Vaibhav Jewellers
The initial public offer of Vaibhav Jewellers, which opened on Friday, is seeing tepid response from investors so far. The overall subscription stood at 30% on the second day of the bidding process.
The retail category was subscribed the most at 52%, followed by NIIs at 18%. There were no bids from qualified institutional buyers yet.
The issue closes on September 26.
The company is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana.
About 77% of its retail showrooms are in tier 2 and tier 3 cities and the rest are in Hyderabad and Visakhapatnam catering to urban consumers.
The IPO comprises a fresh issue of Rs 210 crore and an offer for sale (OFS) segment of up to 28 lakh equity shares. The total offer size comes to about Rs 270 crore.The company has fixed a price band of Rs 204-215 per share for its IPO.
Updater Services
The Rs 640 crore-IPO of Updater Services was subscribed just 3% so far on the first day of the bidding process. There were no bids yet from NIIs and QIBs. Only the retail category was booked 17%.
The company plans to raise about Rs 640 crore through the IPO, which closes on September 27.
The issue comprises fresh equity of Rs 400 crore and an OFS of 80 lakh shares by promoter and other selling shareholders. The IPO is priced in the range of Rs 280-300 per share and investors can bid for a minimum of 50 shares in one lot and in multiples thereafter.
About 75% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 10% for retail investors.
Updater Services is a leading integrated facilities management services and business support services provider to their customers, with a pan-India presence.
JSW Infrastructure
JSW Infrastructure’s Rs 2,800 crore-IPO, which closes on September 27, is the biggest of the month. The issue was subscribed 18% so far on the first day.
The demand from retail investors was decent at 77% subscription, while NII’s category was booked at 15%. The QIB subscription was NIL as of now.
The IPO is entirely a fresh equity issue of Rs 2,800 crore. The company has fixed a price band of Rs 113-119 per share and investors can bid for a minimum of 126 shares in one lot and in multiples thereafter.
About 75% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 10% for retail investors.
JSW Infrastructure is the fastest growing port-related infra company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23.