The initial public offerings of Vikran Engineering and Anlon Healthcare, which began accepting subscriptions on Tuesday, August 26, experienced successful bidding on their inaugural day.
Vikran Engineering, an infrastructure EPC firm, achieved 2.38 times subscription on the first day of bidding. The non-institutional investors segment attracted a subscription rate of 5.15 times, while the portion allocated for retail individual investors was subscribed 2.32 times. The qualified institutional buyers segment saw a 41 percent subscription rate.
On the other side, Anlon Healthcare IPO subscription status stood at 1.69 times on day one. The retail segment was subscribed at 8.99 times, with the non-institutional investor segment booked at 71%, and the qualified institutional buyers segment receiving 91% of the bids.
Let’s take a look at the grey market premium trends:
Vikran Engineering IPO GMP today or grey market premium is +13. This indicates Vikran Engineering share price were trading at a premium of ₹13 in the grey market on Wednesday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vikran Engineering share price was indicated at ₹110 apiece, which is 13.40% higher than the IPO price of ₹97.
According to the grey market activities over the past 10 sessions, the IPO GMP is currently on the rise and is anticipated to have a solid listing. The lowest GMP recorded is ₹0.00, while the highest GMP stands at ₹21, as per expert opinions.
Anlon Healthcare IPO GMP today is +5. This indicates Anlon Healthcare share price was trading at a premium of ₹5 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Anlon Healthcare share price is indicated at ₹96 apiece, which is 5.49% higher than the IPO price of ₹91.
Based on the activities in the grey market over the last seven sessions, the IPO GMP is trending upward today, suggesting a robust listing. The minimum GMP stands at ₹0.00, while the maximum GMP reaches ₹5, as per expert opinions.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
IPO details
The Vikran Engineering IPO, valued at ₹772 crore, opened for bids on August 26 and will close on August 29. The share price has been established within a range of ₹92 to ₹97.
This IPO comprises a fresh issue of shares amounting to approximately ₹721 crore along with an offer-for-sale segment of ₹51 crore from the promoter.
The company based in Mumbai plans to allocate ₹541 crore from the fresh issue to meet working capital needs, with the remaining funds directed toward general corporate objectives.
Anlon Healthcare IPO, which ends on August 29, consists of a fresh issuance of 1.33 crore shares. If the shares are sold at the highest price in the range, the total value of the offering would be approximately ₹121 crore. The funds generated from this issuance will be utilized for the expansion of the company’s manufacturing facility ( ₹30.7 crore), enhancing working capital ( ₹43.15 crore), reducing outstanding debt, and supporting various general corporate activities.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
