September 2024 is one of the busiest months in IPO Street in recent times. Between September 1 and 17, as many as 28 IPOs are being floated, which is a record in the past several years. As many as 3 IPOs are closing the process of bids today, September 11, 2024. These are showstopper Bajaj Housing Finance, Kross and Tolins Tyres.
The subscription status can trigger envy in any company. On the second day, it was oversubscribed 8.08 times – application for 554.52 crore shares were filed while only 68.6 crore shares are on offer. The retail portion was subscribed 4.25 times. Kross registered an overall oversubscription of 2.73 times (retail part 4.15 times) while Tolins Tyres recorded application of 5.56 times of the shares on offer (retail part 8.98 times).
GMP of Bajaj Housing, Kross & Tolins Tyres
According to investorgain, the GMP of Bajaj Housing Finance stood at Rs 70 on September 11 and 10. On September 9, the first day of the IPO, the GMP stood at 64 and the day before it was at Rs 56.70. This data indicates rising excitement among investors about the IPO. The shares carry a price band of Rs 66-70. Therefore the listing gains are indicated at 100%. However, GMP is an unofficial estimate only.
The GMP for Kross stood at Rs 48 on the morning of September 9. On September 10 and 11, it rose to Rs 50, indicating significant listing gains. The upper band of the issue price is Rs 240 and the listing gain could be 20.83%.
The GMP for Tolins Tyres was at Rs 39 on September 9, 10 and 11. It was at Rs 30 on September 6-8, indicating rising enthusiasm among investors. The price band of this share is Rs 226. Therefore, the listing gain can be 17.26%.
Allotment and listing
Allotment for the 3 IPOs will be finalised on September 12. Listing will take place on both BSE and NSE on September 16.
(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.)
These 3 public issues – Bajaj Housing Finance IPO, Kross Ltd IPO and Tolins Tyres IPO – have hit IPO Street between September 9 and 11 and want to raise a cumulative amount of Rs 7,270 crore. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
