IPOs see year-end rush from investors, HNIs

Thursday 14th December, 2023

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[POs see year-end rush from Investors, HNIS RAVI RANJAN PRASAD MUMBAI, DEC. 13 Primary market is again in focus with a flurry of initial public offerings before the calendar year goes for low Key activity during Christmas and new year holidays. On Wednesday Doms Industries and India Shelter Finance Corporation's T1,200 crore each IPOs opened to huge response and got fully subscribed on the first day with heavy demand from the retail investors. Doms Industries IPO was subscribed 5.7 times and retail investors portion was subscribed 19.1 times, noninstitutional or high net worth individual portion was subscribed 7.9 times. India Shelter is subscribed 1.4 times with retail portion getting subscribed 1.8 times and HANI portion subscribed 1.7 times. Two new IPOs were announced Wednesday by Muthoot Fincorp aiming to raise 960 cr, and Mumbai's Suraj Estate Developer aiming to raise 400 crore. Muthoot Fincorp's public issue in the price band of 277 to 291 per equity share of 10 face value opens on Dec.18 and closes on Dec. 20. Suraj's public issue is in the price band of 340 to 60 per equity share of 5 face value opens on Dec. 18 and closes on December 20.