IPO pulse grips D-Street: ₹2.59 lakh crore gathered by 5 issues in week-long subscription frenzy
₹2.59 lakh crore in the five recently concluded mainboard initial public offerings (IPOs). The week-long bidding frenzy gripped investors as the five companies -Tata Technologies Ltd., Gandhar Oil Refineries Ltd., Fedbank Financial Services Ltd., Flair Writing Industries Ltd, and Indian Renewable Energy Development Agency (IREDA) Ltd sustained the IPO pulse in India's primary markets.
Analysts noted that the week ending November 24 was one of the busiest weeks for primary market in recent years, as the five mainboard IPOs opened to raise ₹7,377 crore. Out of the ₹2.5 lakh crore bids placed, Tata Technologies garnered the biggest share with ₹1.56 lakh crore worth bids placed in the three-day issue.
Tata Technologies IPO was subscribed 70 times on the final day. ‘’The huge appetite for equities stems from the confidence that investors have in the India growth story and the large universe of fast-growing, well-managed companies, which expected to deliver good profits,'' said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt.
Ltd. - a mid-market investment bank.
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