1193469 SIP myths you must know!

Even though sentiment is not very positive in secondary market,  the IPO market is buzzing.

Let’s look at the IPOs on main board.

Signatureglobal (India)

It will remain open from 20th September to 22nd September. Its price band is Rs 366 to Rs 385 per share. The company is looking to raise Rs 730 crore from IPO and out of it Rs 603 crore is fresh issue. On second day it got subscribed 79% by the time of writing this story. Its GMP is Rs 34 per share which implies listing at 8.83% premium. The shareholding of promoters will decline from 78.36% to 69.63% after IPO. The objective of IPO is debt repayment, giving funds to subsidiaries and also for inorganic growth.

Sai Silks.

The IPO will remain open from 20th Semptember to 22nd September. It’s price band is Rs 210 to Rs 222 per share. The company is looking to raise Rs 1,201 crore from IPO and out of it Rs 600 crore is fresh issue. On second day it got subscribed 29% by the time of writing this story. Its GMP is Rs 14 per share which implies listing at 6.31% premium. The shareholding of management will decline from 95.23% to 60.8% after IPO. The objective of IPO is capital expenditures and working capital requirement. The company is in the business of Ethnic Clothing wear.

EMS

This IPO opened today at a premium of 33.67%. It opened on NSE at a share price of Rs 282.05 per share. Its issue price was Rs 211 per share. IPO was subscribed a total of 76.21 times. Company raised a total of Rs 321.24 crore from IPO. Out of that Rs 146.24 crore was fresh issue.