On August 4, Exxaro Tiles, Krsnaa Diagnostics Ltd., Devyani International Ltd., and Windlas Biotech Ltd. all launched their first offerings. The initial public offerings (IPOs) will end on August 6th.
Devyani International is one of four initial public offerings (IPOs) that began accepting subscriptions yesterday.
On the first day of sale, Devyani International’s IPO was fully subscribed in three hours of bidding. Retail investors led the bidding, with their stake of the Rs 1,838 crore IPO being oversubscribed inside the first hour.
Yum Brands’ largest franchisee in India, Devyani International, operates a chain of quick-service restaurants including KFC, Pizza Hut, and Taco Bell. The public offering is a combination of a new issue of equity shares and an offer for sale (OFS) by existing firm shareholders.
The issue has been oversubscribed by 11.07 times, with retail investors vying for 22.54 crore equity shares against 2.03 crore on offer.
On day one of the IPO, the non-institutional investors (NII) part was subscribed 0.67 times, with bids for 2.03 crore shares against 3.05 crore shares on offer. Qualified Institutional Buyers (QIB) subscribed 0.77 times their portion.
In comparison to the 6.11 crore shares on sale, QIBs have bid for 4.67 crore shares.
The employee portion of the issue was completely sold out, with bids pouring in at 1.54 times the amount reserved. The issue has been subscribed a total of 2.61 times.
Devyani International is set to float on the stock exchange on August 16, 2021.
Meanwhile, on August 4, Krsnaa Diagnostics launched its IPO, which garnered a favorable response from investors. At 17:00 IST on the first day of bidding, August 4, the issue had been subscribed a total of 1.98 times.
According to market statistics, Krsnaa Diagnostics received bids for 1.41 crore equity shares against an offer size of 71.12 lakh equity shares in its offering.
The number of shares available for purchase has been decreased from 1.27 crore to 71.12 lakh. This follows the receipt of Rs.537 crore from anchor investors on August 3, the day before the company’s initial public offering (IPO).
Exxaro Tiles Ltd. also launched its IPO on July 4th. The issue was 3.58 times subscribed as of 12:20 p.m. on Thursday. Retail Individual Investors (RIIs) have shown considerable interest in the issue, having subscribed 7.10 times as of the report’s submission. This issue has been subscribed 0.95 times by qualified institutional buyers (QIBs), and 0.52 times by non-institutional investors.
At the upper end of the pricing range, the tilemaker would offer 1.34 crore shares for Rs 118-120 each, aiming for a market value of Rs 537 crore.
According to the company’s red herring prospectus, the three-day IPO includes a fresh issue of Rs 134.23 crore and a Rs 26.85-crore offer for sale by Dixitkumar Patel, a non-promoter selling shareholder.
Windlas Biotech, a pharmaceutical formulations maker, launched its IPO yesterday, with a three-day subscription period ending on August 6. For the public offering, the price band has been set at $448-460 per share.
The IPO includes a new issuance of 165 crores in equity shares as well as a sale of up to 5,142,067 equity shares. On the first day of bidding, the issue was sold out.
On the second day of subscription, retail investors showed interest in Windlas Biotech Ltd.’s Rs 401.5-crore initial public offering. On the first day, the contract drugmaker’s issuance was subscribed 3.18 times.
Windlas Biotech had funded Rs 120.46 crore prior to the IPO by allotting over 26 lakh shares to 22 anchor investors at the top of the price range.
On August 4, Windlas Biotech, Exxaro Tiles Ltd., Krsnaa Diagnostics Ltd., and Devyani International Ltd. opened their IPOs. The initial public offerings (IPOs) will end on August 6th.
