In IPO frenzy, 200 HNIs compete for one share
Rich are lured by hefty listing gains, easy financing
The booming primary market is witnessing strong participation from non-institutional investors (NIIs). Driven mainly by HNIs, the average subscription for the non-institutional quota has been 190-200 times in 2020 and so far in 2021 compared to 30-40 times about a decade back. This means, for every share on offer under the NII quota in IPOs, there are 200 competing investors.
Flush with cash and financing, HNIs are going after initial public offerings (IPOs) in a big way as substantial listing day gains have become the norm, say experts. Technically, non-institutional bidders are individual investors, NRIs, companies, trusts etc who bid for more than ₹2 lakh but do not have to register with SEBI like qualified institutional investors (QIIs).
Stocks in Focus on March 12: Domestic equity benchmarks ended with decent gains after a volatile day on Wednesday, March 10, 2021. The S&P BSE Sensex added 254.03 points or 0.50 per cent to 51,279.51.
The issue received bids for 240.27 crore shares as against 1.50 crore shares on offer.The initial public offer (IPO) of Easy Trip Planners received bids for 240.27 crore shares as against 1.50 crore shares on offer, according to the stock exchange data. The issue was subscribed 159.33 times.
The non-institutional investors category was subscribed 382.21 times. The qualified institutional buyers (QIBs) category was subscribed 77.53 times. The retail individual investors category was subscribed 70.40 times.
The issue opened for bidding on Monday, 8 March 2021, and closed on Wednesday, 10 March 2021. The price band for the IPO was set at Rs 186-187 per share.
The IPO comprised an offer for sale (OFS) of equity shares aggregating up to Rs 510 crore (including anchor portion of 1,22,72,727 equity shares). The post-issue promoter s shareholding in the company will decline to 74.9% from 100%.
Easy Trip Planners, Ease My Trip IPO: Subscribed over whopping 159 times - Check allotment status finalisation and listing date msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Stocks likely to see action today are: AU Small Finance, Godrej Properties, Max Healthcare, Confidence Petroleum India, JSW Energy, Jubilant Foodworks, Magma Fincorp and PowerGrid Indian stock markets are expected to open with a gap-up opening on Wednesday, thanks to strong global cues. As US Treasury yields softened considerably, the tech-heavy Nasdaq jumped 3.7 per cent overnight. The S&P 500 and the Dow Jones Industrial Average too gained 1.4 per cent and 0.10 per cent.
However, Asian stock markets are up only moderately, signalling the weakness at higher levels.
Following the US market trends, the SGX Nifty is currently hovering at 15,237, which is almost 100 points higher than the Nifty March futures that closed at 15,134 on Tuesday.