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The initial public offerings of Windlas Biotech and Exxaro Tiles were fully subscribed within hours of opening for subscription on Wednesday, helped by encouraging 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 touching the 54,000-mark for the first time on Wednesday.
Windlas Biotech
Windlas Biotech’s IPO was subscribed 1.20 times, with the retail individual investors category receiving 2.36 times subscription.
The IPO received bids for 73,89,420 shares against 61,36,252 shares on offer, as per latest data with the NSE. Non-institutional investors category was subscribed 6 per cent.
Windlas Biotech, a manufacturer of pharmaceutical formulations, on Tuesday said it has raised over ₹120 crore from anchor investors.
The company’s initial public offer comprises a fresh issue of up to ₹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 ₹448-460 per share. At the upper end of the price band, the initial share sale will fetch ₹401.53 crore.
Windlas Biotech offer is being managed by SBI Capital Markets, DAM Capital Advisors and IIFL Securities.
Exxaro Tiles
Meanwhile, Exxaro Tiles, a leading manufacturer of vitrified tiles, has raised ₹23.68 crore from anchor investors on Tuesday.
The ₹161.08-crore IPO received bids for 2,17,94,625 shares, against 1,14,50,675 shares on offer, translating into 1.90 times subscription, as per NSE data till 1225 hours.
The portion meant for retail individual investors (RIIs) was subscribed 3.61 times and those for non-institutional investors 14 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 ₹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 retail individual investors category.
Krsnaa Diagnostics offer has been subscribed 72 per cent so far and Devyani International has been subscribed 95 per cent.
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