Five companies shine on debut; deliver gains of up to 159% on listing day

These five IPOs had closed on Monday and attracted cumulative bids worth Rs 1.4 trillion as against the Rs 2,909 crore they were looking to mop up

Five companies that got listed on Friday following their maiden share sales delivered gains between 18 per cent and 159 per cent. Leading the pack was Mamata Machinery, a manufacturer of machines used for making plastic bags, with its stock more than doubling. Shares of the company ended at Rs 630, up Rs 387, or 2.6 times, over the issue price of Rs 243. The company’s Rs 179 crore IPO - entirely an offer for sale – was subscribed 195 times.

 

Shares of DAM Capital Advisors ended 47 per cent above its issue price at Rs 415. At the last close, the boutique investment banking firm was valued at Rs 2,934 crore. Transrail Lighting, an engineering and construction company, saw its market value rise 28 per cent to Rs 7,428 crore. Both DAM and Transrail’s IPOs were about Rs 840 crore each and they were subscribed 82 times each. 

 

Meanwhile, shares of Sanathan Textiles and Concord Enviro Systems rose 20 per cent each. The IPO of the polyester yarn manufacturer was subscribed over 36 times, while that of Concord Enviro, a wastewater treatment firm, was subscribed nearly 11 times.

 

These five IPOs had closed on Monday and attracted cumulative bids worth Rs 1.4 trillion against Rs 2,909 crore they were looking to mopup. 

Earthood Services files for IPO

 

Earthood Services Ltd has filed draft papers with markets regulator Sebi to mopup funds through an initial public offering (IPO). The services firm specialises in providing environmental, social, and governance (ESG) advisory and assurance services to clients in India and internationally. The firm’s proposed IPO comprises a fresh issue of 3.6 million equity shares and an offer for sale of up to 4.2 million equity shares by promoters.

 

Neilsoft files draft papers with Sebi

 

Neilsoft, a technology-driven engineering services and solutions company, has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The Pune-headquartered firm's IPO is a combination of a fresh issue of shares worth Rs 100 crore and an offer for sale (OFS) of 8 million shares by promoters and other selling shareholders, according to the draft red herring prospectus (DRHP).

 

(With inputs from PTI)