This article provides a detailed look at the Day 3 subscription status for four main board IPOs: Gem Aromatics IPO, Shreeji Group IPO, Patel Retail IPO, and Vikram Solar IPO. Today marked the final day to apply for these IPOs, and we will discuss their subscription figures, potential for listing gains, and Grey Market Premium (GMP).
Common Application Dates
All four IPOs shared similar application dates. They opened for subscription on August 19th, with August 20th being the second day. The final day for applying to these IPOs was today, August 21st. The subscription figures discussed below reflect the status after 5 PM on the closing day.
Gem Aromatics IPO: Final Subscription Status & Listing Outlook
The Gem Aromatics IPO saw a good response on its final day of subscription. The Qualified Institutional Buyers (QIB) category was subscribed approximately 7.54 times, with bids for 14.92 crore equity shares against 2.76 lakh shares offered, totaling bids worth around ₹4851 crore.
The Non-Institutional Investors (HNI) category was subscribed roughly 45.96 times, with bids for 9.57 crore equity shares against 20.86 lakh shares offered, amounting to bids worth approximately ₹3110 crore. Within the HNI segment, the Big HNI category was subscribed around 48 times, suggesting an allotment ratio of one application out of nine. The Small HNI category saw subscription of approximately 44.91 times.
Retail investors subscribed to the IPO about 11 times. For retail applicants, the allotment chance is approximately one application out of seven. Overall, the Gem Aromatics IPO was subscribed over 30.73 times on the third day, attracting bids worth around ₹9619 crore.
Regarding listing potential, the Grey Market Premium (GMP) suggests a listing gain of about 8.5%. The actual listing gain will be influenced by prevailing market conditions.
Shreeji Shipping Global IPO: Day 3 Subscription Analysis
The Shreeji Shipping Global IPO also closed today for applications. The QIB category demonstrated an impressive response, being subscribed over 110 times. Bids were placed for 35.99 crore equity shares against an offer of 32.59 lakh shares, amounting to approximately ₹969 crore.
The HNI category was subscribed about 72.70 times, with bids for 17.77 crore equity shares against 24.40 lakh shares offered, totaling bids worth around ₹4478 crore. The Big HNI category was subscribed roughly 73 times, with an allotment chance of one application out of fourteen. The Small HNI category was subscribed approximately 72 times, with an allotment chance of one application out of sixty-five.
The Retail category saw a subscription of around 22 times, with an allotment chance of one application out of seventeen. In total, the Shreeji Shipping Global IPO was subscribed 58 times, with bids worth approximately ₹1699 crore against an offer of 1.14 crore equity shares. The strong response from QIBs indicates a good potential for listing gains in this IPO.
Patel Retail IPO: Overwhelming Demand on Final Day
The Patel Retail IPO witnessed the highest overall subscription among the four IPOs discussed. The QIB category was subscribed an astounding 272 times, with bids worth approximately ₹7893 crore.
The HNI category was subscribed approximately 108 times. The Big HNI segment saw a subscription of about 102 times, with an allotment chance of one application out of twenty. The Small HNI category was subscribed roughly 120 times, with an allotment chance of one application out of one hundred and eight.
Retail investors subscribed to the IPO about 42 times, with an allotment chance of one application out of thirty-six. The Employee category was subscribed approximately 25.29 times. In total, the Patel Retail IPO was subscribed 95.69 times, attracting bids worth over ₹19000 crore.
The excellent response and positive Grey Market Premium suggest a high chance of good listing gains for this IPO.
Vikram Solar IPO: Subscription Figures and Allotment Ratios
The Vikram Solar IPO, which opened on August 19th, closed for applications on August 21st. The company’s shares had a face value of ₹10, with the upper price band set at ₹332. Investors needed to select 45 equity shares per lot when applying.
The QIB category received an overwhelming response, being subscribed about 145 times. Bids were placed for 180.88 crore equity shares against 1.24 crore shares offered, totaling approximately ₹6052 crore.
The HNI category was subscribed approximately 53 times, with bids for 49.43 crore equity shares against 93.49 lakh shares offered, amounting to bids worth around ₹1641 crore. Within HNI, the Big HNI category was subscribed 59.58 times, with an allotment chance of one application out of eleven. The Small HNI category was subscribed approximately 39.46 times (or around 40 times), with an allotment chance of one application out of thirty-five.
Retail investors subscribed to the IPO about 8 times, with an allotment chance of one application out of five. The Employee category was subscribed around 5 times. Overall, the Vikram Solar IPO was subscribed 56.42 times, attracting bids worth approximately ₹82,000 crore. The strong demand for this IPO indicates a very good potential for listing gains.
Overview of Grey Market Premium (GMP) for All Four IPOs
As of the closing day, the Grey Market Premium (GMP) for these IPOs stands as follows:
- Gem Aromatics IPO: Trading at an 8% premium.
- Shreeji Group IPO: Trading at a 15% premium.
- Patel Retail IPO: Trading at a 19% premium.
- Vikram Solar IPO: Trading at a 16% premium.
Conclusion
Based on the robust subscription figures, especially in the QIB and HNI categories for Shreeji Group, Patel Retail, and Vikram Solar IPOs, these issues show strong potential for healthy listing gains. Gem Aromatics IPO’s listing performance will be more influenced by prevailing market conditions. Investors who received allotments in Patel Retail, Shreeji Group, and Vikram Solar IPOs can anticipate favorable listing gains.
