The three mainboard IPOs—Kanohar Electricals, Glass Wall Systems (India) and Prasol Chemicals—concluded their subscription on Thursday, Sept. 10, with Kanohar Electricals continuing to lead the listing-gain race.
Kanohar Electricals currently commands an estimated listing gain of 37.18% in the unlisted market. Glass Wall Systems (India) closely follows with an implied listing gain of 24.73%, while Prasol Chemicals continues to indicate a tepid debut.
All three issues closed for public subscription today at 5:00 p.m.
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IPO GMP Today & Implied Listing Gains (Quick Comparison)
*Note: Grey market premiums (GMP) and subscription figures are subject to intraday changes. Figures will be updated throughout Day 3.
Investors are closely analysing subscription levels, market trends, and grey market premium figures for indications of initial trading behaviour.
Kanohar Electricals IPO GMP & Day 3 Subscription Status
- Latest GMP: Rs 235.
- Estimated Listing Price: Rs 867 (Upper band Rs 632 + Rs 235 GMP), indicating an implied gain of 37.18%.
- Day 3 Subscription: The issue was booked 90.59 times on Sept. 10.
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Kanohar Electricals IPO Key Details
- Issue Size: Rs 1,055.74 crore (Fresh Issue: Rs 300 crore | OFS: Rs 755.74 crore).
- Price Band: Rs 601 to Rs 632 per share.
- Minimum Lot Size: 23 shares (Minimum investment: Rs 14,536).
- Key Dates: Bidding closes Sept. 10 | Allotment date: Sept. 11 | Tentative listing date: Sept. 16 (BSE, NSE).
- Lead Manager & Registrar: Nuvama Wealth Management Ltd. (Lead Manager) | MUFG Intime India Pvt. Ltd. (Registrar).
Glass Wall Systems IPO GMP & Day 3 Subscription Status
- Latest GMP: Rs 45.
- Estimated Listing Price: Rs 227 (Upper band Rs 182 + Rs 45 GMP), indicating an implied gain of 24.73%.
- Day 3 Subscription: The Glass Wall Systems (India) IPO was subscribed 81.65 times on Sept. 10.
Glass Wall Systems IPO Key Details
- Issue Size: Rs 427.89 crore (Fresh Issue: Rs 60 crore / 32.97 lakh shares | OFS: Rs 367.89 crore / 2.02 crore shares).
- Price Band: Rs 172 to Rs 182 per share.
- Minimum Lot Size: 82 shares (Minimum investment: Rs 14,924).
- Key Dates: Bidding closes Sept. 10 | Allotment date: Sept. 11 | Tentative listing date: Sept. 16 (BSE, NSE).
- Lead Manager & Registrar: IIFL Capital Services Ltd. (Lead Manager) | MUFG Intime India Pvt. Ltd. (Registrar).
Prasol Chemicals IPO GMP & Day 3 Subscription Status
- Latest GMP: Rs 4.
- Estimated Listing Price: Rs 680 (Upper band Rs 676 + Rs 4 GMP), reflecting a 0.59% listing gain.
- Day 3 Subscription: The Prasol Chemicals IPO was subscribed 3.30 times on Sept. 10.
Prasol Chemicals IPO Key Details
- Issue Size: Rs 500.00 crore (Fresh Issue: Rs 80 crore | OFS: Rs 420.00 crore).
- Price Band: Rs 643 to Rs 676 per share.
- Minimum Lot Size: 22 shares (Minimum investment: Rs 14,872).
- Key Dates: Bidding closes Sept. 10 | Allotment date: Sept. 11 | Tentative listing date: Sept. 16 (BSE, NSE).
- Lead Manager & Registrar: Dam Capital Advisors Ltd. (Lead Manager) | Kfin Technologies Ltd. (Registrar).
Which IPO Offers the Highest Potential Gain Per Lot?
Kanohar Electricals leads in both total return percentage and absolute rupee profit per lot:
- Kanohar Electricals: Rs 5,405 per lot (Rs 235 GMP × 23 shares)
- Glass Wall Systems: Rs 3,690 per lot (Rs 45 GMP × 82 shares)
- Prasol Chemicals: Rs 88 per lot (Rs 4 GMP × 22 shares)
Important Timeline for Bidders
Disclaimer: Grey market premium (GMP) is an unofficial indicator and reflects unregulated trading sentiment. Investors should consult registered financial advisors and review red herring prospectus (RHP) details before making investment decisions.
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