Lalithaa Jewellery IPO Oversubscribed, Horizon Lags
By IPO Desk
Lalithaa Jewellery Mart IPO sees strong demand, oversubscribed 3.25x. Horizon Industrial Parks IPO faces weak response. Get details on GMP and potential listing gains.
Two Initial Public Offerings, Lalithaa Jewellery Mart and Horizon Industrial Parks, wrap up bidding today, August 19. Lalithaa Jewellery Mart saw strong demand, reaching 3.25 times subscription by its second day, while Horizon Industrial Parks lagged significantly.
Lalithaa Jewellery Mart: Strong Retail Interest
The jewellery firm’s IPO garnered substantial investor attention, particularly from retail participants.
- Overall subscription hit 3.25 times by day two evening.
- Retail investor category subscribed 2.96 times.
- Grey Market Premium (GMP) stood at Rs 40.
- Estimated listing price: Rs 241 against an upper price band of Rs 201.
- Potential listing gain projected at 19.90%.
The issue’s price band ranged from Rs 190-201 per share. Investors needed to commit to a minimum of 74 shares, costing Rs 14,874, as the company aimed to raise Rs 1,700 crore.
Horizon Industrial Parks: Weak Response
Horizon Industrial Parks faced a much cooler reception from the market.
- Overall subscription reached only 0.25 times by day two.
- Grey Market Premium (GMP) declined to Re 1.
- Estimated listing price: Rs 61 against an upper price band of Rs 60.
- Projected listing gain at 1.67%.
The IPO’s price band was set between Rs 57-60 per share, requiring a minimum retail investment of 250 shares, amounting to Rs 15,000.
Upcoming Milestones
Following today’s closure, several key dates are set for both public issues.
- Bid closure: August 19.
- Share allotment: August 20.
- Refunds and share credit: August 21.
- Listing date: August 24.
Grey Market Premiums remain unofficial, volatile indicators. They do not guarantee actual listing gains.