Investors are flocking towards IPO
Even the IPOs that are currently active are also getting a great response.
IPOs are showing a great trend. Various IPOs are getting listed in SME as well as mainboard space and response to them has been very good.
In recently closed IPOs subscription has shown keen interest of investors towards the primary market. Essen Speciality Films (71.03X subscription), Greenchef Appliances (44.89X subscription), Magson Retail (6.74X subscription), HMA Agro Industries(1.62X subscription), Veefin Solutions (2.46 X Subscription).
Even the IPOs that are currently open are getting a great response. It’s either because investors are feeling optimistic about these companies or they are not expecting better returns here than in other asset classes.
Now if we think about it commodity prices have fallen and we are close to the peak of interest rate cycles, this means money from there is flowing into equity markets both primary as well as secondary markets. All this indicates positive investor sentiment about the Indian growth story as well as companies looking to enter the equity market.
So it’s time to look at IPOs that are currently open for subscription and they are also indicating similar interest as shown by recently closed IPOs.
Here are the details of IPOs that are currently open for subscription.
Cyient DLM IPO:
Price Band Rs 250-265 / Share
IPO will be open for subscription from 27 June – 30 June
Company is looking to raise Rs 592 crore from IPO
All of this Rs 592 crore will be fresh issue
By the time of wrting story IPO got subscribed 7.19 times
GMP: Rs 110 /share
ideaForge Technology:
Price band Rs 638-672/Share
IPO will be open from 26 June to 30 June
Company is looking to raise Rs 567 from IPO
Out of that fresh issue will comprise Rs 240 crore
Company will sell 48.69 lakh shares through OFS
By time of writing story IPO got subscribed 43.40 times
GMP: Rs 550 /share