Goenka Diamond, Intrasoft IPOs get good response

The initial public offer (IPO) of Goenka Diamond & Jewels, which opened for subscription on Tuesday, was over subscribed on the first day with institutional investors putting in sizeable bids. Another IPO that opened on Tuesday — Intrasoft Technologies — also saw sizeable number of bids pouring in on the first day of the issue. Meanwhile, Shree Ganesh Jewellery House, that closed on Tuesday, was subscribed 1.96 times.

According to the data available on the National Stock Exchange (NSE) website, Goenka Diamond IPO was subscribed 1.65 times with total bids received for 16.52 million shares, as against 10 million shares on offer in the price band of Rs 135 to Rs 145.

The qualified institutional buyers (QIBs) portion of Goenka Diamond was subscribed 1.07 times with bids received for 5.34 million shares, as against 5 million shares on offer.

Incidentally, all the bids in the QIB portion had been received from domestic financial institutions. Meanwhile, non-institutional and retail portions had been subscribed 0.64 times and 0.04 times, respectively.

Intrasoft Technologies was another IPO that opened for subscription on Tuesday. The issue was subscribed 0.57 times with bids received for 2.10 million shares.

While the QIB portion was subscribed 0.89 times, the HNI segment remained subscribed 0.72 times on day one. The issue has a total of 3.7 million shares on offer in the price band of Rs 137 to Rs 145.

The IPO of Shree Ganesh Jewellery House, which closed on Tuesday, was subscribed 1.96 times with bids received for 23.06 million shares.

The issue comprises 11.76 million shares on offer in the price band of Rs 260 to Rs 270. While the QIB portion was subscribed 1.38 times, the HNI and retail portions were subscribed 6.13 times and 1.39 times respectively.

Within the QIB categoty, FIIs put in bids for 6.55 million shares, while domestic institutional investors have bid for 1.83 million shares.