Saakshi Medtech and Panels IPO Subscribed at 91.65 times

Saakshi Medtech and Panels IPO Subscribed at 91.65 times
Saakshi Medtech and Panels IPO Subscribed at 91.65 times

by Tanushree Jaiswal Last Updated: Sep 28, 2023 - 03:12 pm 382 Views
Listen icon

About the Saakshi Medtech and Panels IPO

The IPO of Saakshi Medtech and Panels Ltd opened for subscription on 25th September 2023 and closed on 27th September 2023. The company stock has a face value of ₹10 per share and the IPO price band for the issue has been set in the range of ₹92 to ₹97 per share. The IPO of Saakshi Medtech and Panels Ltd entirely comprises only of a fresh issue with no offer for sale. As part of the fresh issue portion of the IPO, Saakshi Medtech and Panels Ltd will issue 46,56,000 shares (46.56 lakh shares), which at the upper IPO price band of ₹97 per share aggregates to ₹45.16 crore. Since there is no offer for sale (OFS), the overall IPO will also entail the issue of 46,56,000 shares (46.56 lakh shares) worth ₹45.16 crore.

The minimum lot size for the IPO investment will be 1,200 shares. Thus, retail investors can invest a minimum of ₹116,400 (1,200 x ₹97 per share) in the IPO. That is also the maximum that the retail investors can invest in the IPO. HNI / NII investors can invest a minimum of 2 lots comprising of 2,400 shares and having a minimum lot value of ₹232,800. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. Saakshi Medtech and Panels Ltd will deploy the funds for capex in its core business. Post the IPO, the promoter equity in the company will get diluted from 100.00% to 73.63%. The issue is lead managed by Hem Securities Ltd, while Bigshare Securities Private Ltd will be the registrars to the issue.

Final subscription status of Saakshi Medtech and Panels IPO

Here is the subscription status of the Saakshi Medtech and Panels IPO as at close on 27th September 2023.




Bid for

Total Amount
(₹ Cr.)

QIB Investors










Retail Investors










Total Applications : 97,885 (75.88 times)

As can be seen from the above table, the overall IPO of Inspire Films got subscribed 91.65 times. The HNI / NII portion led the stakes with 200.78 times subscription, followed by the Retail portion at 75.88 times and the QIBs at 37.35 times. That is a very good response to an SME IPO, especially if you consider the median subscriptions that similar other SME IPOs have got in the past.

Allocation quota for various categories

The issue was open for retail investors, QIBs and for the HNI / NIIs. There was a broad quota designed for each of the segments viz. the QIBs, the retail and the HNI NII. The table below captures the allocation reservation done for each of the categories out of the total number of shares offered in the IPO. A total of 2,35,200 shares were allocated as market maker portion to Hem Finlease Ltd, which will act as a market maker to provide bid-ask liquidity on the counter post listing. Market maker action not only improves liquidity in the counter but also reduces the basis risk.

Anchor Investor Shares Offered

13,24,800 shares (28.45%)

Market Maker Shares Offered

2,35,200 shares (5.05%)

QIB Shares Offered

8,84,400 shares (18.99%)

NII (HNI) Shares Offered

6,63,600 shares (14.25%)

Retail Shares Offered

15,48,000 shares (33.25%)

Total Shares Offered

46,56,000 shares (100.00%)

As can be seen, from the above table, the company had allocated 13.248 lakh shares or 28.45% of the original issue size to anchor investors. The anchor allotment was done a day ahead of the IPO opening and the entire anchor allocation was spread across 9 anchor investors. The anchor allocation was done at the upper end of the price band at ₹97 per share, which includes a premium of ₹87 per share.

How subscription built up for the Saakshi Medtech and Panels IPO

The oversubscription of the IPO was dominated by the HNI / NII category followed by the Retail category and the QIB investors in that order. The table below captures the day-wise progression of the subscription status of Saakshi Medtech and Panels Ltd IPO.






Day 1 (September 25, 2023)





Day 2 (September 26, 2023)





Day 3 (September 27, 2023)





It is clear from the above table that while the retail portion and the HNI / NII portion got fully subscribed on the first day of the IPO itself, even the QIB portion got fully subscribed on the first day of the IPO itself. However, all the 3 categories saw bunching of flows on the last day of the IPO. The overall IPO was also fully subscribed on the first day itself although most of the traction was seen on the last day. All the 3 categories of investors viz., HNIs / NIIs, retail and QIB categories saw good traction and build-up of interest on the last day of the IPO.  Post the IPO listing, the market maker will offer two way quotes on the stock, using the inventory of shares, and ensure that investors do not have to worry about liquidity and basis risk. The basis of allotment will be finalized on 03rd October 2023 while the stock is expected to be listed on 06th October 2023.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
IREDA IPO debuts on NSE with a 56.25% premium, triggering a 20% upper circuit

Indian Renewable Energy Development Agency Ltd (IREDA) had a very robust listing on 29th November 2023

Siemens Q4 Revenue Surges 25%, Board Declares ₹10/Share Dividend

Engineering and automation giant Siemens Ltd reported a 49.8% YoY surge in net profit, reaching ₹571.6 crore for the fourth quarter ending September 30, 2023. The company operates on an October-September financial year and declared this information in a recent regulatory filing.

Alipay Plans Zomato Stake Sale: 3.4% via Block Deal, Stock Surge

In the early deals on Wednesday, November 29, shares of food services aggregator Zomato saw a gain of up to 3.69%, reaching ₹118.