Mainboard IPO Landmark Cars may list at 2-3 per cent discount to its issue price while that of Abans Holdings is likely to see a muted listing premium on Friday, grey market trends suggest. SME IPO Droneacharya Aerial, on the other hand, may deliver a 90 per cent listing pop, its grey market premium (GMP) suggests.
Landmark Cars is likely to make market debut at around Rs 490 level over its issue price of Rs 506. The IPO was sold from December 13 to December 15 and comprised a fresh issue of shares up to Rs 150 crore and an offer for sale of up to Rs 402 crore, aggregating Rs 552 crore. This IPO was subscribed 3.30 times.
In case of Abans Holdings, the stock is seen listing at around Rs 273 level over the issue price of Rs 270 level. The Rs 346 crore IPO was sold from December 12 to December 15 and was subscribed 1.10 times.
DroneAcharya Aerial Innovations, which generated a stellar 262 times subscription to its SME initial public offer, meanwhile, may deliver a strong listing gain on its market debut on BSE’s SME platform today. Despite weakness in the secondary market in the last couple of sessions, the issue was commanding a grey market premium (GMP) of Rs 50 over the issue price of Rs 54, hitting at a strong listing pop.
The Rs 33 crore issue had generated bids for Rs 6,016.78 crore during its IPO bidding process, attracting bids for 109.61 crore shares. This IPO saw 330.75 times retail subscription. It received bids for 69.19 crore shares against mere 20.92 lakh shares on offer. The non-institutional investor category (NII) was subscribed 388.71 times, accounting for over 34.90 crore shares against 8.98 lakh shares on offer. The qualified institutional buyer (QIB) category Was also subscribed 46.21 times, representing 5.51 crore shares against 11.94 lakh shares on offer.
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