Senores gains 43% on stock market debut; Ventive up 10%, Carraro dips 10%

The listing day performance was largely in line with the subscription levels for the threen IPOs

The three stock market debutants — Senores Pharmace­uti­cals, Ventive Hospitality, and Carraro India — saw a mixed response from investors on Monday. While shares of Senores Pharmaceuticals end­ed nearly 43 per cent higher over the issue price at Rs 558, the stocks of Ventive Hospitality gained 10 per cent and Carraro India fell 10 per cent. 

The listing day performance was largely in line with the subscription levels for the three initial public offerings (IPOs). Senores Pharmaceut­icals’ Rs 582 crore offering had seen over 90 times more demand than the shares on offer and generated bids worth over Rs 31,000 crore. Carraro India’s Rs 1,250 crore IPO managed to scrape through with just 1.12 x the subscription, and Ventive Hospitality’s Rs 1,600 crore issue had garnered nearly 10 times the subscription. 

 

Senores is a research-driven pharmaceutical firm, specialising in developing and manufacturing a wide range of pharmaceutical products. Carraro is engaged in manufacturing components ranging from the smallest gear to complete tractor manufacturing. Ventive Hospitality is involved in developing and managing high-end luxury hotels and resorts, with assets in Pune, Bengaluru, Varanasi, and the Maldives. 

According to an analysis by Nuvama Alternative & Quantitative Research, overall, IPOs of 2024 have delivered impressive listing day gains of 31 per cent on a weighted average basis.