Cash News
There were reports that Ather Energy – one of the leading electric two-wheeler makers in India – has filed for a Rs 4,500-crore IPO. The day also saw the Rs 170-crore IPO for Shree Tirupati Balajee Agro Trading closing after being subscribed 127 times.
Data on BSE showed that in the Bajaj Housing Finance offer, high networth investors were the most active, with the portion reserved for this group subscribed nearly 4.5 times.The portion reserved for shareholders of Bajaj Finance and Bajaj Finserv was subscribed over two times while the retail part was subscribed 1.5 times. While institutional investors in most IPOs apply on the last day of the offer, the Bajaj Housing Finance offer seems to be an exception: On day 1 itself, the institutional part was subscribed 1.1 times. The offer will close on Wednesday.
In the current week, 16 IPOs are lined up to tap into investors’ funds.
On Monday, it was reported that Ather Energy has filed papers with Sebi for an IPO worth about Rs 4,500-crore. This could value the company – in which two-wheeler major Hero MotoCorp holds about 37% – at about Rs 21,000 crore. Last month, Ola Electric Mobilityanother leading electric two-wheeler company, had listed through an IPO worth Rs 6,145 crore. The day also saw Shree Tirupati Balajee Agro Trading, a company that caters to various manufacturers for their bulk packaging needs, generate demand worth about Rs 14,700 crore (excluding the anchor investor portion) for an offer of Rs 170 crore.
Early on Monday, Gala Precision Engineeringwhich last week closed its Rs 168-crore IPO with a subscription figure of over 200 times, listed at a 42% premium. Compared to its offer price of Rs 529 per share, the shares listed at Rs 750 on BSE and closed at Rs 787.