The initial public offerings (IPOs) of four companies—Aelea Commodities, Sati Poly Plast, Prizor Viztech, and Three M Paper Boards—received a strong response from investors, achieving full subscription on July 12, the first day of bidding. All four IPOs will close on July 16.
Aelea Commodities IPO
The Rs 51-crore IPO of the agricultural products trader was subscribed 4.65 times, with retail investors and non-institutional investors (high networth individuals-HNIs) buying 8.08 times and 3.34 times the allotted quotas, respectively. Qualified institutional buyers (QIBs) have not participated yet.
The Aelea Commodities public issue, consisting solely of a fresh issue of 53.68 lakh equity shares, will remain open for two more days. The price band for the book-built issue is Rs 91-95 per share.
The company, involved in processing and trading cashews, sugar, pulses, soybean, rice, and wheat flour, had already raised Rs 14.52 crore from five anchor investors at the upper price band on July 11. The funds will primarily be used for setting up a new manufacturing unit and purchasing plant and machinery for its existing unit.
Three M Paper Boards IPO
The IPO of the recycled paper-based duplex board products manufacturer was subscribed 7.46 times on the first day, receiving 13,197 applications. Retail investors led the charge, buying 12.98 times the portion set aside for them, followed by HNIs, who picked 5.28 times the reserved portion. QIBs have yet to show interest.
The Mumbai-based company aims to raise Rs 39.83 crore through its IPO of 57.72 lakh equity shares at the upper end of the price band of Rs 67-69 per share. The funds will be used for installing new machinery, modernising certain processes, installing a plastic-fired low-pressure boiler, long-term working capital, repaying debts, and general corporate purposes.
Sati Poly Plast IPO
The IPO by the packaging materials maker received the highest subscription among the four companies, being subscribed 20 times. Retail investors led the way, picking 36.87 times the portion set aside for them, and HNIs 14.7 times the allotted quota. QIBs have yet to participate.
Sati Poly, based in Bihar, aims to raise Rs 17.36 crore through the public issue of 13.35 lakh equity shares, with a price band of Rs 123-130 per share. On July 11, anchor investors, part of the QIBs, provided Rs 4.92 crore by buying 3.79 lakh equity shares at Rs 130 per share. The funds will primarily be used for working capital requirements and general corporate purposes.
Prizor Viztech IPO
The Rs 25.15-crore IPO of the security and surveillance solutions provider was subscribed 12.34 times, supported by retail investors and HNIs, with no activity from QIBs.
Retail investors picked 23.24 times the allotted quota, and HNIs bought 8.32 times the reserved portion. The Ahmedabad-based company’s IPO consists solely of a fresh issue of 28.91 lakh equity shares, with a price band of Rs 82-87 per share. It had already raised Rs 7.08 crore via anchor book on July 11, with participation from four investors. The funds will be used for setting up a display centre and inventory storage in Ahmedabad, working capital requirements, and general corporate purposes.
