Mainboard IPOs, SME listings to watch out for next week
What's the story
The primary market is witnessing a revival, with strong demand for the IPOs of CMR Green Technologies and Hexagon Nutrition. After a lull, the mainboard IPO segment is slowly coming back to life, providing investors with new opportunities. The upcoming week will see two new mainboard IPOs and five SME listings. Let's take a look.
Market response
Strong response to CMR Green Technologies, Hexagon Nutrition IPOs
The CMR Green Technologies IPO has closed its subscription process and is now awaiting allotment. Meanwhile, the Hexagon Nutrition IPO is in its second day of bidding after a strong response from investors on Day 1. The positive response to both issues indicates that investor interest in quality listings may be returning after a long period of low activity in the mainboard IPO segment.
Allotment process
CMR Green Technologies IPO subscribed over 127% so far
The ₹631 crore CMR Green Technologies IPO was subscribed 127.04 times by the end of bidding on Friday, according to BSE data. The issue received bids for over 292 crore equity shares against the 2.3 crore shares on offer. The public issue, priced at ₹182-192 per share, is entirely an Offer for Sale (OFS), meaning the proceeds will go to existing shareholders selling their stakes.
Upcoming dates
Tentative schedule for allotment
As per the tentative schedule, the allotment status of CMR Green Technologies IPO is likely to be finalized on June 8. Refunds for unsuccessful applicants and credit of shares to successful investors' demat accounts are likely on June 9. The company's shares are expected to debut on both BSE and NSE on June 10.
Investor response
Hexagon Nutrition IPO to remain open till June 9
The Hexagon Nutrition IPO has received a positive response from investors on Day 1 of bidding, getting fully subscribed within hours of launch on June 5. The ₹139 crore public issue received bids for 3.55 crore shares against the 2.16 crore shares on offer, translating into an overall subscription of 1.65 times on Day 1. The IPO will remain open for subscription till June 9 and is priced at ₹42-45 per equity share.