Wager on IPOs exceeds Rs 1 trn; Doms subscribed 93x, India Shelter 37x

Investors placed bids exceeding Rs 1-trillion on the initial public offerings (IPOs) on Friday, bolstering prospects of another half a dozen maiden share sales that open for subscription next week.

The IPO of Doms Industries, which closed on Friday, garnered the highest subscription at 93.4 times, generating bids worth Rs 65,293 crore. The qualified institutional buyer (QIB) portion was subscribed 116 times, the high net worth individual (HNI) portion 67 times, the retail investor portion nearly 70 times and the portion reserved for employees 28.75 times. The Rs 1,200-crore IPO comprised a fresh issue of Rs 350 crore and an offer for sale of Rs 850 crore. DOMS is a leading manufacturer of stationery products.

Meanwhile, the IPO of India Shelter Finance Corporation, which also concluded on Friday, was subscribed nearly 37 times. The QIB was subscribed 89.7 times, the wealthy investor portion 28.5 times, and the retail investor portion 10 times. The Rs 1,200-crore IPO comprises a fresh issue of Rs 800 crore and an offer for sale of Rs 400 crore. The company priced its IPO between Rs 469 to Rs 493 per share. India Shelter Finance is an affordable housing finance company with 203 branches as of September 30, 2023.

Meanwhile, the IPO of Inox India was subscribed seven times on the penultimate day of its issue. The institutional portion was subscribed to 40 per cent, the wealthy investor portion by 13.8 times,  and the retail portion by 8.2 times.

Another half a dozen IPOs open for subscription next week.