Sunil Shankar Matkar
July 12, 2024 / 07:06 PM IST
Initial public offerings
The initial public offerings of all four companies – Aelea Commodities, Sati Poly Plast, Prizor Viztech, and Three M Paper Boards have received healthy response from investors, getting full subscription on July 12, the first day of bidding.
All the four companies will close their public issues on July 16.
The Rs 51-crore IPO of the agricultural products trader was subscribed 4.65 times with retail investors and non-institutional investors (high networth individuals-HNIs) buying 8.08 times and 3.34 times the allotted quotas. However, the qualified institutional buyers (QIBs) have not participated in the issue yet.
The public issue of Aelea Commodities, which consists solely of a fresh issue of 53.68 lakh equity shares, will remain open for two more days. The price band for the book built issue is Rs 91-95 per share.
The company is involved in processing and trading cashews, and trades in sugar, pulses, soybean, rice, and wheat flour as well.
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Aelea had already raised Rs 14.52 crore from five anchor investors at the upper price band, on July 11, a day before the IPO opening. It will utilise net fresh issue proceeds mainly for setting up a new manufacturing unit, and purchasing plant and machinery for its existing manufacturing unit.
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The recycled paper-based duplex board products manufacturer’s maiden public issue was subscribed 7.46 times on the debut day, with it getting 13,197 applications so far. Retail investors remained at the leading position, buying 12.98 times the portion set aside for them, followed by HNIs who picked 5.28 times the reserved portion. However, QIBs are yet to show interest.
The Mumbai-based company aims to raise Rs 39.83 crore through its IPO of 57.72 lakh equity shares at the upper end of the price band of Rs 67-69 per share. The funds will be spent on installing new machinery, modernisation of certain processes under existing manufacturing facility and installation of plastic-fired low pressure boiler. Further, the fresh issue money will also be utilised for long-term working capital requirements, repaying debts, and general corporate purposes.
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Three M Paper supplies products for packaging to several industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods.
The IPO by the packaging materials maker has garnered the maximum subscription among these four companies, subscribing 20 times. Retail investors took the lead amongst participants, picking 36.87 times the portion set aside for them, and HNIs 14.7 times the allotted quota, while there has been no activity at the QIBs desk so far.
Sati Poly, based in Bihar, intends to mop up Rs 17.36 crore via public issue of 13.35 lakh equity shares. The price band has been set at Rs 123-130 per share.
Anchor investors, which are part of QIBs, on July 11, provided Rs 4.92 crore funding to the company, as they bought 3.79 lakh equity shares at a price of Rs 130 per share.
The company will utilise IPO funds mainly for working capital requirements, and the remainder for general corporate purposes.
The Rs 25.15-crore initial public offering of the security and surveillance solutions provider was booked 12.34 times, backed by retail and HNIs with no activity at the QIBs desk.
Retail investors picked 23.24 times the allotted quota, and HNIs bought 8.32 times the portion set aside for them.
The Ahmedabad-based company’s IPO consists solely of a fresh issue of 28.91 lakh equity shares, with a price band of Rs 82-87 per share. It already mobilised Rs 7.08 crore via anchor book on July 11, wherein participation was seen from four investors.
The funds will be utilised for setting up a display centre and inventory storage in Ahmedabad, working capital requirements, and general corporate purposes.