Hero Motors Vs Jindal Supreme Vs SS Retail Listing: Three companies — Hero Motors, Jindal Supreme and SS Retail — made their stock market debut on Wednesday, September 23, with their shares delivering sharply different listing performances.
Hero Motors made a weak debut, listing at Rs 82 on the NSE and Rs 82.10 on the BSE, against its IPO issue price of Rs 84. The stock therefore listed at a discount of 2.38% on the NSE and 2.26% on the BSE.
In contrast, Jindal Supreme shares made a strong debut at Rs 320 on both the NSE and BSE, marking a 25.98% premium to the IPO issue price of Rs 254.
SS Retail also delivered a strong listing, opening at Rs 624 on the NSE, a 47.17% premium to its issue price of Rs 424. On the BSE, the stock debuted at Rs 639.10, representing a 50.73% premium.
Hero Motors IPO Subscription
Hero Motors IPO was subscribed 6.66 times overall during the bidding period. The retail portion was subscribed 8.23 times, while the NII portion was subscribed 9.86 times and the QIB portion 1.49 times.
ALSO READ: Hero Motors IPO Listing: Shares Make Weak Debut At Rs 82, 2.4% Below Issue Price
The Rs 1,000 crore IPO comprised a fresh issue of 7.14 crore shares worth Rs 600 crore and an offer for sale of 4.76 crore shares aggregating to Rs 400 crore.
Jindal Supreme IPO Subscription
Jindal Supreme IPO was subscribed 181.07 times by the end of the bidding period. The QIB portion was subscribed 126.41 times, the NII portion 327.99 times and the retail portion 149.34 times.
ALSO READ: Jindal Supreme Makes Strong Debut, Shares List At 29% Premium At Rs 120 Per Share On NSE
The Rs 124.88 crore IPO comprised a fresh issue of 1.07 crore shares worth Rs 99.89 crore and an offer for sale of 26.87 lakh shares worth Rs 24.99 crore.
SS Retail IPO Subscription
SS Retail IPO received a massive 103.30 times subscription during the bidding period. The Rs 500 crore issue comprised a fresh issue of 85.08 lakh shares worth Rs 360 crore and an offer for sale of 33.02 lakh shares aggregating to Rs 140 crore.
ALSO READ: SS Retail Shares Make Stellar Debut, List With 51% Premium At Rs 639.10 Per Share On BSE
The IPO price band was set at Rs 403-Rs 424 per share. The company plans to use the net proceeds for capital expenditure towards new stores, incremental working capital and general corporate purposes.
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