% premium).
- Behari Lal Engineering: Listed at 61% premium to ₹285, closed at ₹502.55 (76.33% premium).
Symbiotec Pharmalab Ltd. has set its IPO price band at ₹938–988 per share for its ₹1,757-crore offering. Bidding begins August 24 and concludes August 27.
Symbiotec IPO Timeline
- Anchor investors bid: August 21.
- Tentative listing date: September 1.
- Fresh issue: ₹150 crore (for debt repayment and general corporate purposes).
- Offer for sale: Up to ₹1,607 crore.
Lalithaa Jewellery Mart’s IPO was significantly oversubscribed, reaching 62.97 times on its third and final bidding day. This was primarily driven by qualified institutional buyers.
Lalithaa Jewellery Subscription Details
- Qualified Institutional Buyers (QIBs): 145.38 times.
- Non-Institutional Investors (NII): 73.90 times.
- Retail Individual Investors (RIIs): 11.81 times.
- Employee segment: 8.55 times.
Horizon Industrial Parks Limited’s IPO was subscribed 1.45 times on its third day of bidding. Bids totalled 36.37 crore shares against 25.13 crore shares on offer.
Horizon Industrial Parks Subscription
- Qualified Institutional Buyers (QIBs): 1.85 times.
- Employee portion: 1.42 times.
- Non-institutional investors (NII): 0.98 times.
- Retail individual investors (RIIs): 0.96 times.
The IPO, priced between ₹57 to ₹60 per share, aimed to raise ₹2,600 crore, mainly for repaying existing borrowings. The varied subscription levels across these offerings highlight a dynamic Indian IPO market.