JSW Cement & All Time Plastics IPOs: Day 3 Subscription Status and Grey Market Premium Recovery
This article provides a comprehensive update on the Day 3 subscription status for both JSW Cement IPO and All Time Plastics IPO. We will also delve into the latest movements in their Grey Market Premium (GMP), highlighting recent recoveries observed in both IPOs.
All Time Plastics IPO: Key Details and Timeline
The application window for the All Time Plastics IPO was open for three days: August 7th, August 8th, and concluded on August 11th. The company’s face value is ₹2 per share, with the upper price band set at ₹275. To secure an allotment, applicants needed to select a minimum of 54 equity shares at the upper price band. The required amount for applying to this IPO was ₹14,850.
For long-term investors, two important dates stand out: September 11th, which offers an opportunity to sell 50% of the 4,36,50,000 equity shares originally offered at a value between ₹119-120 crore. The next significant date to observe is November 10th. The allotment status for applicants who applied on August 7th, 8th, or 11th was expected on August 12th. Refunds for non-allotment were scheduled for August 13th, the same day shares were to be credited to Demat accounts. The company’s listing on both BSE and NSE was slated for August 14th.
All Time Plastics IPO: Day 3 Subscription Status
The All Time Plastics IPO demonstrated a positive response across all categories. The Qualified Institutional Buyers (QIB) category was subscribed approximately 10.30 times. This translates to bids for 2,99,29,000 equity shares against 29,70,000 shares offered, amounting to ₹823 crore.
In the High Net-worth Individuals (HNI) category, the IPO was subscribed roughly 13.98 times, with 3,47,20,000 equity shares bid against 21,28,000 shares offered, totaling ₹838 crore. Specifically, the Big HNI category saw a subscription of about 14.60 times, with 2,12,00,000 equity shares bid for 14,53,000 shares offered, valuing ₹583 crore. In this category, the chance of allotment was approximately one in three applications. The Small HNI category was subscribed around 12.74 times, with 9,25,70,000 equity shares bid for 7,26,000 shares offered, totaling ₹254 crore, with an allotment chance of one in ten applications.
Retail investors subscribed to the IPO approximately 5.26 times, bidding for 2,67,00,000 equity shares against 50,87,000 shares offered, amounting to ₹736 crore. Taking common retail application mistakes into account, the allotment chance for retailers was estimated at one in three applications. The Employee category was subscribed 7.64 times. Overall, the All Time Plastics IPO was subscribed 8.57 times, receiving bids for 8,74,00,000 equity shares against 1,02,00,000 shares offered, totaling ₹2404 crore.
All Time Plastics IPO: Grey Market Premium (GMP) Update
The Grey Market Premium (GMP) for All Time Plastics IPO showed a recovery. After an initial dip to ₹6, the GMP recovered to ₹8. This suggests a potential listing price of approximately ₹283, indicating a listing gain of about 3% or around ₹500 per lot.
JSW Cement IPO: Key Details and Timeline
The JSW Cement IPO also followed the same application schedule as All Time Plastics, with the application window open from August 7th to August 11th. The company’s face value is ₹10 per share. To secure an allotment, applicants at the upper price band of ₹147 needed to select a minimum of 102 equity shares. Due to oversubscription in the retail category, allotments were expected only at the cut-off price.
The total issue size for JSW Cement IPO was ₹3600 crore. Of this, 50% of shares were allocated to QIBs, 35% to retail investors, and 15% to the HNI category. The company is slated for listing on both BSE and NSE. The allotment status was expected on August 12th, with updates shared via Telegram. Refunds for non-allotment and share credit to Demat accounts were scheduled for August 13th. The listing date for JSW Cement IPO was also set for August 14th.
JSW Cement IPO: Day 3 Subscription Status
The JSW Cement IPO received a robust subscription response, particularly from Qualified Institutional Buyers (QIBs), who subscribed approximately 16.71 times. This category alone received bids for 81,86,50,26 equity shares against 4,89,69,000 shares offered, amounting to a substantial ₹12,000 crore, indicating a successful IPO from their perspective.
The combined HNI (Small & Big) category was subscribed roughly 11.58 times, with 42,54,00,000 equity shares bid against 3,67,00,000 shares offered, totaling ₹6254 crore. Within the Big HNI category, the subscription exceeded 13 times, with 32,53,00,000 equity shares bid against 2,44,00,000 shares offered, totaling ₹4782 crore. The chance of allotment for Big HNI applicants was approximately one in two applications. The Small HNI category was subscribed about 8.18 times, receiving bids for 10,00,00,000 equity shares against 1,22,00,000 shares offered, amounting to ₹1471 crore, with an allotment chance of one in seven applications.
Retail investors subscribed approximately 1.89 times, indicating a higher chance of allotment in this category, with roughly one in 1.25 applications receiving shares. Overall, the JSW Cement IPO was subscribed 8.20 times, receiving bids for 140,59,00,000 equity shares against 17,14,00,000 shares offered, totaling ₹2067 crore.
JSW Cement IPO: Grey Market Premium (GMP) Update
The Grey Market Premium (GMP) for JSW Cement IPO also showed a positive movement. After dropping to ₹2, the GMP has recovered to ₹5. This suggests a potential listing price of approximately ₹152, indicating a listing gain of about 5% or around ₹510 per lot.
Combined IPOs: Total Bids and Outlook
In total, both the JSW Cement and All Time Plastics IPOs combined garnered bids worth approximately ₹64,000 crore, reflecting a generally positive response from the market. This robust demand suggests that both IPOs have a reasonable chance of delivering listing gains, especially given the recent recovery in their Grey Market Premiums.
