On November 23, the bidding for Tata Technologies, Flair Writing Industries, Fedbank Financial Services, and Gandhar Oil Refinery initial public offerings began Day 2 of the primary market.
The final day of bidding for the Indian Renewable Energy Development Agency's (IREDA) public issue, which opened for subscription on November 21, has arrived. Except for one, all of these IPOs have already been oversubscribed, owing to huge investor interest fueled by favorable analyst comments.
The following is the most recent subscription update for the five issues:
Federal Reserve Bank Financial Services
Fedbank Financial Services IPO received 38 percent subscription on Day 1 with bids for 2.13 crore shares against the issue size of 5.6 crore. Retail investors purchased 67 percent of their quota of shares, NIIs purchased 21 percent, and QIBs are still warming up to the issue.
Oil Refinery of Gandhar
The Gandhar Oil Refinery IPO was subscribed to 5.52 times on the first day, with bids for 11.72 crore shares pouring in against 2.12 crore offered shares. NIIs booked 7.7 times their share quota, while retail investors booked 6.89 times. The QIB section has been subscribed to 1.35 times.
Flair Writing Industries
On the first day of bidding, the Flair Writing Industries IPO was subscribed to 2.17 times, with offers for 3.13 crore shares pouring in against the issue size of 1.44 crore. Retail investors purchased 2.86 times their quota, NIIs 2.78 times, and QIBs 0.53 times their quota.
IREDA
The IREDA IPO was subscribed 4.56 times, with investors bidding for 214.52 crore shares against a total offer size of 47.09 crore. NIIs have purchased 7.74 times their allocated quota, while ordinary investors have purchased 4.25 times. The QIB section has been subscribed 2.69 times.
Tata Technologies
The Tata Tech IPO was well greeted by investors, with the offer being fully subscribed within minutes of its opening on November 22. The offer was subscribed to 6.54 times, with investors purchasing 29.43 crore equity shares against a 4.5 crore offer size. Retail investors bid 5.42 times their quota of shares, while net-institutional investors (NIIs) bid 11.69 times and qualified institutional buyers (QIBs) bid 4.08 times.
