New Delhi: The initial public offerings of Windlas Biotech, Exxaro Tiles, Krsnaa Diagnostics, and Devyani International were fully subscribed within hours of opening for subscription on Wednesday, helped by strong retail investors’ response.
Four initial public offerings (IPO) — Windlas Biotech, Exxaro Tiles, Krsnaa Diagnostics, and Devyani International — have opened for subscription from Wednesday.
This comes at a time when the equity market is witnessing a dream run, with the BSE benchmark crossing the 54,000-mark for the first time on Wednesday.
On the first day, Windlas Biotech’s IPO was subscribed 3.15 times, Exxaro Tiles 4.63 times, Krsnaa Diagnostics 1.98 times, and Devyani International, the largest franchisee of Pizza Hut, KFC, and Costa Coffee in India, 2.69 times.
Windlas Biotech’s IPO was subscribed 3.15 times on the first day, with the retail individual investors category receiving 6.12 times subscription.
The IPO received bids for 1,93,37,310 shares against 61,36,252 shares on offer, as per data with the NSE. The non-institutional investors’ category was subscribed 34 per cent.
Windlas Biotech, a manufacturer of pharmaceutical formulations, on Tuesday, said it has raised over Rs 120 crore from anchor investors.
The company’s initial public offer comprises a fresh issue of up to Rs 165 crore and an offer-for-sale of up to 51,42,067 equity shares.
The three-day offer is in a price range of Rs 448-460 per share. At the upper end of the price band, the initial share sale will fetch Rs 401.53 crore.
Windlas Biotech’s offer is being managed by SBI Capital Markets Limited, DAM Capital Advisors Limited, and IIFL Securities.
Meanwhile, Exxaro Tiles, a leading manufacturer of vitrified tiles, has raised Rs 23.68 crore from anchor investors on Tuesday.
The Rs 161.08-crore IPO received bids for 5,30,66,375 shares, against 1,14,50,675 shares on offer, translating into 4.63 times subscription, as per NSE data.
The portion meant for retail individual investors (RIIs) was subscribed 9.24 times and those for non-institutional investors 65 per cent. Exxaro Tiles qualified institutional buyers(QIBs) category was subscribed 95 per cent.
The initial public offer of Exxaro Tiles of 1,34,24,000 equity shares comprises a fresh issue of up to 1,11,86,000 equity shares and an offer for sale of up to 22,38,000 equity shares.
The price range for the IPO, which would conclude on Friday, is Rs 118-120 per share.
Pantomath Capital Advisors is the manager of the offer.
Meanwhile, Krsnaa Diagnostics and Devyani International’s public offering also witnessed oversubscription in the retail individual investors’ category.
Krsnaa Diagnostics Rs 1,213.3-crore offer has been subscribed 1.98 times.
The offer received bids for 1,40,63,685 shares against 71,12,099 shares on offer.
The retail individual investors’ category was subscribed 9.55 times and those for non-institutional investors 15 per cent. The QIB portion of Krsnaa Diagnostics was subscribed 48 per cent.
Krsnaa Diagnostics has raised Rs 537 crore from anchor investors.
The company’s initial public offer comprises a fresh issue of up to Rs 400 crore and an offer for sale of up to 85,25,520 equity shares.
The offer is in a price range of Rs 933-954 per share.
JM Financial, DAM Capital Advisors, Equirus Capital, and IIFL Securities are the managers of the offer.
Krsnaa Diagnostics provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory, and teleradiology services to public and private hospitals, medical colleges and community health centres pan-India.
Devyani International’s initial public offer has been subscribed 2.69 times.
The IPO received bids for 30,22,97,985 shares against 11,25,69,719 shares on offer.
The retail investors’ category was subscribed 11.35 times, while both qualified institutional buyers(QIBs) and non-institutional investors portion received 77 per cent subscriptions each.
Devyani International’s initial public offer comprises a fresh issue of up to Rs 440 crore and an offer for sale of up to 15,53,33,330 equity shares.
The offer comes in a price range of Rs 86-90 per share.
Devyani International on Wednesday said it has mobilised Rs 825 crore from anchor investors.
Devyani International is an associate company of RJ Corp, the largest bottling partner of food and beverages (F&B) major PepsiCo, and has interests in the Indian retail F&B sector.
The company is the largest franchisee of Yum Brands, operating core brands such as Pizza Hut, KFC, Costa Coffee besides its own brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar.
It currently operates 297 Pizza Hut stores, 264 KFC stores, and 44 Costa Coffee as on March 2021 in India. Also Read: Noida Authority reeking with corruption, in cahoots with Supertech: SC on Emerald Court case
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment Advisors Limited are the managers of the offer. Also Read: You can earn lakhs if you have THIS special 25 paise coin, check details