News Mania Desk / Piyal Chatterjee / 11th December 2024
Three mainboard IPOs, One Mobikwik Systems, Vishal Mega Mart, and Sai Life Sciences, began bidding today, Wednesday, December 11. Mobikwik, a fintech player, witnessed a big offer in the first session of the day, while the other two made a quiet beginning. All three issues will close for bidding on Friday, December 13.Mobikwik’s offering was completely subscribed in one hour, thanks to robust bidding from retail investors, with their portion booked more than 11 times. The allocation for non-institutional investors (NIIs) was booked 2.5 times. According to BSE data, investors bid for 3,13,24,749 equity shares, or 2.64 times the 1,18,71,696 equity shares offered for bidding as of 12.20 p.m.
One Mobikwik Systems is selling its shares for Rs 265-279 each. Investors can apply for a minimum of 53 shares and multiples thereof. It plans to generate Rs 572 crore through an initial public offering (IPO) of up to 2,05,01,792 equity shares. Similarly, Vishal Mega Mart’s issue was 18% subscribed, whereas Sai Life Sciences’ primary offering was just 5% booked at the time. Retail and NIIs accounted for 25% of Vishal Mega Mart’s problem. The retail component of the Sai Life Sciences IPO was booked at 9%, while the NIIs allocation got 4% bids. The QIB section received no offers.
Vishal Mega Mart plans to raise a total of Rs 8,000 crore through an IPO by offering its shares at a price band of Rs 74-78 per share, with a lot size of 190 shares. The issuance is only an offer-for-sale (OFS) by the promoters. Sai Life Science is issuing its shares at a price range of Rs 522-549, with a lot size of Rs 27 shares, to raise Rs 3,042.6 crore. It comprises a fresh share sale at Rs 950 crore.The robust response to Mobikwik’s IPO follows its significant grey market premium (GMP), which is currently trading at Rs 135-140 per share, implying a 50% gain for investors. Similarly, Vishal Mega Mart wants a GMP of Rs 20 each.
