May 2024 IPO market sees ₹9,606 crore raised by 5 firms, no discounts on listing; check details here
₹9,606 crore, the highest in 8 months, since September 2023. The offers for sale category accounted for 64 percent of the total fundraising, approximately ₹6,200 crore, while the fresh capital issuances contributed ₹3,404 crore.Moreover, none of the 5 IPOs were listed at a discount to their issue prices.
While TBO Tek witnessed the best debut performance, listing at a 55 percent premium to its IPO price; it was followed by Indegene, which debuted at a 45 percent premium.Read here: Equity mutual fund inflows skyrocket to record ₹34,697 crore in May, SIPs reach ₹20,904 croreMeanwhile, in the other 3 IPOs, Awfis Space Solutions posted 9.9 percent listing gains, Go Digit General Insurance debuted at 5.1 percent premium whereas Aadhar Housing Finance was listed at 0 percent premium/discount i.e. same as its issue price.Looking at individual issue sizes, four issues exceeded ₹1,000 crore.
Aadhar Housing Finance had the highest issue size of ₹3,000 crore, followed by Go Digit General Insurance with ₹2,615 crore, Indegene Ltd with ₹1,842 crore, and TBK Tek Ltd with ₹1,550.80 crore. Meanwhile, Awfis Space Solutions raised ₹598.93 crore via its IPO.Read here: Sattrix IPO allotment likely to be out today.
Latest GMP, steps to check statusFurthermore, all 5 IPOs of May were oversubscribed, one even over 100 times. Awfis Space was the most subscribed IPO in May with its overall subscription in the 3 days of bidding at 108.2.
It was followed by TBO Tek, which received 86.69 times bids, Indegene at 70.3 times and Aadhar Housing Finance at 26.76 times. Meanwhile, Go Digit General Insurance witnessed the lowest total subscription at 9.6 times.Amid a rush to list companies before the national election results, experts believe that
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