Recent IPOs Performance 2021

Recent IPO
IPO
16/08/2021

The first four months of the fiscal year FY22 saw collections of over Rs.26,000 crore via IPOs. August alone is expected to collect close to Rs.30,000 crore via IPOs. But the moot question is how have these IPOs of the recent past performed in the stock markets post listing and has their performance been linked to the oversubscription? Here is a quick look.

Performance of recent IPOs
 

Company

IPO Price

Listed on

Subscription

List day gain

Current Price

Total Gain

GR Infraprojects IPO

Rs.837

19-Jul

102.58X

108.70%

Rs.1,667.05

99.17%

Clean Science IPO

Rs.900

19-Jul

93.41X

76.13%

Rs.1,611.80

79.09%

Zomato Ltd IPO

Rs.76

23-Jul

38.25X

65.59%

Rs.137.55

80.99%

Tatva Chintan IPO

Rs.1,083

29-Jul

180.36X

113.32%

Rs.2,157.90

99.25%

Glenmark Life IPO

Rs.720

06-Aug

44.17X

3.92%

Rs.757.75

5.24%

Rolex Rings IPO

Rs.900

09-Aug

130.44X

29.62%

Rs.1,149.20

27.69%

 

If you look at the 6 IPOs that listed in the stock markets since the middle of July, two IPOs of GR Infrastructure and Tatva Chintan have doubled over their issue price. On the other hand, IPOs of Clean Science & Technology and Zomato have given returns of 80% since listing. 

The two most recent issues listed in August; Rolex Rings and Glenmark Life had a more tepid listing. While Rolex Rings trades with gains of 27.7% over its issue price, Glenmark Life is just about 5.24% above its issue price.

Has the listing performance got to do with the extent of subscription? The two top performers; GR Infra and Tatva Chintan did get subscribed well over 100 times. However, Rolex Rings with 130X subscription has given only 27.69% returns. Glenmark Life, which gave the lowest returns of 5.24% over issue price was subscribed just 44.17 times. 

However, Zomato with just 38.25 times subscription is trading 81% above its issue price. In short, the post listing performance appears to have less to do with the extent of subscription and more to do with the aggression with which the IPO was priced and the valuation room left on the table by the issuing companies. 

Spate of 8 IPOs on the threshold of listing

While the above 6 IPOs are already listed, there are 8 more IPOs queued up for listing. Four of these IPOs will list on Tuesday, 17 August while the other four IPOs will list in the week after that. Here is a quick rundown.
 

Company Name

Issue Closure

Listing Date

IPO Price

Subscription

Exxaro Tiles IPO

06-Aug

17-Aug

Rs.120

22.65X

Windlas Biotech IPO

06-Aug

17-Aug

Rs.460

22.44X

Krsnaa Diagnostics IPO

06-Aug

17-Aug

Rs.954

64.38X

Devyani International IPO

06-Aug

17-Aug

Rs.90

116.70X

CarTrade Tech IPO

11-Aug

23-Aug

Rs.1,585-1,618

20.29X

Nuvoco Vistas IPO

11-Aug

23-Aug

Rs.560-570

1.71X

Aptus Value Housing IPO

12-Aug

24-Aug

Rs.346-353

17.20X

Chemplast Sanmar IPO

12-Aug

24-Aug

Rs.530-541

2.17X

 

We are yet to see the listing performance of these 8 stocks. In the case of the first four stocks listing on 17th Aug, the final price has been discovered at the upper end of the IPO price band in all cases. However, in the case of the 4 IPOs slated to list in the week after next, the final price discovery is yet to be announced.

To sum it up, the IPO price action since July has been fairly mixed, albeit with a positive undertone. These latest 8 IPOs could hold the key to the enthusiasm and aggression of the other IPOs in the anvil.
 

Check:

1. Upcoming IPOs in 2021

2. Upcoming IPOs in August 2021

3. List of Forthcoming IPOs

Next Article

CMS Info Systems files DRHP for Rs.2,000 crore IPO

CMS
IPO
16/08/2021

In the latest in the string of big ticket IPOs, CMS Info Systems has filed draft red herring prospectus with SEBI for a proposed Rs.2,000 crore IPO. The entire IPO will be an offer sale by Sion Investment Holdings Pte Ltd, an affiliate of Baring Private Equity.

CMS Info Systems has been privately owned for more than 13 years now. In 2008, Blackstone took controlling stake in CMS Info Systems which was later sold to Baring Private Equity in 2015. Currently, Sion Investment Holdings owns 100% stake in the company.

CMS Info Systems is predominantly involved in tech-enabled banking support services. Its revenues basically come from ATM and Cash Management, ATM installations, ATM maintenance services and personalized card services. While cash management accounts for 68.6% of revenues, managed services accounts for 27.9% of yearly revenues.

India is the third largest ATM market in the world in terms of installed ATMs and CMS has a leadership position in ATM and cash management. CMS manages over Rs.5,000 crore of cash per day and operates through an all-India network of 3,911 cash vans, 224 offices and services over 133,000 business points on an average.

For the fiscal year ending March 2021, CMS reported net sales revenues of Rs.1,322 crore and net profits of Rs.169 crore implying net profit margins of 12.78%. The company has appointed Axis Capital, Jefferies India, JM Financial and DAM Capital (formerly IDFC Securities) as BRLMs for the issue.

Interestingly, Baring had tried to do an IPO in 2017 but decided to withhold the idea after market conditions turned unfavourable. This is their second attempt at taking the company public. Being a total offer for sale (OFS), there will not be any fresh funds coming into the company.

Next Article

Exxaro Tiles IPO lists at 5% premium, remains rangebound

Exxaro
IPO
16/08/2021

The expectations were not too huge as the fall in GMP had hinted at a tepid listing. Exxaro not only had a tepid listing, but also remained in a range through the day. On 16 August, Exxaro Tiles listed at a premium of just 5% and managed to hold above its issue price of Rs.120, through the day.  With overall subscription of over 22.65X in the IPO, and retail subscription at over 40.05X, the listing response was relatively muted. Here is the Exxaro Tiles IPO listing story on 16 August.

The IPO price was fixed at the upper end of the band at Rs.120 after the 22.65X subscription. On 16 Aug, the stock of Exxaro Tiles listed on the NSE at a price of Rs.126, a premium of 5% over the issue price. On the BSE also, the stock listed at a price of Rs.126, representing listing premium of 5%.

On the NSE, Exxaro Tiles closed at Rs.132.30, a first day closing premium of 10.25% over the issue price. On the BSE, the stock closed at Rs.132.25, a first day closing premium of 10.21% over the issue price. The stock held on to gains through the day.

On Day-1 of listing, Exxaro Tiles touched a high of Rs.132.30 on the NSE and a low of Rs.126. On Day-1, the Exxaro Tiles stock traded a total of 46.33 lakh shares on NSE amounting to value of Rs.59.74 crore.  On the NSE, Exxaro closed at its highest point of the day.

On the BSE, Exxaro Tiles touched a high of Rs.132.30 and a low of Rs.126. On BSE, the stock traded a total of 7.41 lakh shares amounting to value of Rs.9.56 crore. At the close of Day-1, Exxaro Tiles had a market capitalization of Rs.592 crore with free-float market cap of just Rs.154 crore.

 

Check:

1. Upcoming IPOs in 2021

2. Upcoming IPOs in August 2021

3. List of Forthcoming IPOs

Next Article

Windlas Biotech IPO Listing

Windlas
IPO
16/08/2021

Windlas Biotech had a discouraging listing on 16 August as it listed at a discount to the issue price and during the day the discount only widened. The sharp fall in the GMP was already indicative of a weak listing, but the actual listing was below what the GMP had indicated. Windlas Biotech listed at a discount of -5% and traded through the day below the issue price of Rs.460. In fact, even the high price of the day was well below the issue price. With overall subscription of over 22.44X, listing response was fairly discouraging. Here is the Windlas Biotech listing story on 16 August.

The Windlas Biotech IPO price was fixed at the upper end of the band at Rs.460 after the 22.44X subscription. On 16 Aug, the stock of Windlas Biotech listed on the NSE at a price of Rs.437, a discount of -5% on the issue price. On the BSE, the stock listed at a price of Rs.439, a listing discount of -4.6%.

On the NSE, Windlas Biotech closed at Rs.406, a first day closing discount of -11.74% on the issue price. On the BSE, the stock closed at Rs.406.70, a first day closing discount of -11.6% on the issue price.

On Day-1 of listing, Windlas Biotech touched a high of Rs.452 on the NSE and a low of Rs.405. On Day-1, the Windlas Biotech stock traded a total of 41.04 lakh shares on NSE amounting to value of Rs.174.35 crore. The stock closed near to the low of the day.

On the BSE, Windlas Biotech touched a high of Rs.452.10 and a low of Rs.405. On BSE, the stock traded a total of 3.27 lakh shares amounting to value of Rs.13.89 crore. At the close of Day-1, Windlas Biotech had a market capitalization of Rs.886 crore with free-float market cap of just Rs.248 crore.
 

 

Check:

1. Upcoming IPOs in 2021

2. Upcoming IPOs in August 2021

3. List of Forthcoming IPOs

Next Article

Devyani International IPO Listing

Devyani
IPO
16/08/2021

The expectations were huge as Devyani International had been subscribed more than 100 times in the IPO. The GMP was indicating a premium listing. While the listing was strong, the stock failed to hold on to higher levels. Devyani International listed at a premium of 56.6% but that turned out to be the high price for the day.  Despite overall subscription of 116.70X in the IPO consisting of HNI subscription at 213.06X and QIB subscription at 95.27X, the listing response tapered later. Here is the Devyani International listing story on 16 August.

The Devyani International IPO price was fixed at the upper end of the band at Rs.90 after the 116.70X subscription. On 16 Aug, the stock of Devyani International  listed on the NSE at a price of Rs.140.90, a hefty premium of 56.6% over the issue price. On the BSE, the stock is listed at a price of Rs.141, a listing premium of 56.7%.

On the NSE, Devyani International closed at Rs.122.60, a first-day closing premium of just about 36.2% over the issue price. On the BSE, the stock closed at Rs.123.35, a first-day closing premium of 37.1%. The opening price was almost the high price of the day.

On Day-1 of listing, Devyani International touched a high of Rs.140.90 on the NSE and a low of Rs.120.80. On Day-1, the Devyani International stock traded a total of 15.24 crore shares on NSE amounting to the value of Rs.1,989 crore. On the NSE, Devyani International was ranked Number 3 by traded value and traded volume on 16th August.

On the BSE, Devyani International touched a high of Rs.141.05 and a low of Rs.120.75. On BSE, the stock traded a total of 69.15 lakh shares amounting to the value of Rs.89.84 crore. At the close of Day-1, Devyani International had a market capitalization of Rs.14,833 crore with a free-float market cap of just Rs.1,632 crore.
 

 

Check:

1. Upcoming IPOs in 2021

2. Upcoming IPOs in August 2021

3. List of Forthcoming IPOs

Next Article

Krsnaa Diagnostics IPO listing

Krsna
IPO
16/08/2021

Krsnaa Diagnostics also had a tepid listing although it held on above the issue price. Krsnaa Diagnostics listed at a premium of just 5.4% but tapered further, managing to just hold above the issue price of Rs.954. With overall subscription of 64.38X in the IPO and with HNI subscription at 116.30X, the listing response was relatively muted. Here is the Krsnaa Diagnostics listing story on 16th August.

The Krsnaa Diagnostics IPO price was fixed at the upper end of the band at Rs.954 after 64.38X subscription. On 16th Aug, the stock of Krsnaa Diagnostics listed on the NSE at a price of Rs.1,005.55, a premium of 5.4% over the issue price. On the BSE, the stock listed at a price of Rs.1,025, a listing premium of 7.44%.

On the NSE, Krsnaa Diagnostics closed at Rs.978, a first day closing premium of just about 2.52% over the issue price. On the BSE, the stock closed at Rs.990.75, a first day closing premium of 3.85% over the issue price.

On Day-1 of listing, Krsnaa Diagnostics touched a high of Rs.1,099.70 on the NSE and a low of Rs.960. On Day-1, the Krsnaa Diagnostics stock traded a total of 83.08 lakh shares on NSE amounting to value of Rs.853.16 crore. On the NSE, Krsnaa Diagnostics was ranked Number 7 by traded value on 16th August.

On the BSE, Krsnaa Diagnostics touched a high of Rs.1,099.50 and a low of Rs.961.45. On BSE, the stock traded a total of 4.31 lakh shares amounting to value of Rs.44.21 crore. At the close of Day-1, Krsnaa Diagnostics had a market capitalization of Rs.3,111 crore with free-float market cap of just Rs.1,151 crore.

 

Check:

1. Upcoming IPOs in 2021

2. Upcoming IPOs in August 2021

3. List of Forthcoming IPOs