Market gives a thumbs up to new listings
Today 3 IPOs are listed, one on the main board and 2 on SME boards. All three of them have 1 thing in common. They got listed at a good premium. So let's have a look at them.
IPOs are getting listed in the market and filling the investor’s pocket with money as well as joy. Today three IPOs were listed, one on the main board and two on SME boards. All three of them have one thing in common. They got listed at a good premium. So let’s have a look at them.
Utkarsh Small Finance Bank
The stock got listed on NSE at a price of Rs 40 per share with a premium of 60%. The IPO has an issue price of Rs 25 per share. Even during the bidding process, the response was quite good as it got subscribed more than 110 times. The company raised a total of Rs 500 crore from IPO. Its promoter holding after the IPO has reduced from 84.75% to 69.28%. The company’s financials also improved in recent times as its profit in the last three years has increased at a CAGR of 29.39%.
Drone Destination
The stock belongs to the SME segment and it got listed on NSE at a premium of 65.3%. Its issue price was Rs 65 per share. During the subscription period, it was subscribed 191.65 times. The company raised a total of Rs 44.2 crore from IPO. After the IPO, the shareholding of the promoter has fallen from 85.14% to 62.31%.
Ahasolar Technologies
The share opened on BSE at Rs 203 per share. Its issue price was Rs 157 per share. This implies it opened at a premium of 29.29%. When it was open for subscription. It got subscribed 34.79 times. The company raised a total of 12.85 crore rupees from the IPO. Post issue, promoter holding has fallen from 50.31% to 36.95%. In the last 3 years, it had massive growth as its profit has increased at a CAGR of 340.04%. In FY20 its Profit after tax was Rs 2.07 lakh and in FY23 its profit was 1.76 crore.
Published: July 21, 2023, 15:14 IST
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