Utkarsh IPO: Issue subscribed over 10 times on day 2 so far; retail investors steal the show

Seven public issues, including three mainstream IPOs and four SME IPOs, are set to hit the Indian markets this week. IdeaForge will open its much-awaited IPO for subscription on June 26th, offering equity shares of up to INR 240 crore and an offer for sale of 48.6 lakh shares. Meanwhile, Cyient DLM's IPO, offering equity shares for Rs 250-265 a piece, will open on June 27th while PKH Ventures will bring in an initial offering of up to 1.82 crore shares on June 30th. The SME space will also see four IPOs worth INR 107 crore in total.

Incorporated in 2016, Utkarsh commenced operations in 2017 and its product suite includes a range of deposit products, including saving accounts, salary accounts, current accounts, recurring and fixed deposits and locker facilities.

Netweb Technologies IPO subscribed 27.36 times on Day 3 so far. Retail investors subscribed 14.50 times, employees 36.27 times, NIIs 53.84 times, and QIBs 30.10 times.

The IPO was subscribed 5.44 times, led by retail investors. About 75% of the offer was reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors and 10% for retail investors.

IREDA IPO consists of a fresh issue of up to 40.3 crore equity shares and an offer for sale (OFS) of up to 26.8 crore equity shares by the government. About 50% of the IPO will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.

Promoters of IndoStar Capital Finance propose to sell up to 1,93,40,000 equity shares representing 14.21% of the total paid-up equity shares with a face value of ₹10.00. The floor price of the offer will be be ₹ 95 per equity share

Spectrum Talent Management's initial public offering (IPO) was subscribed 1.05 times on Day 2, with bids received for 60,88,000 shares against 6,077,600 shares on offer. The price band for the offering is set at ₹169 to ₹173 per share.

The company informed the bourses that it has allocated 57,87,780 equity shares at ₹311 per share on Tuesday, February 06, 2024, to anchor investors.

The portion for retail investors remains undersubscribed as investors bid only 0.92 times of the shares reserved for RIIs. The NII portion garnered 380% bids so far.

NEW DELHI: Capital Small Finance Bank on Tuesday collected Rs 157 crore from anchor investors a day before its initial public offering.