IPO Update: Gem Aromatics, Patel Retail, Shriji Group, Vikram Solar Day 1 Subscription & GMP Analysis
Welcome to this comprehensive update on four upcoming IPOs: Gem Aromatics IPO, Patel Retail IPO, Shriji Group IPO, and Vikram Solar IPO. In this article, we will delve into their Day 1 subscription figures across all categories, analyze their Grey Market Premium (GMP) momentum, and discuss which IPOs warrant more focus for application in the coming days.
Key IPO Dates & Application Strategy
The application window for three of these IPOs opened on August 19th. The second day for application will be August 20th, and the final day to apply for these three IPOs is August 21st. If you are planning to apply for these IPOs and prefer a clearer picture before making your decision, it is advisable to assess the subscription figures by the end of Day 2 (August 20th) and plan your application accordingly.
Gem Aromatics IPO: Day 1 Subscription Details
On Day 1, Gem Aromatics IPO saw a positive response. Anchor investors were allocated 4,165,383 equity shares, totaling a value of approximately ₹135 crores.
The Qualified Institutional Buyers (QIB) category was fully subscribed, showing a subscription figure of 1.03 times. Bids worth approximately ₹92.5 crores were received in this category, indicating a good response from QIBs.
The High Net Worth Individual (HNI) category saw a subscription of 0.89 times, with bids worth around ₹60 crores. This response was not as strong initially. Within HNIs, the Big HNI category subscribed 0.68 times, while the Small HNI category performed better with a subscription of 1.32 times, attracting bids worth approximately ₹29 crores.
Retail investors subscribed 1.01 times. Overall, by the end of Day 1, the IPO was subscribed 1.03 times, attracting bids worth approximately ₹326 crores, leading to a full subscription. If this positive response continues on Day 2, investors should observe the Grey Market Premium (GMP) before finalizing their application strategy.
Shriji Group IPO: Day 1 Subscription Analysis
For Shriji Group IPO, anchor investors were allotted 489,400 equity shares, amounting to approximately ₹123 crores.
The QIB category subscribed 1.09 times, with bids totaling ₹89 crores. This reflects a decent initial response from institutional buyers.
The HNI category showed a strong response, subscribing 3.53 times overall, with bids reaching approximately ₹2170 crores. Separately, the Big HNI category was subscribed 3.76 times with bids worth ₹154 crores, and the Small HNI category subscribed 3.05 times with bids of approximately ₹62 crores.
Retail investors subscribed 2.12 times, with bids valued at around ₹304 crores. The total subscription for Shriji Group IPO by the end of Day 1 stood at 2.12 times, indicating a good overall response. Should this momentum in QIB continue, we will discuss allotment chances for various categories in upcoming updates.
Patel Retail IPO: Strong Day 1 Performance
For Patel Retail IPO, the cut-off price was ₹255, and applicants were required to select 58 equity shares per lot.
This IPO demonstrated the strongest subscription figures on Day 1, particularly in the QIB category, which was subscribed an impressive 9.86 times, attracting bids worth approximately ₹286 crores. If this momentum continues to reach 20-30 times subscription, the chances of allotment will be significantly low. To enhance your chances of allotment, consider applying one lot from each family member’s Demat account.
The HNI category subscribed 7.40 times, with bids valued at approximately ₹446 crores. Within this, the Big HNI category subscribed 7.35 times, and the Small HNI category subscribed 7 times. Retail investors showed a strong interest, subscribing 5 times. The Employee category also saw good participation, subscribing 3.26 times.
Overall, Patel Retail IPO was subscribed 6.40 times by the end of Day 1, with total bids amounting to approximately ₹1276 crores. Given this high subscription, maximizing your chances by applying through multiple Demat accounts is a recommended strategy.
Vikram Solar IPO: Day 1 Subscription Overview
Vikram Solar IPO saw anchor investors allocated shares worth approximately ₹620 crores.
The QIB category received very low bids, subscribing only 0.02 times on Day 1. A clearer picture for this category is expected by Day 3.
The HNI category, however, showed a stronger response, subscribing 3.99 times. The Big HNI category subscribed 3.90 times, and the Small HNI category subscribed 4.19 times. Retail investors subscribed 1.43 times.
Overall, the IPO was subscribed 1.06 times initially, later updated to approximately 1.57 times, attracting bids worth ₹2295 crores. This is considered a good response given the issue size of the IPO.
Overall Day 1 Subscription Ranking
Based on the Day 1 subscription figures, the ranking for these IPOs is as follows:
- Patel Retail IPO: Demonstrated the best response.
- Vikram Solar IPO: Showed a good response relative to its issue size.
- Shriji Group IPO: Ranked third in subscription figures.
- Gem Aromatics IPO: Ranked fourth.
Latest Grey Market Premium (GMP) Updates
Let’s look at the current Grey Market Premium (GMP) for these IPOs:
- Patel Retail IPO: The GMP is trading around ₹45, suggesting approximately an 18% listing gain. The estimated listing price is around ₹2610.
- Shriji Shipping IPO: The GMP is in the range of ₹25-₹30, indicating an 8-10% listing gain. The estimated listing price is around ₹140.
- Gem Aromatics IPO: The GMP stands at ₹28, hinting at an approximate 8.62% listing gain. The estimated listing price is around ₹353, potentially yielding a listing gain of approximately ₹1288 per lot.
- Vikram Solar IPO: The GMP is fluctuating between ₹4 and ₹54. This translates to an estimated listing gain of 14% to 17%, with a potential listing price range of ₹2000-₹2600. However, the GMP does not fully reflect the subscription response; investors should monitor morning GMP updates before making application decisions.
Conclusion & Next Steps
We will provide further updates, especially regarding morning GMP, in our next video to help you make informed decisions on applying for these IPOs. Stay connected for timely updates by subscribing to our channel. For immediate updates, you can also join our Telegram group via the link in the comments. Feel free to ask any questions in the comments section.
