This article provides an in-depth look at the Day 1 subscription status for both the Aditya Infotech IPO and the Laxmi India Finance IPO. Both initial public offerings commenced their application period today. We will analyze the Day 1 subscription figures, the latest Grey Market Premium (GMP) for each, and discuss which IPO is showing the potential for a stronger response in the coming days.
For regular updates on IPOs and their Grey Market Premiums, stay tuned.
Laxmi India Finance IPO: First Day Response Overview
The Laxmi India Finance IPO opened for subscription on July 29th. Tomorrow, July 30th, will be the second day for applications, and July 31st will be the final day. Let’s examine its Day 1 performance.
Key Details of Laxmi India Finance IPO
The company has a Face Value of ₹5 per share. The Upper Price Band for the IPO is set at ₹158. Investors are required to apply for a minimum of 94 equity shares.
Category-Wise Subscription for Laxmi India Finance IPO
On Day 1, the overall response was modest.
- Qualified Institutional Buyers (QIBs): This category saw a subscription of 0.10 times, with bids received for 3,17,000 equity shares against 31,86,000 equity shares offered. Generally, QIB response tends to pick up on Day 3.
- High Net-worth Individuals (HNIs): The HNI category was subscribed 0.19 times, with bids for 4,62,856 equity shares against 23,89,690 equity shares offered, totaling approximately ₹7 crore in bids.
- Big HNI: Subscribed 0.10 times.
- Small HNI: Subscribed 0.38 times.
- Retail Investors: This category witnessed the highest subscription on Day 1, reaching 0.61 times. The relatively small issue size of the company is contributing to a higher number of applications from retail investors. However, the final oversubscription in the retail category will largely depend on the QIB and HNI responses on subsequent days.
- Employee Category: Subscribed 0.41 times.
- Total Subscription: The IPO achieved a total subscription of 0.37 times, with bids amounting to ₹67 crore. The initial response, considering the small issue size, has not been exceptionally strong. Investors are advised to observe the Day 2 response before making a final decision to apply on Day 3.
Aditya Infotech IPO: Strong Day 1 Performance
The Aditya Infotech IPO also opened for applications today. Tomorrow, July 30th, will be the second day, and July 31st marks the final day for subscription. We will discuss the details for allotment chances and strategies in tomorrow’s video.
Key Details of Aditya Infotech IPO
The Upper Price Band for the Aditya Infotech IPO is ₹675. To secure an allotment, applicants should select this upper price band. A minimum of 22 equity shares (one lot) must be applied for. The total Issue Size for this IPO is ₹1300 crore.
Anchor Investor Allocation for Aditya Infotech IPO
Prior to the IPO opening, 86,26,600 equity shares, valued at ₹582 crore, were already allocated to Anchor Investors.
Category-Wise Subscription for Aditya Infotech IPO
The Day 1 response for Aditya Infotech IPO has been quite positive.
- Qualified Institutional Buyers (QIBs): The QIB category saw a subscription of 0.01 times. Bids were placed for 7,970 equity shares against 57,51,000 equity shares offered, totaling approximately ₹5.5 crore. This initial response is neither strongly positive nor negative for Day 1.
- High Net-worth Individuals (HNIs): This category showed a remarkably strong response, being subscribed 3.33 times. Bids for 95,76,000 equity shares were received against 28,75,000 equity shares offered, amounting to ₹646 crore. This is the best response among the larger investor categories.
- Big HNI: Subscribed 2.80 times, with bids for 5,38,000 equity shares against 1,97,000 equity shares offered (worth ₹381 crore). This category may offer the highest chance of allotment for those with substantial funds.
- Small HNI: Subscribed 4.40 times, with bids for 4,27,980 equity shares against 9,58,519 equity shares offered (worth ₹284 crore).
- Retail Investors: The retail category was significantly oversubscribed at 6.93 times, with bids totaling ₹896 crore. Given the high oversubscription and the fact that only 10% of the total issue size is allocated to retail investors, applying from multiple family DEMAT accounts is advised to increase the chances of allotment.
- Employee Category: Subscribed 1.57 times.
- Total Subscription: Overall, the Aditya Infotech IPO was subscribed 2.17 times on Day 1. Bids were received for 2,30,00,000 equity shares against 1,06,00,000 equity shares offered, totaling bids worth ₹1558 crore. This is considered a very good response.
Grey Market Premium (GMP) & Listing Gain Expectations
Let’s look at the current Grey Market Premium for both IPOs:
- Laxmi India Finance IPO: The Grey Market Premium is trading around ₹97, indicating a potential listing gain of approximately 4-5%.
- Aditya Infotech IPO: The Grey Market Premium for Aditya Infotech IPO, which was ₹255 in the morning, has now risen to ₹273. Based on the upper price band of ₹675, the estimated listing price would be ₹675 + ₹273 = ₹948. This suggests a potential listing gain of approximately 40%. The estimated listing gain per lot is currently around ₹6,000.
Which IPO Shows Stronger Potential?
Considering the Grey Market Premium and the strong Day 1 subscription figures, especially in the HNI and Retail categories, the Aditya Infotech IPO appears to be the first priority for investors looking for listing gains.
Feel free to comment below with your queries or which of these IPOs you are planning to apply for.
