<ul><li>The IPO was subscribed 97x times on the third and last day of the issue.</li><li>The QIB portion was subscribed 194 times while the NII portion was subscribed 126x.</li></ul>The initial public offer (IPO) of Mumbai-based Aeroflex Industries was subscribed 97 times over the shares on offer on the last day of the issue. Qualified institutional buyers (QIB) bid aggressively as this portion was subscribed 194 times. Non-institutional investor portion was subscribed 126 times. The retail portion was subscribed 34 times the shares on offer. The company had also raised ₹103.68 crore from anchor investors like Societe Generale, Nippon Mutual Fund, Invesco Mutual Fund, White Oak Mutual Fund, BOI Mutual Fund, and more. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIBs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">194.73 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">126.10 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.35 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97.07 </td></tr></tbody></table>Source: BSE The IPO opened for the public on August 22 and closed on August 24. It has fixed a price band of ₹102-108 per equity share. The ₹351 crore initial public offer (IPO) is a combination of fresh issue and offer-for-sale (OFS) with promoters and other shareholders offloading stake via the share sale. The net proceeds of the fresh issue will be utilised towards full or part repayment and/or prepayment of outstanding borrowings; funding working capital requirements and for general corporate purposes and unidentified inorganic acquisitions. About the company The company manufactures and supplies environmentally-friendly metallic flexible flow solution products to global as well as domestic markets from a single manufacturing facility in Taloja, Navi Mumbai. The flexible flow solutions include braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes and more. These solutions are used for transfer of substances be it air, liquid and solid — in any industrial or commercial ecosystem. They connect the origin and end points of various processes. For example, flow solution products are required in fire sprinklers, gas supply, fueling and hydraulics in aircrafts. No listed peers The company has no listed peers in India, but the segment it operates in is fragmented and diversified. It can face competition from other large and small global and domestic players. “Our company is not a wilful defaulter however, we went into settlement process and our company was categorised as wilful defaulter in the past, before the takeover of our Company by the present management,” the company said listing the risk factors. This is in relation to default of payment in 2011 with respect to consortium finance availed from State Bank of India, Axis Bank and others. Subsequently, in 2018, it was taken over by the present promoter under the settlement process, and all the outstanding amounts were paid off by them. “Our company has no dues payable to any lender forming part of the consortium including BoI and we have no dues certificate obtained from BoI and other lenders forming part of the consortium,” the company said.

Aeroflex IPO subscribed 97x with aggressive bids from institutional investors

<ul><li><keyword id="17028500" type="General" weightage="100" keywordseo="aeroflex-industries" source="Orion">Aeroflex Industries</keyword> is expected to announce its share allotment status today, August 29.</li><li>The shares of Aeroflex Industries were subscribed 97.11 times.</li><li>The shares are expected to be listed on the stock exchanges on August 31.</li></ul>Navi Mumbai-based<a href="https://www.businessinsider.in/stock-market/webstories/aeroflex-industries-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/102928921.cms"> Aeroflex Industries</a>, makers of environmentally-friendly metallic flexible flow solutions is expected to announce the allotment status of its initial public offering (IPO) today, that is August 29. The Aeroflex Industries IPO opened on August 22 and closed on August 24. The price band for the IPO was ₹102 to ₹108 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Aeroflex Industries IPO was subscribed 97.11 times, receiving bids for 225.46 crore equity shares against 2.32 crore shares on offer. While the qualified institutional buyer portion was subscribed 194.73 times, the non-institutional investors portion was subscribed 126.13 times. The retail portion witnessed good participation and was subscribed 34.41 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Aeroflex Industries are currently commanding a grey market premium (GMP) of ₹70 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="18569019" type="General" weightage="20" keywordseo="Aeroflex-Industries-IPO-allotment" source="Orion">Aeroflex Industries IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Aeroflex Industries’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Aeroflex Industries <keyword id="35223" type="General" weightage="20" keywordseo="ipo-allotment" source="Orion">IPO allotment</keyword> status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Aeroflex Industries’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Aeroflex Industries IPO listing date" comment="subhead" text="Aeroflex Industries IPO listing date">Aeroflex Industries IPO listing date</cmsannotation> The shares of Aeroflex Industries will be listed on the stock exchanges on August 31. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/honor-to-re-enter-the-indian-market-with-the-honor-90-smartphone-in-september/articleshow/103138615.cms">Honor to re-enter the Indian market with the Honor 90 in September</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-v29e-with-50mp-selfie-camera-launched-in-india-starting-at-rs-26999/articleshow/103128474.cms">Vivo V29e targets the selfie conscious in the sub-₹30,000 bracket</a> <a href="https://www.businessinsider.in/personal-finance/news/how-to-find-unclaimed-bank-deposits-using-udgam-portal/articleshow/102830161.cms">Have unclaimed bank deposits? Here’s how to find it using UDGAM portal</a>

Aeroflex Industries IPO allotment – how to check allotment, GMP, listing date and more

New Delhi, The initial share-sale of stainless steel flexible hose manufacturer <keyword id="18397444" type="General" weightage="50" keywordseo="aeroflex-industries-ltd" source="Orion">Aeroflex Industries Ltd</keyword> will open for public subscription on August 22. The initial public offering will conclude on August 24 and the bidding for anchor investors will open on August 21, according to the red herring prospectus (RHP). The IPO consists of a fresh issue of equity shares worth up to Rs 162 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter <keyword id="1516842" type="General" weightage="50" keywordseo="sat-industries" source="Orion">Sat Industries</keyword>. At present, promoter and promoter group members own over 91 per cent stake in the company. According to merchant banking sources, the size of the IPO is estimated at Rs 350 crore. Proceeds from the fresh issue will be utilised for payment of a debt, and funding working capital requirements, and a certain amount will be used for general corporate purposes and acquisitions for inorganic growth. The Mumbai-based <keyword id="1981201" type="General" weightage="100" keywordseo="aeroflex" source="Orion">Aeroflex</keyword> is a manufacturer and supplier of metallic flexible flow solution products, catering to global markets. It exports its products to more than 80 destinations, including Europe, the USA and others, and generates 80 per cent of its revenue from exports. For fiscal 2022, Aeroflex generated consolidated revenue from operations of Rs 240.8 crore and its profit after tax (PAT) was Rs 27.5 crore. <keyword id="3081095" type="General" weightage="50" keywordseo="pantomath-capital-advisors" source="Orion">Pantomath Capital Advisors</keyword> is the sole book-running lead manager to the issue. The company's equity shares are proposed to be listed on the BSE and NSE.

Aeroflex Industries IPO to open on Aug 22

IPO gold rush: All but 4 IPOs in FY24 gave positive returns on listing

<ul><li>The cumulative issue size has also grown from Rs 16,754 crore in 2018 to Rs 1,38,894 crore in 2021-22.</li><li> India’s <keyword id="6354763" type="General" weightage="100" keywordseo="ipo" source="Orion">IPO</keyword> boom can be attributed to India's strong economic growth, which is estimated to be 6.5-6.6%, much higher than the global average of 3%.</li><li>Globally, the IPO market has also been gaining momentum, with an increasing number of IPOs listed across countries. </li></ul> Primary markets are not for the faint-hearted, but in India investors cannot have enough of IPOs (initial public offerings). This trend has really caught on over the last five years. The IPO market has expanded significantly in the last five years, with the number of issues almost doubling during this period. According to analysis done by the economics team of Bank of Baroda, the cumulative issue size has also grown from Rs 16,754 crore in 2018 to Rs 1,38,894 crore in 2021-22. This indicates a growing demand for equities and reflects investors' confidence in the financial market. In 2023, the IPO market continued to show strong performance, with a cumulative issue size of Rs 37,768 crore and over 200 companies participating across industries. The industries that have been the biggest contributors in terms of issue size include pharmaceuticals, trading, port, hospital &amp; healthcare services, and retail sector. In India, the IPO market in 2022 saw a cumulative issue size of Rs 55,638 crore, with 151 companies participating across industries. Industries such as insurance, edible oil, courier service, and textile were the biggest contributors in terms of the issue size. Of the 93 firms with IPO listings in 2022, over 76 firms registered listing gains, while 16 were listed at a discount. According to BoB, India’s IPO boom can be attributed to India's strong economic growth, which is estimated to be 6.5-6.6%, much higher than the global average of 3%. The country's stable political climate and strong macroeconomic conditions have made it an attractive destination for investors, especially amidst the uncertainty in the global landscape and geopolitical tensions. Globally, the IPO market has also been gaining momentum, with an increasing number of IPOs listed across countries. In 2021, a total of 2,436 IPOs were listed globally, resulting in total proceeds of $460 billion. This indicates a rapid demand by investors and their affinity for the primary market. Industries such as pharma, insurance, healthcare, edible oil, and textile have contributed the most to the IPO market in the last few years. However, BoB’s report also cautions that the euphoria in the IPO market needs to be seen with caution, as it remains to be seen if it will continue in the upcoming election year. Overall, the IPO market in India has witnessed significant growth and investor interest in recent years. With a strong economy and favorable market conditions, the IPO market is expected to continue its upward trajectory. Tata Technologies, a Tata group company, made a remarkable debut on the stock exchanges, providing its investors with a whopping 162% listing gains. The stock listed at ₹1,314, which was significantly higher than its issue price of ₹500 per share. This surge in price resulted in a market capitalization of ₹53,314 crore, according to the Bombay Stock Exchange. The IPO of Tata Technologies garnered immense interest from investors, with the issue being subscribed 69 times over. The QIB portion of the issue saw a subscription of 200 times, while the non-institutional and retail investors' quotas were subscribed 62 times and 16 times, respectively. This overwhelming response indicates the strong demand for the stock. The grey market had anticipated listing gains of around 75%, but Tata Technologies surpassed expectations by delivering 162% gains. This exceptional performance has positioned it among the dream debuts of this year, alongside IdeaForge and Netweb Technologies. Analysts believe that Tata Technologies' well-established business model and the reputation of the Tata brand have contributed to the stock's popularity. The company's focus on engineering R&amp;D further adds to its appeal. The year 2023 has witnessed several stellar IPO listings, with IdeaForge Technology recording gains of 94%, Netweb Technologies at 89%, and Aeroflex Industries at 83%. Following closely behind are Vishnu Prakash R Punglia, Utkarsh Small Finance Bank, and Cyient DLM. Overall, Tata Technologies' remarkable debut and significant listing gains have generated substantial buzz in the IPO market.

IPOs 2023: The year of the market debutants

<ul><li>Strong IPO buzz and heavy marketing drive up listing gains of a few stocks, which should be encashed, advise experts.</li><li>Retail investors should refrain from participating in IPOs, and wait for six months for a stock to cool off.</li><li>Ideaforge, Netweb Technologies, Aeroflex Industries, Utkarsh Small Finance Bank gave good listing gains, but fell flat after. </li></ul>It’s been a fabulous week for investors who applied to initial public offers (IPOs) hoping to make a killing on listing day. Tata Technologies gave a stellar triple-digit listing gains, IREDA was very close to doubling wealth with 87% gains and small-cap stock Gandhar too presented a pleasant surprise with 78% gains. Those who were lucky enough to be allotted these stocks are left with the question — should I sell or hold on for more gains in the future? Experts say that bumper gains are a cue for them to make money, especially in stocks which saw sharp gains. “The recent IPOs of Tata Technologies, IREDA, Gandhar Oil were attractively priced. Therefore, they saw bumper gains on listing day. We believe that investors are better off by selling such shares and locking in listing gains. In most cases, stocks do give opportunity to re-enter at lower levels,” Apurva Sheth, head of market perspectives &amp; research at SAMCO Securities tells Business Insider India. ‘IPO value not true value’ The IPO season of 2023 has been rewarding for investors. The average listing gain has been 29.4% for debuts till the first half of the year, according to Primedatabase. But companies that saw stellar listing gains like Ideaforge shed a part of its value over time. The stock performance of other debut-stars like Netweb Technologies, Aeroflex Industries and Utkarsh Small Finance Bank has been tepid after stellar listing gains. Vishnu prakash R Punglia and Cyient DLM however are exceptions. Extremely high investor interest, heavy subscriptions in the IPO period can turn the needle away from true valuations and their future potential, experts insist. “IPOs generating a strong buzz due to a unique business model, effective publicity and good brand identity can post a fair listing gain even in the event of lower earnings visibility, as a result of high demand from investors. If an investor is subscribing to such IPOs, they should look to book listing gains,” Sunil Shah, group CEO and MD at Khambatta Securities tells Business Insider India. Sell (Gandhar), Hold (Tata Tech) &amp; Accumulate (IREDA) Amongst freshly listed pack of companies, Prashanth Tapse, senior VP of research at Mehta Equities advises allotted investors of Tata Tech to book 50% profits if the stock moves over ₹1,400 and hold the rest for long term, as he believes the engineering R&amp;D major is a potential ‘doubler candidate’. The stock had closed at ₹1,314 on its debut on Thursday. At the same time, Tapse sees limited upside from the current levels for Gandhar Oil, which has managed to narrow the gap with peers. He advises its investors to book profits. For IREDA, he advises investors to ‘hold for long term’ and accumulate on dips as it holds the potential to provide healthy long term returns. “Companies with strong fundamentals, i.e. those with a proven solid business model and robust earnings visibility, are the ones investors should look to stay invested in,” says Shah. Companies with the best listing gains in 2023 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns since listing </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">162% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IdeaForge Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">94% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Netweb Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">89% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IREDA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">87% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gandhar Oil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">78% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu prakash R Punglia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Utkarsh Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cyient DLM </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">54% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Axis Capital, BSE IPOs – not for retail investors The IPO rush tends to ignore facts like overpriced issues and other troubles. The reason being the <keyword id="10639565" type="General" weightage="20" keywordseo="ipo-financing" source="Orion">IPO financing</keyword> that large investors receive, who apply and sell immediately on allotment. But this liquidity leaves the stock, and that’s what drives prices down, insist experts. “IPO financing does drive up the demand for IPOs due to the additional liquidity it infuses, and it further brings in more investors looking for listing gains. That said, the recent curb on IPO financing imposed by the RBI and changes announced by SEBI relating to the allocation methodology are expected to negatively impact IPO financing,” said Shah. The impact of IPO financing driving up listing day gains is reducing. In April 2022, RBI mandated non-banking financial companies (NBFCs) to not lend more than ₹1 crore per borrower for subscribing in IPOs. Markets regulator SEBI too mandated to keep one third of the HNI quota shares for applicants below ₹10 lakh, which is also known as small HNI category. “All these measures led to considerable reduction in IPO financing. This has led to limited impact on the listing day,” says Sheth. Sheth also insists that IPOs are generally overpriced and retail investors are better off without participating in them. He insists that retail investors should get into newly listed six months after listing wherein the stock has had time to cool off and consolidate. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/minority-shareholders-must-grin-and-bear-it-when-promoters-wash-dirty-laundry-in-public/articleshow/105589325.cms">Minority shareholders must grin and bear it when promoters wash dirty laundry in public</a> <a href="https://www.businessinsider.in/entertainment/news/family-man-manoj-bajpayee-bats-for-movie-heroes-who-like-the-common-man/articleshow/105577006.cms">Family Man Manoj Bajpayee bats for movie heroes who look like ‘the common man’</a>

Stellar listing gains: Book profits if there are bumper gains say experts

<ul><li>Tata Tech stock listed at ₹1,314 as compared to its issue price of ₹500 per share.</li><li>Its marketcap stands at ₹53,314 crore, according to Bombay Stock Exchange.</li><li>Analysts see long-term gains in the stock and advise allotted investors to hold on to a portion of the shares. </li></ul>Tata Technologies stock zoomed on debut day, providing its investors with 162% listing gains. That’s more than what the grey market had anticipated at 75%. The stock listed at ₹1,314 as compared to its issue price of ₹500 per share. Its marketcap stands at ₹53,314 crore, according to Bombay Stock Exchange. After a break of 19 years, a Tata group company is listed on the stock exchanges, and has created enough buzz even before listing. The ₹3,042 crore issue is a complete offer for sale that was subscribed 69 times over, making investors rush for it on debut day. Tata Technologies also joined the coveted list of dream debuts like Ideaforge and Netweb Technologies. Here are some of the best listing gains provided by stock debuts this year. Companies with the best listing gains in 2023 <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IdeaForge Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Netweb Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu prakash R Punglia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Utkarsh Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cyient DLM </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr></tbody></table>Source: Axis Capital Possible wealth doubler says analyst The grey market has pegged Tata Tech’s IPO listing gains at over 70% — which is the most bullish it has been, this season. Also, its stellar subscription numbers might push people who have applied for the stock not allotted to try and buy on the first day. Tata Technologies IPO which broke a record with the number of applications is expected. The QIB portion of the issue was subscribed 200 times over the shares on offer. The non-institutional and retail investors’ interest paled in comparison as these quotas were subscribed 62 times and 16 times respectively. Thanks to the buzz, an analyst said that it could provide super-premium listing gains. Not only does the engineering R&amp;D player have a well-established business model, the Tata name worked wonders for the interest in the stock. “There is a high possibility that Tata Technologies can be a doubler candidate post listing. Given the growth potential in outsourcing, the business model would be in great demand going forward. We recommend allotted investors to book 50% profits over and above our expectations and retain the rest for the long-term,” said Prashanth Tapse, research analyst, senior VP of research at Mehta Equities.

Va va vroom: Tata Technologies stock doubles investor money on debut

<ul><li>The stock listed at ₹110 as compared to the issue price of ₹54 per share.</li><li>Its market cap is at ₹481 crore, according to Bombay Stock Exchange.</li><li>The company’s IPO was subscribed 161 times the shares on offer. </li></ul><keyword id="13803311" type="General" weightage="20" keywordseo="plaza-wires" source="Orion">Plaza Wires</keyword> listed on the bourses with a 103.7% premium on Thursday. The stock listed at ₹110 as compared to the issue price of ₹54 per share. However, the stock fell during the trading session, bringing down its net listing gains to 48.57%. This is close to what the grey market had predicted — 46% listing gains. The company’s market cap is at ₹481 crore according to Bombay Stock Exchange. The fast moving electric goods (FMEG) company’s initial public offer saw a stellar subscription. The issue was subscribed 161 times the shares on offer. Both retail and institutional investors bid aggressively for the issue. While most of the IPOs that have debuted this year have given good listing gains, there have been a few aberrations like Updater Services and Yatra Online where stocks have fallen on listing. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updater Services </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.3% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Infra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.5% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Signature Global </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sai Silks Kalamandir </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EMS Ltd </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.58% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">R R Kabel </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.6% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jupiter Life Line Hospitals </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rishabh Instruments </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.18% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratnaveer Precision Engineering </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu Prakash R Punglia </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">47% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pyramid Technoplast </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Supply Chain </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBFC </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Concord Biotech </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody></table> About Plaza Wires The Delhi based company raised ₹71.28 crore from the public issue. It had fixed a price band of ₹51-54 per share for the issue. The company plans to use the net proceeds from the issue to fund capex for opening a new manufacturing facility to broaden its product line, apart from working capital needs and general corporate purposes. The company sells LT aluminium cables and fast-moving electrical goods under Plaza brand. It has many brands under it like Action Wires and PCG. Its manufacturing facility in Baddi has an installed production capacity of 12,00,000 coils per annum. It has proposed to set up a manufacturing facility to add 8,37,000 coils per annum to manufacture new products such as fire proof/survival wires, LT aluminium cable and solar cables. The company’s business model engages dealer and distribution network via 1249 authorised representatives to sell and market the company's products, including sales through C&amp;F agents, securing government bids for supply to government projects, and direct sales to infrastructure projects. It competes with listed peers which includes Cords Cable Industries, Ultracab (India), V-marc India, Dynamic Cables, and Paramount Communications. The company reported 26% year-on-year growth in profit at ₹7.51 crore for FY23. Its net revenue from operations grew 3.2% to ₹182.4 crore in the same period.

Stellar debut: Plaza Wires stock closes with 48.5% listing gains

<ul><li>The stock fell steeply from its issue price on market debut.</li><li>Its market cap is ₹2,111 crore, as per Bombay Stock Exchange.</li><li>The ₹775 crore IPO was subscribed 1.6 times the shares on offer. </li></ul><keyword id="624860" type="General" weightage="20" keywordseo="yatra-online" source="Orion">Yatra Online</keyword>’s stock saw a volatile market debut on Thursday. Its price slipped over 8% early on as trading started but the fall was later stemmed to 5% as of 10:10 am. The stock gained during the session but the listing loss over its IPO price remained at 4%, at its closing price of ₹135. Its issue price is at ₹142, which is the upper end of the price band. The stock is one of the rare few to see negative listing gains during this very busy IPO season. Its market cap is ₹2,111 crore, as per Bombay Stock Exchange. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Signature Global </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sai Silks Kalamandir </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EMS Ltd </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.58% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">R R Kabel </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.6% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jupiter Life Line Hospitals </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rishabh Instruments </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.18% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratnaveer Precision Engineering </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu Prakash R Punglia </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">47% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pyramid Technoplast </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Supply Chain </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBFC </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Concord Biotech </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody></table> The ₹775 crore initial public offer was subscribed 1.6 times the shares on offer, on the last day of the subscription. Qualified institutional buyer (QIB) and retail portions were subscribed twice over, while non-institutional investor portion was not fully subscribed. The price band of the issue has been fixed at ₹135-142 per equity share. The IPO comprised a fresh issuance of shares worth ₹602 crore and an offer for sale (OFS) of up to 12,183,099 shares. It had undertaken a pre-IPO placement of ₹62.01 crore by way of rights issue and allotted 2,627,697 shares of face value ₹1 each to its promoter, THCL in December 2022. ‘Can gain from industry tailwinds’ Yatra Online offers access to hotels, homestays, and other accommodations through its platform. It is a one-stop shop for travellers, offering vacation packages as well as visa facilitation, tours, sightseeing, shows, and events. Proceeds from the fresh issue will be utilised towards strategic investments, acquisitions, and inorganic growth, customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes. The company claims to be India’s largest corporate travel services provider in terms of number of corporate clients. It is the third largest online travel company in India among key online travel agency (OTA) players in terms of gross booking revenue and operating revenue for FY23. The company’s revenues have been growing steadily for the last three years and has turned profitable in FY23, after cutting its losses progressively over two years. At the upper price band, the company is valued at a market-cap to sales ratio of 5.8 times as per its FY23 earnings. Its peer EaseMyTrip is valued at 15.7 times, as per Anand Rathi Securities. “We believe that for Yatra there is a scope of business improvement on the back of industry tailwinds, brand recall and business scalability, resulting in expansion of the EBITDA margin from here on,” the report said, adding that it recommends a ‘subscribe’ rating for the long term.

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