Shares of Vishal Nirmiti debuted at Rs 215 apiece today, October 8 and shares of Nityas Gems and Jewellery debuted at Rs 82. This represents a discount of 2.3% for Vishal Nirmiti and a premium of 9.3% for Nityas Gems over their IPO price of Rs 220 and Rs 75, respectively.
Here is a look at the key details of the issue –
The Vishal Nirmiti initial public offering was a fresh issue of shares of up to Rs 145 crore and an offer for sale of up to 15 lakh shares. Vishal Nirmiti is a civil engineering company, mainly engaged in manufacturing pre-stressed concrete sleepers for railways.
The IPO opened for subscription on September 30 and closed on October 5. The company had fixed the final issue price at Rs 220 per share. The public offer was subscribed 1.71 times as on the final day of bidding. Non-institutional investors were leading, with the portion being subscribed 1.81 times. This was followed by retail investors with 1.67 times subscription.
Saffron Capital Advisors was the book-running lead manager and MUFG Intime India was the registrar for the issue.
The Nityas Gems & Jewellery IPO was solely a fresh issue of up to 1.45 crore shares. The issue opened for subscription on September 30 and closed on October 5. The company had set the issue price at Rs 75 per share.
The offer was subscribed 2.25 times as on the final day, led by retail investors. The retail portion was subscribed 4.04 times, followed by non-institutional investors with 2.05 subscription. The portion reserved for qualified institutional investors was subscribed 1.06 times.
Choice Capital Advisors was the book-running lead manager for the issue and Bigshare Services was the registrar.