NSDL, Shri Lotus Developers, and M&B Engineering IPOs: Day 2 Subscription Status, GMP, and Allotment Chances
Hello everyone, this article provides a detailed look at the Day 2 subscription status of three mainboard IPOs: NSDL IPO, Shri Lotus Developers IPO, and M&B Engineering IPO. We will examine their subscription figures after the close of Day 2, analyze Grey Market Premium (GMP) trends, and discuss the likelihood of allotment based on HNI subscription numbers, helping you decide where to apply and in which category.
M&B Engineering IPO: Day 2 Subscription Analysis
The M&B Engineering IPO’s second day for applications was July 31st, with tomorrow being the last opportunity to apply. The company has a face value of ₹10 per share and an issue size of ₹650 crore. The cut-off price is set at ₹385, requiring a minimum application of 38 equity shares for one lot. The allocation structure reserves 10% for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). Notably, anchor investors were allocated 757,426 equity shares worth ₹291 crore before the IPO opened.
As of the end of Day 2, the QIB picture is not yet fully clear, and a decision on applying based on their response will likely be made on the final day. Currently, only ₹3 crore worth of bids have been received from QIBs against 50,49,351 equity shares offered. The HNI category has seen a subscription of 4.56 times, with Big HNI subscribed 3.48 times and Small HNI (which often includes higher retail participation) subscribed 6.72 times. Retail investors have significantly oversubscribed their portion at 10.16 times due to the limited 10% allocation. The employee category is subscribed 3.81 times. Overall, the IPO was subscribed 0.70 times on Day 1 and has reached 3.11 times by the end of Day 2. If this momentum continues tomorrow, the final subscription figures could be quite strong. The Grey Market Premium (GMP) for M&B Engineering IPO is currently ₹58, suggesting a potential listing gain of 15%, which could translate to approximately ₹24 per share.
Shri Lotus Developers IPO: Latest Subscription Trends
For Shri Lotus Developers IPO, the last day to apply is also tomorrow. To secure an allotment, applicants must select a minimum of 100 equity shares at the cut-off price of ₹150 per share for a single lot. By the end of Day 2, the QIB category has shown a strong response, subscribing 9.31 times, up from 5 times on Day 1, with bids worth ₹1041 crore. The HNI category has seen an impressive subscription of approximately 17 times, with Big HNI at 14 times and Small HNI at 23 times. Retail investors have subscribed 9.58 times, and the employee category is subscribed 8.46 times.
The total subscription for Shri Lotus Developers IPO stands at 11.10 times by the end of Day 2, significantly up from 3-4 times on Day 1, with total bids amounting to ₹6165 crore. Due to the high subscription, the chances of allotment for retail investors are relatively low, but Big HNI investors might have a better chance. The Grey Market Premium (GMP) for Shri Lotus Developers IPO is currently around ₹44, indicating a potential listing gain of 29%. This suggests a listing price of approximately ₹194 and a potential gain of around ₹4400 per lot.
NSDL IPO: Subscription Status and Allotment Insights
The NSDL IPO is also open for applications on Day 2. The cut-off price for this IPO is ₹800, with a minimum lot size of 18 equity shares. Despite being the largest issue size among the three, NSDL IPO has shown remarkable QIB response, subscribing 1.96 times by Day 2, a significant jump from 0.26 times on Day 1, with bids worth ₹1567 crore. The HNI category has been subscribed 11 times; specifically, Big HNI is subscribed 10 times, suggesting that there will be an allotment for approximately one out of every two applications in this segment. Small HNI is subscribed 12 times, indicating slightly lower allotment chances compared to Big HNI. Retail investors have subscribed 4.19 times, with bids amounting to ₹5874 crore. The employee category has seen a subscription of 7.69 times.
Overall, the NSDL IPO, which was not even fully subscribed on Day 1 at 0.84 times, has reached a total subscription of 5.04 times by the end of Day 2, with total bids valued at ₹14,149 crore. Allotment chances are highest for Big HNI, followed by the retail category. The Grey Market Premium (GMP) for NSDL IPO saw a notable shift, trading at ₹1435 in the morning but settling at ₹143. This implies a potential listing gain of 18%, translating to approximately ₹2500-₹3000 per lot, with a potential listing price of around ₹943.
IPO Recommendation: Listing Gain vs. Allotment Probability
Considering both listing gain potential and allotment probability, here’s a prioritized view:
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For Listing Gain:
- Shri Lotus Developers IPO (highest priority due to significant potential listing gain)
- NSDL IPO (second priority)
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For Allotment Probability:
- NSDL IPO (especially in the Big HNI category)
If you have sufficient funds, it’s advisable to add these IPOs to your watchlist and make an application decision tomorrow afternoon after reviewing the final subscription numbers. We will continue to provide daily updates on the Grey Market Premium for all three IPOs.
