Three newly listed stocks—Hero Motors, Jindal Supreme and SS Retail—made their debut on the Indian stock exchanges on Wednesday, 23 September, with vastly different performances. While SS Retail shares opened at a premium of nearly 50% and Jindal Supreme gained around 30% over their respective IPO prices, Hero Motors shares opened at a discount, falling below their issue price of ₹84. The contrasting debuts come after all three IPOs received strong investor interest during their subscription period, setting the stage for keen attention on their post-listing performance.
Hero Motors share price
Hero Motors share price made a weak debut on the bourses today, Wednesday, 23 September. On the NSE, Hero Motors share price opened at ₹82 per share, 2.38% lower than the issue price of ₹84. On the BSE, the stock opened at ₹82.10 apiece, down 2.26% from the issue price.
The initial public offering (IPO) of auto components maker Hero Motors Ltd was subscribed 6.66 times on the final day of bidding on Friday, with investors placing bids for nearly 59 crore shares.
According to NSE data, the ₹1,000-crore IPO received bids for 58,97,26,638 shares against 8,86,07,596 shares on offer.
The non-institutional investor (NII) category was subscribed 9.86 times, while the retail investor portion was booked 8.23 times. The quota reserved for qualified institutional buyers (QIBs) saw a 1.49 times subscription.
Hero Motors raised nearly ₹300 crore from anchor investors ahead of the IPO.
The company had set a price band of ₹79–84 per equity share for the issue.
The mainboard IPO comprises a fresh issue of equity shares worth up to ₹600 crore and an offer-for-sale (OFS) of shares worth up to ₹400 crore.
Jindal Supreme share price
Jindal Supreme share price made a bumper debut on the bourses today. On the NSE, Jindal Supreme share price opened at ₹120 per share, 29.03% higher than the issue price of ₹93. On the BSE, the stock opened at ₹121.90 apiece, up 31.08% from the issue price.
The initial public offering of Jindal Supreme (India) Ltd, a manufacturer of plastic piping solutions and related products, was subscribed a staggering 181.07 times on the final day of bidding on Friday, reflecting strong demand across investor categories.
According to NSE data, the ₹125-crore IPO received bids for 1,70,19,83,003 shares against 93,99,600 shares on offer.
The portion reserved for NIIs was subscribed to 327.99 times, while the retail investor category was subscribed to 149.34 times. The quota reserved for QIBs was subscribed 126.41 times.
Jindal Supreme India had fixed a price band of ₹88–93 per equity share for the IPO.
The issue comprises a fresh issue of 1.07 crore equity shares, aggregating to nearly ₹100 crore at the upper end of the price band, along with an OFS of 26.86 lakh shares, worth around ₹25 crore, by the promoter group entity VVJ Enterprise Pvt Ltd.
SS Retail share price
SS Retail share price made a blockbuster debut on the bourses today. On the NSE, SS Retail share price opened at ₹624 per share, 47.17% higher than the issue price of ₹424. On the BSE, the stock opened at ₹639.10 apiece, up50.73% from the issue price.
The initial public offering of SS Retail Ltd was subscribed to 103.30 times on the final day of bidding on Friday, reflecting strong investor demand.
According to NSE data, the ₹500-crore IPO received bids for 90,83,98,995 shares against 87,93,884 shares on offer.
The portion reserved for QIBs was subscribed 203.61 times, while the NIIs category was subscribed 143.32 times. The retail investor quota received 36.36 times the subscription.
The IPO comprises a fresh issue of equity shares worth up to ₹360 crore and an OFS of shares worth up to ₹140 crore.
The company had fixed a price band of ₹403–424 per equity share for the IPO.
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