This article provides a comprehensive overview of the Day 1 subscription status for two significant Initial Public Offerings (IPOs): JSW Cement IPO and All Time Plastic IPO. We will delve into their subscription figures, Grey Market Premium (GMP), and the reasons behind their current performance as of the first day of application.
All Time Plastic IPO: Day 1 Subscription Analysis
The All Time Plastic IPO opened for subscription today, marking its first day of application, which has now concluded. The second day for applications will be tomorrow, with the final day set for August 11th, taking into account the intervening Saturday and Sunday.
Key IPO Details for All Time Plastic
The company’s shares have a face value of ₹2, with the price band set at a cutoff price of ₹275. To secure an allotment, applicants must select a minimum of 54 equity shares per lot at this cutoff price. Applying at a lower price band is unlikely to result in an allotment. Eligible employees receive a ₹26 discount on the cutoff price, making their effective application price ₹249. The total issue size for All Time Plastic IPO stands at ₹400 crore. Out of this, ₹280 crore constitutes a fresh issue, with the funds directly going to the company, while the remaining ₹120 crore is an Offer for Sale (OFS) where existing shareholders and promoters are divesting their stakes. Shares will be listed on both BSE and NSE. The allocation breakdown is 50% for Qualified Institutional Buyers (QIBs), 35% for Retail investors, and 15% for High Net-worth Individuals (HNIs). Anchor investors were offered 4,36,50,2 equity shares, with allocations made up to ₹120 crore.
Day 1 Subscription Breakdown for All Time Plastic
The first day saw a subdued response, particularly from QIBs. This is partly attributed to the upcoming Friday, followed by a weekend (Saturday and Sunday), with the full picture from QIBs expected to emerge between 12 PM and 2 PM on the last application day. So far, QIBs have placed bids for 2,268 equity shares against 2,92,73 equity shares offered.
In the HNI category, the IPO was subscribed 0.34 times, with bids worth approximately ₹20.5 crore received for 74,230 equity shares. The bHNI category saw a subscription of 0.56 times, attracting bids worth ₹11 crore for 47,336,76 equity shares against 7,26,751 offered. Small HNIs (sHNI) subscribed 0.23 times. Retail investors, for whom 35% of the total issue size is reserved, subscribed 0.58 times, with bids of approximately ₹81 crore for 29,42,000 equity shares against 50,87,000 offered. The employee category, however, showed a stronger interest, being subscribed 1.87 times, with bids totaling approximately ₹2 crore. Overall, the IPO was subscribed only 0.37 times on Day 1.
All Time Plastic IPO: Grey Market Premium (GMP) & Listing Outlook
Given the current subscription figures, the chances of allotment are present. The Grey Market Premium (GMP) for All Time Plastic IPO is currently trading around 9%. This translates to a potential listing gain of approximately ₹1500 per lot. A stronger subscription response on the second and third days will significantly improve the chances of better listing gains.
JSW Cement IPO: Day 1 Subscription Analysis
The JSW Cement IPO also commenced on August 7th, with its first application day now concluded. Tomorrow marks the second day for applications, and the final decision to apply, especially regarding QIB response, is planned for August 11th.
Key IPO Details for JSW Cement
The shares in the JSW Cement IPO have a face value of ₹10, with a cutoff price set at ₹147. To receive an allotment through the lottery system, applicants must select 102 equity shares per lot at this cutoff price. JSW Cement’s IPO is characterized by a larger issue size, totaling ₹3600 crore. This comprises a fresh issue of ₹1600 crore, funds from which will go to the company, and an Offer for Sale (OFS) of ₹2000 crore, where existing shareholders and promoters are selling their stake. The allocation structure is 50% for QIBs, 35% for Retail investors, and 15% for HNIs. Anchor investors were offered 7,34,69,386 equity shares, with allocations made up to ₹1080 crore.
Day 1 Subscription Breakdown for JSW Cement
On its first day, the JSW Cement IPO saw QIBs subscribe 0.24 times. Bids totaling ₹172 crore were received for 1,17,10,518 equity shares against 4,89,00,000 offered. The initial QIB response, subscribing 0.25 times, is considered a positive indication. If this momentum continues and QIB subscription reaches 0.8 times or becomes fully subscribed by tomorrow, the chances of a strong overall subscription will increase significantly.
The HNI category subscribed 0.21 times, attracting bids worth ₹114 crore for 77,61,000 equity shares against 3,67,00,000 offered. Within HNIs, the bHNI category was subscribed 0.14 times, with bids of approximately ₹50 crore for 33,65,000 equity shares against 2,44,00,000 offered. The sHNI category saw a subscription of 0.36 times, attracting bids worth ₹64 crore for 43,98,000 equity shares against 1,22,00,000 offered. Retail investors subscribed 0.38 times, placing bids worth approximately ₹480 crore for 3,26,00,000 equity shares against 8,57,00,000 offered. In total, the JSW Cement IPO was subscribed 0.30 times on Day 1, indicating approximately 30% subscription.
JSW Cement IPO: Grey Market Premium (GMP) & Listing Outlook
The Grey Market Premium (GMP) for JSW Cement IPO is currently at ₹9. Based on this, the expected listing price comes out to ₹156, indicating a potential listing gain of approximately 6% per lot, translating to roughly ₹918 per lot.
Why the Lower Subscription on Day 1?
Both JSW Cement IPO and All Time Plastic IPO have not been fully subscribed on their first day. The primary reasons attributed to this include the large issue sizes of both IPOs and the upcoming weekend (Saturday and Sunday), which often leads to investors waiting until the last day to apply. The direction of the market in the coming days will also be an important factor influencing final subscription decisions. Final decisions regarding both IPOs will largely be made tomorrow; if the full picture is still unclear, further decisions will be taken on the third day of application.
