IPO Street is on fire with a large number of issues keeping investors busy with calculators. Almost all the issues hitting the market this month have positive GMPs (Grey market Premium) that signal positive listing gains for investors.
A few IPOs have the last bidding day on Tuesday, September 24. These are Avi Ansh Textile, Phoenix Overseas, SD Retail and BikeWo GreenTech. Let’s see what is the subscription status of the issues, the GMP, the price of an equity share and the minimum investable lot for retail investors.
Avi Ansh Textile IPO: This issue of Rs 25.99 crore has received application that is 4 times the overall amount. The retail portion of the issue has been subscribed 5.64 times. The price of a share is Rs 62 and the minimum lot is 2,000 shares. The estimated listing price is Rs 74 (GMP of Rs 12) and signals a listing gain of more than 19%. Allotment to be decided on September 25.
Phoenix Overseas IPO: High demand led to the retail portion of this IPO to be oversubscribed 1.03 times on the first day (September 20) itself. On September 23, it rose to 31.13 times (retail) and 16.38 times overall. The price of an equity share of Phoenix Overseas is Rs 61-64. The minimum lot that a retail investor has to apply for is 2,000 shares. The GMP stood at Rs 25 indicating a listing gain of 39%. Allotment expected on September 25.
SD Retail IPO: The retail portion of the IPO was oversubscribed 15.31 times and 8.75 times overall. The price of an equity share has been fixed at Rs 124-131. The minimum investible lot is 1,000 shares which means one has to commit Rs 1.31 lakh. The GMP stood at Rs 45 which indicated a listing gain of more than 34%, taking Rs 131 as the price of a share. Allotment is expected on September 25.
BikeWo GreenTech IPO: On September 23, retail investors applied for 17.18 times the shares on offer through this IPO. The overall oversubscription stood at 9.49 times. The price of an equity share has been fixed at Rs 59-62. A retail investor has to apply for a minimum of 2,000 shares that would cost Rs 1.24 lakh. The GMP stood at Rs 20, indicating a listing gain of more than 32%. Allotment is on September 25.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
September 24 offers investors the last day to apply for subscription to a host of SME IPOs in these companies all of which indicate listing gains. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
