IPOs see investor rush; five issues attract total bids worth Rs 1.4 trn

The five initial public offerings (IPOs) that closed on Monday attracted cumulative bids worth Rs 1.4 trillion against Rs 2,909 crore they were looking to raise. These offerings were subscribed between 11 and 195 times.

 

Mamata Machinery, a limited manufacturer of machines used for making plastic bags, saw the highest oversubscription at 195x.  The company’s Rs 179 crore IPO was entirely an offer for sale.

 

The IPOs of engineering and construction company Transrail Lighting and investment banking firm DAM Capital Advisors were subscribed over 80 times each. 

 

The IPO of polyester yarn manufacturer Sanathan Textiles was subscribed over 36x, while that of Concord Enviro Systems, a wastewater treatment firm, was subscribed nearly 11x.

 

Meanwhile, the IPO of Unitech Aerospace and Manufacturing, a components maker for aeroengine and airframe production, was subscribed over 4 times on the first day.

 

As many as 15 IPOs — the highest for a calendar month in 2024 — have been launched this month, to cap a record year for IPO mobilisation. Over Rs 1.6 trillion has already been raised via IPOs, surpassing the previous best tally of Rs 1.1 trillion in 2021.