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Sapphire Foods India IPO subscription Day-3

Saphhire Foods IPO Day 3 Subscription
by 5paisa Research Team 10/11/2021

The Rs.2,073 crore IPO of Sapphire Foods India, consisting entirely of an offer for sale (OFS) of Rs.2,073 crore, saw subdued response on Day-1 of the IPO but managed to get fully subscribed at the end of Day-2. As per data put out by the BSE at the close of Day-3, Sapphire Foods India IPO was subscribed 6.62X overall, with strong demand coming from the retail segment followed by QIBs. The issue has closed on 11th November.

As of close of 11th November, out of the 96.63 lakh shares on offer in the IPO, Sapphire Foods India saw bids for 639.45 lakh shares. This implies an overall subscription of 6.62X. The granular break-up of subscriptions was dominated by the retail investors followed by QIB bids. As expected, the QIB bids and NII bids did gather momentum on the last day, as is the general trend in the IPO market.

Sapphire Foods India IPO Subscription Day-3

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

7.50 Times

Non Institutional Investors (NII)

3.46 Times

Retail Individuals

8.70 Times

Employees

N.A.

Overall

6.62 times


QIB Portion

The QIB portion of the IPO was subscribed a good 7.50 times at the close of Day-3. On 08th November, Sapphire Foods India did an anchor placement of 79,06,473 shares at the upper end of the price band of Rs.1,180 to 53 anchor investors raising Rs.932.96 crore. The list of QIB investors included a number of marquee global names like Government of Singapore, MAS, Fidelity, ADIA, Crestwood Capital, HSBC Global, Lion Global, Carmignac Ontario Teacher’s Pension Fund etc. Domestic anchor investors included ICICI Pru Life, Sundaram Mutual Fund, Bajaj Allianz, HDFC MF, Kotak MF; among others.
The QIB portion (net of anchor allocation as explained above) has a quota of 52.71 lakh shares of which it has got bids for 395.27 lakh shares, implying a subscription ratio of 7.50X for QIBs at the close of Day-3. QIB bids typically get bunched on the last day and they managed to boost the subscription for Sapphire IPO overall.

HNI / NII Portion

The HNI portion got subscribed 3.46X (getting applications for 91.25 lakh shares against the quota of 26.35 lakh shares). This is a much better response on Day-3 and this segment normally sees the maximum response bunched on the last day. That is because, bulk of the funded applications and corporate applications, come in on the last day of the IPO. 

Retail Individuals

The retail portion was subscribed an impressive 8.70X at the end of Day-3, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 17.57 lakh shares on offer, valid bids were received for 152.93 lakh shares, which included bids for 119.37 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.1,120-Rs.1,180) and has closed for subscription on 11th November 2021.

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Latent View Analytics IPO subscription Day-2

Latent View IPO Day 2 Subscription
by 5paisa Research Team 10/11/2021

The Rs.600 crore IPO of Latent View Analytics, consisting of a fresh issue of Rs.474 crore and an offer for sale (OFS) of Rs.126 crore, saw robust response on Day-1 of the IPO. As per the combined bid details put out by the BSE at the close of Day-2, Latent View Analytics IPO was subscribed 23.22X overall, with strong demand coming from the retail and HNI segments followed by the QIB segment. The issue closes on 12th November.

As of close of 11th November, out of the 175.26 lakh shares on offer in the IPO, Latent View Analytics saw bids for 4,069.77 lakh shares. This implies an overall subscription of 23.22X. The granular break-up of subscriptions was dominated by the retail investors followed by HNIs. QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.

Latent View Analytics IPO Subscription Day-2

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

3.51 Times

Non Institutional Investors (NII)

33.29 Times

Retail Individuals

69.56 Times

Employees

2.61 Times

Overall

23.22 times

 

QIB Portion

The QIB portion of the IPO was subscribed 3.51 times at the end of Day-2. On 09th November, Latent View Analytics did an anchor placement of 1,35,53,898 shares at the upper end of the price band of Rs.197 to 34 anchor investors raising Rs.267.01 crore. The list of QIB investors included a number of marquee global names like Abu Dhabi Investment Authority (ADIA), Ashoka India Fund, Hornbill Orchid and Wellington Fund. Domestic anchor investors included Birla Mutual Fund, Axis MF, ICICI Pru MF, Kotak MF, Mirae MF, SBI Life, Bajaj Allianz, UTI MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 93.68 lakh shares of which it has got bids for 329.08 lakh shares, implying a subscription ratio of 3.51X for QIBs at the close of Day-2. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement forebodes well for the Latent View IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 33.29X (getting applications for 1,559.22 lakh shares against the quota of 46.84 lakh shares). This is a strong response on Day-2 because this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO. 

Retail Individuals

The retail portion was subscribed an impressive 69.56X at the end of Day-2, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 31.23 lakh shares on offer, valid bids were received for 2,172.32 lakh shares, which included bids for 1,741.32 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.190-Rs.197) and will close for subscription on 12th November 2021.

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Fino Payments Bank IPO Lists at Discount and Stays Lower

Fino Payments Bank IPO Lists at Discount and Stays Lower
by 5paisa Research Team 12/11/2021

Fino Payments Bank had a weak listing on 12th November and listed at a discount of -5.66%, and closed the day below the listing price. While the stock did show a bounce during the day, it failed to hold on to higher levels.

With overall subscription of just 2.03X and limited trading interest in the GMP market, the listing was expected to be weak.
 

Here is the Fino Payments Bank listing story on 12-Nov


The Fino Payments Bank IPO price was fixed at the upper end of the band at Rs.577 despite the mere 2.03X subscription. The price band for the IPO was Rs.560 to Rs.577.

On 12th Nov, the stock of Fino Payments Bank listed on the NSE at a price of Rs.544.35, a discount of -5.66% below the issue price of Rs.577. On the BSE, the stock listed at Rs.548 a discount of -5.03% on the issue price.

On the NSE, Fino Payments Bank closed on 12-Nov at a price of Rs.535.45, a first day closing discount of -7.2% on the issue price. On the BSE, the stock closed at Rs.545.25, a first day closing discount of a more moderate -5.5% on the issue price.

On both the exchanges, the stock not only listed below the IPO price but closed Day-1 below the listing price. On Day-1 of listing, Fino Payments Bank touched a high of Rs.582.95 on the NSE and a low of Rs.511.05. The damage was limited below the listing price.

Check - Fino Payments Bank - Subscription Day 1

On Day-1 of listing, the Fino Payments Bank stock traded a total of 101.13 lakh shares on NSE amounting to value of Rs.548.25 crore. It did not feature among the top trades on value or on volumes on NSE.

On the BSE, Fino Payments Bank touched a high of Rs.583.35 and a low of Rs.510.80. On BSE, the stock traded a total of 6.24 lakh shares amounting to value of Rs.33.85 crore. It was not among the most active shares on the BSE.

At the close of Day-1 of listing, Fino Payments Bank had a market capitalization of Rs.4,537.26 crore with free-float market cap of just Rs.635.22 crore.

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Go Fashion (India) IPO - 7 Things to Know

Go Fashion (India) IPO - 7 Things to Know
by 5paisa Research Team 12/11/2021

The IPO of Go Fashion (India) will open for subscription on 17th November and close for subscription on 22nd November. Go Fashion is a highly popular women’s wear brand which has been in existence in India since 2010 catering more to the urban women. Here is the gist of the story.
 

7 things to know about the Go Fashion (India) IPO


1) Incorporated in the year 2010, Go Fashion (India) specializes in women’s bottom-wear segment and is the largest organized player in this niche. It handles the complete value chain from design, development, sourcing, marketing and retailing of these bottom-wear brands across the length and breadth of India.

2) It has a wide portfolio of women’s bottom-wear and its portfolio consists of over 50 styles across 120 colours. It distributes through its proprietary 450 exclusive brand outlets (EBOs) as well as through large format stores like Reliance Retail, Globus, Spencer’s Retail, Unlimited etc.

3) The Rs.1,014 crore IPO will comprise of a fresh issue of Rs.125 crore and an offer for sale of Rs.889 crore. The IPO has been priced in the band of Rs.655 to Rs.690 with a market lot size of 21 shares. The promoter families will be offloading shares in the IPO while Sequoia capital has 28.7% stake in Go Fashion (India).

4) The Go Fashion IPO opens for subscription on 17th November and closes on 22nd November. The basis of allotment will be finalized on 25th November while the refunds will be initiated on 26th November. The shares will be credited to the demat accounts of eligible allottees on 29th November while the shares will list on NSE and BSE on 30th November.

5) The IPO proceeds will be used to essentially add 120 new exclusive brand outlets (EBOs) across India and expand presence beyond the current 23 states. The funds will also be used for working capital and general corporate purposes.

6) For FY21, Go Fashion (India) reported revenues of Rs.282.25 crore, which was lower than the Rs.396.84 crore reported in FY20. That was the impact of the pandemic and FY22 is expected to revert to growth. The company had made a small loss in FY21 as against profits in FY20 and FY19, largely due to the COVID led slowdown.

7) With 450 EBOs and 1,332 large format store partnerships, the company has substantial reach and a strong niche brand to back it up. Its operating economics and its multi-channel distribution, including strong digital focus, will be a major advantage in growing sales. The issue will be lead managed by DAM Capital, ICICI Securities and JM Financial.

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Latent View Analytics IPO - Subscription Day 3

Latent View Analytics IPO  - Subscription Day 3
by 5paisa Research Team 12/11/2021

The Rs.600 crore IPO of Latent View Analytics, consisting of a fresh issue of Rs.474 crore and an offer for sale (OFS) of Rs.126 crore, saw robust response on Day-1 and Day-2 of the IPO. As per the combined bid details put out by the BSE at the close of Day-3, Latent View Analytics IPO was subscribed 326.49X overall, with strong demand coming from the HNI, QIB and retail segment, in that order. The issue has closed on 12th November.

As of close of 12th November, out of the 175.26 lakh shares on offer in the IPO, Latent View Analytics saw bids for 57,218.83 lakh shares. This implies an overall subscription of 326.49X. The granular break-up of subscriptions was dominated by the HNIs followed by QIBs and retail investors. QIB bids and NII bids gathered tremendous momentum on the last day, as is the normal trend in the IPO market.
 

Latent View Analytics IPO Subscription Day-3
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

145.48 Times

Non Institutional Investors (NII)

850.66 Times

Retail Individuals

119.44 Times

Employees

3.87 Times

Overall

326.49 times

 

QIB Portion

The QIB portion of the IPO was subscribed 145.48 times at the end of Day-2. On 09th November, Latent View Analytics did an anchor placement of 1,35,53,898 shares at the upper end of the price band of Rs.197 to 34 anchor investors raising Rs.267.01 crore.

Check - Latent View Analytics IPO subscription Day-2

The list of QIB investors included a number of marquee global names like Abu Dhabi Investment Authority (ADIA), Ashoka India Fund, Hornbill Orchid and Wellington Fund. Domestic anchor investors included Birla Mutual Fund, Axis MF, ICICI Pru MF, Kotak MF, Mirae MF, SBI Life, Bajaj Allianz, UTI MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 93.68 lakh shares of which it has got bids for 13,628.43 lakh shares, implying a subscription ratio of 145.48X for QIBs at the close of Day-3. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement for the Latent View Analytics IPO had already indicated at a strong QIB appetite for the IPO.

HNI / NII Portion

The HNI portion got subscribed 850.66X (getting applications for 39,846.85 lakh shares against the quota of 46.84 lakh shares). This is a very strong response on Day-3 although this segment normally does sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO.

Retail Individuals

The retail portion was subscribed an impressive 119.44X at the end of Day-2, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 31.23 lakh shares on offer, valid bids were received for 3,729.97 lakh shares, which included bids for 2,967.39 lakh shares at the cut-off price.

The IPO is priced in the band of (Rs.190-Rs.197) and has closed for subscription on 12th November 2021.

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Droom Files DRHP for Rs.3,000 crore IPO

Droom Files DRHP for Rs.3,000 crore IPO
by 5paisa Research Team 15/11/2021

Droom Technologies has filed its draft red herring prospectus (DRHP) with SEBI to raise Rs.3,000 crore via the IPO route. The IPO will comprise of a fresh issue of Rs.2,000 crore and an offer for sale of Rs.1,000 crore. The company is also planning a pre-IPO placement of Rs.400 crore and if successful, it would reduce the IPO amount proportionately.

Interestingly, Droom will be the second online automobile market place after CarTrade Tech to launch an IPO. CarTrade had done an offer for sale in August this year, but its performance has not been too exciting after listing and continues to quote at a 31% discount to the issue price.

Droom also offers an online agnostic auto market place with value added content to help people make car buying and selling decisions scientifically.

The OFS of Rs.1,000 crore will be offered by its parent company Droom Pte Ltd, which is based out of Singapore. The parent may also look to place part of the issue privately considering the unique nature of the industry. The platform offers the purchase and sale of first-hand and second-hand four-wheelers and also two-wheelers.

Droom was founded by Sandeep Agarwal in 2014 and offers a palate of over 250,000 vehicles to buy and sell on its platform. The user base is spread across more than 1000 towns and cities across the length and breadth of India.

Droom offers advantages to users like a huge choice of vehicles, best price based model, agnostic buy and sell platform, choice of used and new vehicles, over 1100 inspection points and easy loan and insurance.

Out of the fresh issue component of Rs.2,000 crore, Droom plans to deploy nearly Rs.1,100 crore for funding its organic growth via expansion of the franchise. Another Rs.400 crore will be used towards inorganic expansion where Droom will look for niche mergers and acquisitions to expand its missing blocks in the most efficient way.

The DRHP approval process normally takes up to 2 months and after that the process of filing RHP will be taken up simultaneously with the IPO execution. The Droom IPO will be lead managed by ICICI Securities, Axis Capital, Edelweiss, HSBC and Nomura. KFIN Technologies (formerly Karvy Computershare) will be the registrars to the IPO.

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