The primary market is witnessing strong activity as three mainboard initial public offerings (IPOs), namely, Symbiotec Pharmalab, Hy-Tech Engineers, and Skyways Air, opened for subscription simultaneously, collectively seeking to raise over Rs 2,475 crore.
Representing diverse sectors ranging from active pharmaceutical ingredients (APIs) and industrial component manufacturing to global air cargo and logistics, these offerings cater to a wide array of investment profiles.
Skyways Air vs Symbiotec Pharmalab vs Hy-Tech Engineers IPO GMP Compared
| IPO | GMP | Implied Listing Gain |
| Hy-Tech Engineers | Rs 25 | 47.17% |
| Symbiotec Pharmalab | Rs 409 | 41.40% |
| Skyways Air | Rs 32 | 23.19% |
Among the three IPOs, Hy-Tech Engineers currently has the highest implied listing gain at 47.17%, followed by Symbiotec Pharmalab at 41.40% and Skyways Air at 23.19%, based on GMP estimates as of 9:30 a.m. on Aug. 24.
The public issues of Symbiotec Pharmalab, Hy-Tech Engineers, and Skyways Air opened for subscription on Aug. 24 and will close on Aug. 27.
Investors are closely analysing subscription levels, market trends, and grey market premium figures for indications of initial trading behaviour.
Here is a detailed look at the latest GMP and key IPO details for each issue.
Skyways Air IPO GMP Today
Skyways Air IPO's latest grey market premium stands at Rs 32 at 9:30 a.m. on Aug. 24. Adding the Rs 32 GMP to the upper price band of Rs 138 gives an implied listing price of Rs 170. This translates into an implied listing gain of 23.19% over the upper issue price.
Skyways Air IPO Latest Subscription Status
The Skyways Air IPO was subscribed 0.13 times as of on Monday.
Skyways Air IPO Details
Skyways Air IPO is a book-built issue of Rs 582.80 crore. The issue comprises a fresh issue of Rs 398.80 crore and an OFS component of Rs 184 crore.
The share allotment process is expected to be finalised on Aug. 28, with tentative listing on the BSE and NSE on Sep. 1.
The issue price band has been set at Rs 131 to Rs 138 per share. The lot size for an application is 100 shares, requiring a minimum retail investment of Rs 13,800.
Holani Consultants Pvt. Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar.
Skyways Air Services is an air cargo and logistics services provider offering international freight forwarding and supply chain solutions.
Symbiotec Pharmalab IPO GMP Today
Symbiotec Pharmalab IPO's latest grey market premium stands at Rs 409 as of Aug. 24 at 9:30 a.m. Adding the Rs 409 GMP to the upper price band of Rs 988 gives an implied listing price of Rs 1,397. This translates into an implied listing gain of 41.40% over the upper issue price.
Symbiotec Pharmalab IPO Latest Subscription Status
The Symbiotec Pharmalab IPO was subscribed 0.06 times as of on Monday.
Symbiotec Pharmalab IPO Details
A book-built issue of Rs 1,757 crore, this issue comprises a fresh issue worth Rs 150 crore and an offer-for-sale (OFS) of Rs 1,607 crore. Share allotment is expected to be finalised on Aug. 28, with listing scheduled on the BSE and NSE on Sep. 1.
The issue price band is set at Rs 938–Rs 988 per share. Each application lot consists of 15 shares, requiring retail investors to bid a minimum amount of Rs 14,820 (based on the upper price band).
JM Financial Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
Symbiotec Pharmalab is an active pharmaceutical ingredients (API) manufacturing company specialising in steroid and hormone products for global healthcare markets.
Hy-Tech Engineers IPO GMP Today
Hy-Tech Engineers shares were commanding a grey market premium of Rs 25 as of Aug. 24 at 9:30 a.m. The IPO has set its upper price band at Rs 53 a share, taking the implied listing value to Rs 78 when the latest GMP is added. The calculation points to a 47.17% listing upside from the upper issue price.
Hy-Tech Engineers IPO Latest Subscription Status
The Hy-Tech Engineers IPO was subscribed 0.54 times as of on Monday.
Hy-Tech Engineers IPO Details
Hy-Tech Engineers IPO is a mainboard issue of Rs 135.73 crore. The issue comprises a fresh issue of Rs 60 crore and an OFS component of Rs 75.73 crore.
The share allotment process is expected to be finalised on Aug. 28, with tentative listing on the BSE and NSE on Sep. 1.
The issue price band has been set at Rs 50 to Rs 53 per share. Lot size for an application is 283 shares, requiring a minimum retail investment of Rs 14,999.
New Berry Capitals Pvt. Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar.
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Hy-Tech Engineers manufactures and supplies hydraulic fittings, engineering machinery, and industrial components.
Symbiotec Pharmalab vs Hy-Tech Engineers vs Skyways Air IPO GMP — Which Is Better?
Hy-Tech Engineers IPO leads the three issues both in implied percentage listing gain and estimated rupee gain per retail lot. With a grey market premium of Rs 25 over an upper price band of Rs 53, it points to a potential listing upside of 47.17%. Owing to its larger lot size of 283 shares, this translates to an estimated profit of Rs 7,075 per retail application lot (Rs 25 × 283).
Symbiotec Pharmalab IPO follows closely in percentage terms with an expected listing gain of 41.40% based on a GMP of Rs 409 over its upper price band of Rs 988. Given its lot size of 15 shares, it offers an estimated absolute return of Rs 6,135 per retail lot.
Skyways Air IPO ranks third among the three offerings, featuring a GMP of Rs 32 over an upper price band of Rs 138, translating into an estimated listing upside of 23.19% and an expected return of Rs 3,200 per lot (100 shares).
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.
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