Confusion in IPOs amidst strong response
IPO market has been roaring and amidst all the buzz there is some confusion that has emerged regarding the listing of most awaited stocks. Last week, five IPOs were open. They were IREDA, Tata Technologies, Gandhar Oil Refinery, Flair Writing, Fedbank Financial Services. All the IPOs got a good response. Tata Technologies and Gandhar Oil […]
IPO market has been roaring and amidst all the buzz there is some confusion that has emerged regarding the listing of most awaited stocks.
Last week, five IPOs were open. They were IREDA, Tata Technologies, Gandhar Oil Refinery, Flair Writing, Fedbank Financial Services. All the IPOs got a good response. Tata Technologies and Gandhar Oil were subscribed more than 60 times while Flair Writing was subscribed close to 50 times and IRDEA close to 40 times.
With such a subscription there is some confusion about when these IPOs will get listed. IREDA was open for bidding from 21 November to 23 November while the other 4 were open for bidding from 22 November to 24 November. So as per T+3 rule of SEB, IREDA is supposed to get listed on 29th November while the rest of the 4 IPOs on 30th November.
However, given the huge bidding size, there is some buzz that the listing of Tata Technologies will happen next week. However, it seems more likely that all the IPOs will get listed this week. IREDA on 29th November, while Tata Technologies with rest on 30th November.
Let’s move on to SME space.
On SME board, one IPO was listed today and one IPO was open for subscription. Arrowhead Seperation Engineering opened on BSE for Rs 250 per share while its issue price was Rs 233 per share. This means that share was listed at a premium of 7.3%.
Published: November 28, 2023, 16:48 IST