From Rail Vikas Nigam To IRCTC, A Look At The Biggest IPOs So Far This Year
The primary market had an upbeat 2019, thanks to the bouyancy in the secondary markets. Conventional themes such as railways and financials, as well as emerging stories such as fintech caught the fancy of both institutional and retail investors.
The IPO of IRCTC received a huge thumbs-up from the investors, going by the subscription figures of 111 times. This goes to show that brand recognition and brand recall plays a crucial role in the success of an IPO. And the stock lived up to its reputation, doubling on the very first day of trading. At the other end of the spectrum, mobile marketing company Affle (India) was subscribed by 86 times despite being an emerging theme. This proves that money gravitates towards IPOs endowed with immense potential, quality management and right pricing.
Here are some IPOs of 2019
Indian Railway Catering and Tourism Corporation Limited (IRCTC)
IRCTC, a government monopoly in the railway ticketing and catering business, tapped the IPO market from September 30 to October 12 with an Rs 645.12 crore issue in the price range of Rs 315-320 per share. The primary offering was subscribed by 111 times. The shares - allotted at Rs 320 per share - soared to Rs 981 on debut day, marking a premium of 202 per cent over the issue price and are still going strong.
Affle India
Affle (India), a mobile marketing platform, had an issue size of Rs 459-crore. The company sold shares in the price band of Rs 740-745 a share and the issue was subscribed 86 times.
Ujjivan Small Finance Bank
Small Finance Bank, Ujjivan Small Finance Bank's IPO was priced in the band of Rs 36-37 a share and was oversubscribed 166 times. The lender raised Rs 750 crore through its primary offering.
CSB Bank
The Rs 410-crore CSB Bank IPO was subscribed 87 times. The IPO was priced in a band of Rs 193-195 per share. The CSB bank share debuted on the Bombay Stock Exchange at a premium of 41 per cent.
Polycab India
Fast moving electric goods company, Polycab India approached the IPO market with an IPO of Rs 1,349.94 crore, priced between Rs 533 and Rs 538 per share. The issue was subscribed 52 times.
Metropolis Healthcare
The IPO of Metropolis Healthcare was another big IPO issue during the year. The IPO of the pathology lab and diagnostics centre was worth Rs 1,204.29 crore and was subscribed 5.84 times. The price band for the issue was Rs 877 to Rs 880 per share.
Rail Vikas Nigam
Rail Vikas Nigam, an engineering project company of Indian Railways, offered shares in the price band of Rs 17-19. The IPO was subscribed 1.8 times and at the upper end of the price band, the issue size amounted to Rs 482 crore.
IndiaMART InterMESH
The Rs 476-crore IPO of online B2B marketplace, IndiaMart InterMESH was subscribed 36 times. The price band was Rs 970 - Rs 973 per share and the shares were issued at the higher end of the price band at Rs 973 per share.
Neogen Chemicals
Neogen Chemicals issued shares in the price range of Rs 212-215 per share a Rs 132 crore issue. The IPO was subscribed 41 times. Neogen Chemicals is a manufacture of organic chemical compounds and inorganic chemicals.
Looking ahead, the upcoming year also looks promising for the primary market as a slew of IPOs such as Mazagon Dock Shipbuilders, Chemcon Speciality Chemicals, Montecarlo, Mukesh Trends Lifestyle, Burger King India and Puranik Builders are lined up for the new year. Many financial companies are also likely to raise funds to meet regulatory requirements, including the likes of SBI Cards and Payment Services, UTI Asset Management and Fincare Small Finance Bank.
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