IPO market buzzing on both main and SME boards

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Full-fledged action is taking place in the primary market. There are open IPOs on both mainboards as well as SME board.

So, let’s start with IPOs on the mainboard. First one is the Concord Biotech IPO. It is a pharma company that manufactures API that is fermentation-based. It has a price band of Rs 705-741 per share. It will remain open from 4th August to 8th August. The entire issue is an offer for sale. The promoters will offload a part of their holding for Rs 1,551. It has been subscribed 33%. It has a GMP of Rs 178 per share which implies listing at a premium of 24.02%.

Second one is the SBFC Finance IPO. It has a price band of Rs 54-Rs 57 per share. The IPO will remain open from 3rd August to 7th August. The company is looking to raise Rs 1,025 crore from IPO. Out of that Rs 600 crore is fresh issue and Rs 425 crore is OFS. The IPO is subscribed 4.43 times. Its GMP is currently Rs 40 per share which implies listing at 70.18% premium.

Now let’s move to the SME board. Two new IPOs have opened for subscription on the SME board.

First one is the Sangani Hospitals.  It has a price band of Rs 37 to Rs 40 per share. The IPO will be open from 4th August to 8th August. The company is looking to raise Rs 15.17 crore from IPO. The IPO is subscribed 38%. It is having GMP of just Rs 1 per share.

The second IPO is Yudiz Solutions IPO. It has a price band of Rs 162 to Rs 165 per share. The IPO will remain open for subscription from 4th August to 8th August. The company is looking to raise Rs 44.84 crore from the IPO. As per the latest figures, the company is subscribed 54%. Its GMP is Rs 20 per share which implies listing at a premium of 12.12%.

Third IPO on SME board Vinsys IT Services. It has been open since 1st August and today is the last day of subscription. The company is looking to raise Rs 49.84 crore and all of it is a fresh issue. The IPO is subscribed 84.66 times. Which shows a good response from investors. The grey market is also humming a similar tone as its GMP is Rs 60 per share which implies listing at a premium of close to 47%.