Welcome to this comprehensive update on two significant Initial Public Offerings (IPOs) – Brigade Hotel Ventures IPO and Shanti Gold International IPO. In this article, we delve into the latest subscription figures, analyze the activities of Qualified Institutional Buyers (QIBs), explore the Grey Market Premium (GMP) for both, and discuss allotment probabilities across various investor categories.
Brigade Hotel Ventures IPO: Final Day Subscription Status and Listing Outlook
Today marked the final day for applying to the Brigade Hotel Ventures IPO. Despite expectations, the Qualified Institutional Buyer (QIB) category did not show as strong a response as anticipated.
The company has a face value of ₹10, and the price band was set at ₹90. Investors who applied for 166 equity shares (one lot) at the time of application will be considered for allotment through a lottery system. This is due to the limited 10% share reserved for the Retail category within the total issue size, leading to an oversubscribed IPO.
Detailed Subscription Figures for Brigade Hotel Ventures IPO (Final Day):
- Anchor Investor Allocation: Anchor investors were already offered 3,60,81,000 equity shares, valued at approximately ₹324-325 Crores, and these shares have been allocated.
- QIB Category: This category was subscribed 5.74 times. A total of 13.81 Crore equity shares were bid against 2.40 Crore shares offered, amounting to bids worth approximately ₹1243 Crores.
- HNI Category: The High Net-worth Individual (HNI) category saw a subscription of 2.03 times. Bids were received for 2.43 Crore equity shares against 1.20 Crore shares offered, totaling approximately ₹219 Crores.
- Big HNI: Subscribed 1.67 times, with bids amounting to approximately ₹121 Crores. If you applied in the Big HNI category, there is a 100% chance of allotment.
- Small HNI: Subscribed 2.74 times, with bids totaling approximately ₹98 Crores. Allotment chances are considered maximum in this category.
- Retail Category: This category was subscribed 6.81 times. Bids were for 5.45 Crore equity shares against 80,18,000 shares offered, totaling approximately ₹491 Crores. This means roughly one out of every six applications will receive an allotment.
- Employee Category: The employee portion was subscribed 0.99 times, with bids for 7 Crore shares against 8,73,000 shares offered.
- Shareholder Category: This segment was subscribed 1.74 times. With bids totaling approximately ₹52 Crores, there is a maximum chance of allotment for the applied lots in this category.
- Overall Subscription: The Brigade Hotel Ventures IPO concluded with an overall subscription of 4.63 times. Against 4.83 Crore equity shares offered, bids for 22.38 Crore equity shares were received, amounting to approximately ₹2014 Crores.
Listing Expectations and Grey Market Premium (GMP):
Given the subscription figures, significant listing gains are not highly expected from this IPO. The Grey Market Premium (GMP) was observed at ₹0. A positive listing for Brigade Hotel Ventures IPO would largely depend on favorable market conditions; otherwise, the company might list at a discount.
Shanti Gold International IPO: Day 2 Subscription Status and Future Prospects
The Shanti Gold International IPO commenced on July 25th (last week’s first day), with today, July 28th, marking the second day for applications. The final day to apply for this IPO is tomorrow, July 29th.
The company has a face value of ₹10, and the upper price band is set at ₹199. Investors need to apply for a minimum of 75 equity shares per lot. To secure an allotment, applications must be made at the cut-off price of ₹199.
Key Details and Allocation:
- Total Issue Size: ₹360 Crores.
- Category-wise Allocation: 50% for QIBs, 35% for Retailers, and 15% for HNIs.
- Anchor Investor Allocation: Anchor investors were already offered 5,42,800 shares, valued at ₹108 Crores, and these have been allocated.
Shanti Gold International IPO Day 2 Subscription Status:
- QIB Category: The QIB category’s full picture (positive or negative response) will likely become clear tomorrow between 12 PM and 2 PM. As of the end of Day 2, bids worth only approximately ₹3.5 Crores have been received for 1.74 Lakh equity shares against 36.19 Lakh equity shares offered. The complete response from QIBs is yet to be seen.
- HNI Category: This category has shown a strong response, being subscribed 7.44 times. Bids for 2.01 Crore equity shares were received against 2,74,000 shares offered, amounting to approximately ₹401 Crores.
- Big HNI: Subscribed 6.46 times. Bids for 1.16 Crore equity shares were received against 1,89,600 shares offered, totaling approximately ₹232 Crores. Allotment chances in the Big HNI category remain higher.
- Small HNI: This category was subscribed 9.38 times. Bids for 8.49 Lakh equity shares were received against 94,000 shares offered, totaling approximately ₹109 Crores. Allotment chances are lower here, with roughly one application out of eight likely to receive an allotment.
- Retail Category: The retail portion has been subscribed 6.57 times. Bids for 4.16 Crore equity shares were received against 6,33,000 shares offered, amounting to approximately ₹827 Crores.
- Overall Subscription (Day 2): The IPO has an overall subscription of 4.89 times. Against 1.26 Crore equity shares offered, bids for 6.19 Crore equity shares were received, amounting to approximately ₹1233 Crores. The response on Day 2 has been significantly better compared to Day 1, building good expectations for tomorrow’s final day.
Allotment Strategy and Grey Market Premium (GMP):
To increase your chances of allotment in the Shanti Gold International IPO, it is advisable to apply for one lot from each family member’s Demat account, especially since the Retail category is expected to be heavily oversubscribed.
As of July 28th, the Grey Market Premium (GMP) for Shanti Gold International IPO is ₹38. This indicates a potential listing gain of approximately 19%, with an estimated listing price of ₹237 and a projected gain of ₹2850 per lot.
We hope this information is useful for you. For more daily IPO and Grey Market Premium updates, consider subscribing for timely insights. Let us know in the comments if you plan to apply for this IPO or have already done so!
