The subscription for the initial public offerings (IPOs) of Powerica, Sai Parenteral and Amir Chand Jagdish Kumar, which opened on March 24, will enter its second day on Wednesday.
Among the three IPOs, Amir Chand Jagdish Kumar saw a strong start with the mainboard offer getting fully subscribed on Day 1. IPOs of Powerica and Sai Parenteral received a tepid investor response with low subscription numbers on Tuesday.
Despite current market conditions, these IPOs remain in focus for grey market traders who estimate the possible listing price based on the grey market premium.
Here's everything you need to know about the IPOs of Powerica, Sai Parenteral and Amir Chand Jagdish Kumar.
Powerica IPO: GMP, Price Band And More
According to InvestorGain, the latest GMP for the Powerica IPO was Rs 4 per share on March 25. It indicates that the unlisted shares were trading at Rs 399 apiece in the private market, at a premium of 1.27% over the upper limit of the IPO price band.
The Powerica IPO was subscribed 0.01 times on the first day of bidding on March 24. The IPO received bids for 2,07,866 shares against 2,05,55,171 shares offered.
The Powerica IPO is a book build issue of Rs 1,100 crore. It comprises a fresh issue of 1.77 crore shares worth Rs 700 crore and an offer-for-sale (OFS) of 1.01 crore shares amounting to Rs 400 crore. The IPO price band is fixed at Rs 375 and Rs 395 per share.
To participate in the IPO, retail investors need to bid for a single lot size of 37 shares, requiring an investment of Rs 14,615.
The allotment of shares is proposed to be finalised on March 30. Shares of Powerica will be listed on the BSE and NSE on April 2.
Powerica is a power solutions provider specialising in manufacturing and servicing diesel generator sets. It was established in 1984.
ALSO READ: Powerica IPO Opens Today: Should You Subscribe?
Sai Parenteral IPO GMP, Price Band And More
The GMP for the Sai Parenteral IPO was NIL on March 25, according to InvestorGain. It indicates a flat listing for the offer.
The Sai Parenteral IPO was subscribed 0.04 times on the first day of bidding on March 24. The IPO received bids for 3,35,426 shares against 75,22,486 shares offered.
The Sai Parenteral IPO is a book build issue of Rs 408.79 crore. It comprises a fresh issue of 73 lakh shares worth Rs 285 crore and an OFS of 32 lakh shares amounting to Rs 123.79 crore. The IPO price band is set at Rs 372 to Rs 392 per share.
Retail investors can participate in the IPO by bidding for a single lot size of 38 shares, requiring an investment of Rs 14,896.
Share allotment is expected to be finalised on March 30. The shares of the company are scheduled to list on the BSE and NSE on April 2.
Sai Parenterals operates as a diversified pharmaceutical formulations firm, with capabilities spanning research, development and manufacturing.
ALSO READ: Manipal Health Enterprises Files DRHP For IPO To Raise Rs 8,000 Crore In Fresh Issue
Amir Chand Jagdish Kumar IPO GMP, Price Band And More
According to InvestorGain, the latest GMP for the Amir Chand Jagdish Kumar (Exports) IPO was Rs 7 on March 25. This means the unlisted shares were trading at Rs 219 apiece in the grey market, with an expected listing gain of 3.30%.
The IPO was subscribed 1.19 times on the first day of bidding on March 24. It received bids for 2,25,64,710 shares against 1,89,05,270 shares offered.
The Amir Chand Jagdish Kumar (Exports) IPO is a book build issue of Rs 440 crore. It comprises a fresh issue of 2.08 crore shares. The IPO price band is set at Rs 201 and Rs 212 per share.
To participate in the IPO, retail investors need to bid for a single lot size of 70 shares, requiring an investment of Rs 14,840.
Allotment of shares is likely to be finalised on March 30. The shares of Amir Chand Jagdish Kumar (Exports) are scheduled to list on the BSE and NSE on April 2.
Amir Chand Jagdish Kumar (Exports) processes and exports basmati rice, notably under its flagship brand "Aeroplane". Other brands include La-Taste, Alibaba, and World Cup.
Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
