Tata Technologies, Gandhar Oil Refinery, Indian Renewable Energy (IREDA), Fedbank Financial Services, and Flair Writing Industries IPOs garnered favorable responses from investors. The Tata Technologies IPO marked a significant triumph for the Tata Group, securing a robust 69.43 times subscription for the Rs 3,042.51-crore offering. This week witnessed a flurry of IPO activities, with five IPOs launching on the mainboard and one opening, one listing, and two closures in the SME sector. Tata Technologies led the pack with an impressive 69.43 times subscription. Other IPOs, including Gandhar Oil Refinery, IREDA, Fedbank Financial Services, and Flair Writing Industries, also received positive investor interest. In the SME domain, Sunrest Lifescience, Arrowhead Separation Engineering, Rockingdeals Circular Economy, and Swashthik Plascon captivated investor attention.
Mainboard IPOs
Tata Technologies IPO: A Triumph
The Tata Technologies IPO, valued at Rs 3,042.51 crore, witnessed a subscription of 69.43 times, with bids for 312.65 crore equity shares against an issue size of 4.5 crore. On the final bidding day, QIBs, HNIs, and retail investors displayed strong interest, subscribing 203.41 times, 62.11 times, and 16.50 times, respectively. Even Tata Technologies’ employees and Tata Motors’ shareholders were actively involved, subscribing 3.7 times and 29.2 times their allocated portions. The public issue, open from November 22 to November 24, had a price band of Rs 475-500 per share, resulting in a valuation of Rs 20,283 crore at the upper limit. Notably, the issue is comprised solely of an offer-for-sale (OFS) by the promoter and investors[1][4][6].
Indian Renewable Energy (IREDA)
The engagement with the Indian Renewable Energy (IREDA) offer reached 38.8 times during the period from November 21 to 23. Investors from various categories actively participated, acquiring a total of 1,827.25 crore equity shares, valued at Rs 58,472.07 crore at the upper price band, against an IPO size of 47.09 crore shares.
Qualified institutional buyers (QIB) demonstrated substantial engagement, subscribing 104.57 times their allotted quota. High net-worth individuals (HNIs) also showed active engagement, bidding 24.16 times, while retail investors engaged 7.73 times. Additionally, employees engaged by picking shares 9.8 times the allocated quota.
The Rs 2,150-crore public issue featured a blend of a fresh issue of Rs 1,290 crore worth of shares by the company and an offer-for-sale of Rs 860 crore by the government. The engaging price band for the offer was set at Rs 30-32 per share.
Gandhar Oil Refinery
The Gandhar Oil Refinery IPO witnessed impressive engagement, being subscribed 64.07 times on the final day of bidding, November 24. Bids were received for 136.1 crore shares against the available 2.12 crore shares. QIBs led the engagement, booking 129 times their share quota. Retail investors actively engaged, securing shares 28.95 times, and HNIs engaged 62.2 times.
The white oil manufacturer successfully raised Rs 500.69 crore through the public offer, consisting of a fresh issue of 1.78 crore shares worth Rs 302 crore and an offer-for-sale of 1.17 crore shares worth Rs 198.69 crore. The engaging price band was set at Rs 160-169 per share.
Fedbank Financial Services
Fedbank Financial Services IPO demonstrated notable engagement, reaching 2.2 times subscription on the final day, November 24. Investors bid for 12.3 crore shares against an issue size of 5.6 crore.
Retail investors engaged actively, subscribing 1.82 times their allotted quota, NIIs picked up shares 1.45 times, and QIBs showcased robust engagement, subscribing 3.51 times the allocated shares.
Fedbank successfully raised Rs 1,092.26 crore through the IPO, featuring a fresh issuance of 4.29 crore shares worth Rs 600.77 crore and an offer-for-sale (OFS) of 3.51 crore shares worth Rs 492.26 crore at the upper end of the engaging Rs 133-140 price band.
Flair Writing Industries
The public issue of Flair Writing Industries, valued at Rs 593 crore, witnessed extensive engagement, being subscribed 46.68 times on November 24, the final day of bidding. Bids were placed for 67.28 crore shares against an issue size of 1.44 crore.
Retail investors engaged significantly, subscribing 13.01 times, NIIs actively engaged with 33.37 times, and QIBs displayed remarkable engagement, subscribing 115.6 times their allotted quotas.
The engaging Flair Writing IPO comprised a fresh issue of 96.05 lakh shares worth Rs 292 crore and an offer-for-sale of 99.01 lakh shares worth Rs 301 crore. The price band set for the issue added to the engagement, is fixed at Rs 288-304 per share.
SME IPOs
Sunrest Lifescience
Sunrest Lifescience’s stock had a subdued entrance, debuting at the IPO price on November 20, opening at Rs 84 against the issue price of Rs 84 on the NSE SME platform. The IPO garnered a respectable level of engagement, being subscribed 48 times. Retail investors took center stage, showing active engagement with 65 times subscriptions, while NIIs secured 29 times their allocated quota.
The issue, which commenced on November 7 and concluded on November 9, featured a fixed price of Rs 84 per share. The IPO successfully raised Rs 10.85 crore.
Arrowhead Seperation Engineering
Arrowhead Seperation Engineering’s IPO witnessed engagement, reaching 31 times subscription on November 20, the final day of bidding. The retail segment demonstrated significant engagement, securing 54 times subscriptions, while NIIs engaged with 7.85 times their allotted quota. The issue, commencing on November 16, had a fixed price of Rs 233 per share, contributing to raising Rs 13 crore through the public offering.
Rockingdeals Circular Economy
Rockingdeals Circular Economy IPO experienced remarkable engagement, reaching a subscription of 213.64 times on the closing day, November 24. Retail investors actively engaged, subscribing 201.42 times, NIIs exhibited strong engagement with a subscription of 458.60 times, and the QIB portion was actively booked 47.38 times. The issue, valued at Rs 21 crore, had a price band set at Rs 136-140 per share.
Swashthik Plascon
Swashthik Plascon IPO saw a 47 percent engagement on the initial day of bidding, November 24. Retail investors actively participated with a 74 percent subscription, while NIIs secured 47 percent of their allocated portion. The issue, valued at Rs 40.76 crore, is set to close on November 29, with a fixed price band of Rs 80-86 per share.
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