Six issues fully subscribed today, IGI ends at 13% premium on listing day

Companies typically avoid December due to concerns about limited participation from foreign portfolio investors during the year-end holiday period

The initial public offerings (IPOs) of DAM Capital Advisors, Sanathan Textiles, Concord Enviro Systems, Mamata Machinery and Transrail Lighting, whose issues are on their penultimate day, were subscribed between 1.24 and 37.75 times.

 

The issues of Ventive Hospitality, Senores Pharmaceuticals and Carraro India, which rolled out on Friday, were subscribed 0.09 to 1.78 times.

 

Together, these eight issues are raising Rs 5,501 crore. The issues of DAM Capital Advisors, Sanathan Textiles, Concord Enviro Systems, Mamata Machinery and Transrail Lighting will conclude on Monday, while the rest will end on Tuesday, making December the busiest month for IPOs this year. 

 

Companies typically avoid December due to concerns about limited participation from foreign portfolio investors (FPIs) during the year-end holiday period. However, the robust demand for new issues and listing gains have made issuers hit the markets.

 

Meanwhile, International Gemological Institute (IGI), which made its market debut on Friday, ended its inaugural session at a 12.75 per cent premium to its issue price. The stock opened at Rs 504.85, a premium of 21 per cent to its issue price. However, it gave up some gains and ended the session at Rs 470.15.

 

The company had priced its Rs 4,225-crore IPO between Rs 397 to Rs 417 per share. The IPO had a fresh issue component of Rs 1,475 crore and an offer for sale of Rs 2,750 crore. The issue was subscribed 35.5 times. Post listing, the company commands a market capitalisation of Rs 20,318 crore. IGI is a certification company for diamonds, gemstones and jewellery.