Bidding Up To 220%: IPOs Remain Unaffected By Market Fall Today

Even as the secondary market was hit severely on Friday amid US economic concerns with the Sensex and Nifty falling nearly 1 per cent each, the primary markets seemed unaffected with the subscription levels rose significantly. Namo eWaste Management saw its IPO subscription rising to a whopping 220 times of the issue size. My Mudra Fincorp garnered 10.87 times subscription, while Shree Tirupati Balajee received a 15.88 times subscription.

In the morning, Namo eWaste Management’s subscription had stood at 33 per cent. The subscription levels of My Mudra Fincorp and Shree Tirupati Balajee had stood at 6.65 per cent and 8.90 per cent.

According to mid-market investment bank Pantomath Capital Advisors, “The Indian primary market has demonstrated robust momentum this week, with several public offerings drawing strong demand from investors. The persistent zest for IPOs and healthy subscription numbers highlights the increasing investor confidence in the Indian IPO market. As per our analysis, August witnessed IPO fundraising hitting a 27-month high, with 10 companies raising approximately Rs 17,047 crore, making it the busiest period for public offerings since May 2022.”

The outlook for the Indian IPO market remains promising, with Pantomath Capital projecting that domestic companies could raise over Rs 1.50 lakh crore through IPOs in the next 12 months, signaling continued activity and strong investor interest ahead, it added.

Shree Tirupati Balajee IPO

Till 4.11 pm on the second day of bidding on Friday, the Rs 169.65-crore IPO received a 16.48 times subscription garnering bids for 23,57,98,200 shares as against the 1,43,08,000 shares on offer.

The category for non-institutional investors received 23.29 times subscription, while the portion for retail individual investors (RIIs) got subscribed 20.32 times. The QIB subscription got a 4.65 times subscription.

The IPO will be closed on September 9.

Namo eWaste Management IPO

Till 4:09 pm on the final day of bidding on Friday, the Rs 51.20-crore IPO received a 221.71 times subscription garnering bids for 88,82,64,000 shares as against the 40,06,400 shares on offer.

The category for non-institutional investors received 393.92 times subscription, while the portion for retail individual investors (RIIs) got subscribed 187.80 times. The QIB category got 151.75 times subscription.

The IPO was opened for public subscription on September 4.

My Mudra Fincorp IPO

Till 4:12 pm on the second day of bidding on Friday, the Rs 30.24-crore IPO received a 11.61 times subscription garnering bids for 2,33,55,600 shares as against the 20,11,200 shares on offer.

The category for non-institutional investors received 8.75 times subscription, while the portion for retail individual investors (RIIs) got subscribed 14.57 times. The QIB category got a 8.58 times subscription.

The IPO will be closed on September 9.

The Sensex and Nifty on Friday, September 6, declined by nearly 1 per cent, trading at 81,400 and 24,900, respectively, as investor sentiment weakened ahead of the US jobs report.

Apart from this, profit booking and a potential regulatory change in the futures and options segment also dampened spirits of investors.