Shares of four SME companies, Maxwell Engineering Solutions, HGS (India), Vectras Enprocon and Johnsoncab Electricals — made their stock market debut on Friday, November 6. Together, the companies raised around Rs 201 crore through their respective initial public offerings (IPOs).
Maxwell Engineering Solutions made a blockbuster debut on the NSE SME platform, listing at Rs 300, a 90% premium over its IPO issue price of Rs 158.
HGS (India) shares also delivered strong listing gains, opening at Rs 160 on the NSE SME platform, up 40% from the issue price of Rs 120.
Johnsoncab Electricals made its debut on the BSE SME platform at Rs 238, marking a 19% premium over its IPO price of Rs 200.
In contrast, Vectras Enprocon made a flat debut on the BSE SME platform, listing at Rs 106 against its issue price of Rs 105.
Here’s everything you need to know about their IPO:
Maxwell Engineering Solutions raised Rs 57.64 crore through its book-built IPO, comprising an entirely fresh issue of 36.48 lakh shares, with no offer-for-sale (OFS) component.
The IPO was subscribed 536.80 times overall. The individual investors' portion was subscribed 556.09 times, while the QIB (Ex-Anchor) and NII categories received bids 259.45 times and 857.65 times their respective quotas.
The company had fixed the price band at Rs 150-158 per share, with a lot size of 800 shares. Retail investors were required to apply for a minimum of two lots, or 1,600 shares, translating into an investment of Rs 2,52,800 at the upper end of the price band.
The shares are scheduled to list on the NSE SME platform.
JDA Capital Services Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.
HGS (India) raised Rs 34.56 crore through its book-built IPO. The issue comprised a fresh issue of 23.26 lakh shares worth Rs 27.91 crore and an OFS of 5.54 lakh shares aggregating Rs 6.65 crore.
The public issue attracted strong investor demand, with an overall subscription of 248.58 times. The individual investors' category was subscribed 235.72 times, while QIB (Ex-Anchor) and NII portions received bids 137.92 times and 424.67 times their respective quotas.
HGS (India) had fixed its price band at Rs 114-120 per share, with a lot size of 1,200 shares. Retail investors were required to apply for a minimum of two lots, or 2,400 shares, involving an investment of Rs 2,88,000 at the upper price band.
The company is set to list on the NSE SME platform.
Hem Securities Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.
Vectras Enprocon mobilised Rs 53.05 crore through its book-built IPO. The issue consisted of a fresh issue of 40.56 lakh shares worth Rs 42.59 crore and an OFS of 9.96 lakh shares aggregating Rs 10.46 crore.
The IPO received a relatively moderate response, with an overall subscription of 4.20 times. The individual investors' category was subscribed 4.45 times, while the QIB (Ex-Anchor) and NII categories received bids 1.88 times and 6.69 times their respective quotas.
The company had set the price band at Rs 99-105 per share, with a lot size of 1,200 shares. Retail investors were required to apply for at least two lots, or 2,400 shares, translating into an investment of Rs 2,52,000 at the upper end of the price band.
Vectras Enprocon is scheduled to debut on the BSE SME platform.
Beeline Capital Advisors Pvt. Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.
Johnsoncab Electricals raised Rs 56.02 crore through its book-built IPO, which comprised an entirely fresh issue of 28.01 lakh shares, with no OFS component.
The issue was subscribed 23.82 times overall. The individual investors' category received bids 17.98 times its allotted quota, while the QIB (Ex-Anchor) and NII portions were subscribed 20.19 times and 42.27 times, respectively.
Johnsoncab Electricals had fixed the price band at Rs 190-200 per share, with a lot size of 600 shares. Retail investors were required to apply for a minimum of two lots, or 1,200 shares, involving an investment of Rs 2,40,000 at the upper price band.
The shares are scheduled to list on the BSE SME platform.
ISK Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar to the issue.
