These companies will make market debut in India next week
What's the story
The primary market is gearing up for a quiet week, with no new initial public offerings (IPOs) scheduled in either the mainboard or SME segments. The focus will be on the listing of Central Mine Planning and Design Institute Ltd (CMPDI), a subsidiary of Coal India. Six companies, including three from the mainboard segment and three from the SME space, are all set to make their market debuts.
Company 1
CMPDI's ₹1,842cr IPO fully subscribed
CMPDI's IPO, worth ₹1,842 crore, was fully subscribed on the last day of bidding. By Day 3's end, it had received bids for over 8.36 crore shares against the 7.97 crore shares on offer. The issue was mainly subscribed by Qualified Institutional Buyers (QIBs) who booked it 3.48 times their quota while Retail Individual Investors (RIIs) showed muted interest at just 33%. Non-institutional investors (NII) also failed to fully book their quota with only a 35% subscription rate.
Company 2
What about Sai Parenteral?
Sai Parenteral's mainboard issue, which closed last Friday, is expected to make its market debut on Thursday. The GMP suggests a flat listing at ₹392. The issue was subscribed 1.05 times over three days with over 78.80 lakh shares bid against the available equity shares of 75,22,486 for booking. Non-institutional investors (NII) drove demand by subscribing to the issue 2.36 times, while Qualified Institutional Buyers (QIBs) booked it 1.71 times their quota with RIIs showing little interest.
Company 3, 4
Powerica and Amir Chand Jagdish Kumar Exports
Powerica's mainboard issue, which ended on Friday, is expected to debut this Thursday. The GMP suggests a muted listing at ₹395, implying a listing premium of around 1%. The company had planned to raise ₹1,100 crore through the issue which is a mix of an offer for sale (OFS) and issuance of fresh equity. Amir Chand Jagdish Kumar Exports' ₹440 crore IPO ended on Friday with a subscription rate of 3.41 times against the total shares on offer (1.89 crore).