Tonbo vs Bonfiglioli vs Zetwerk vs Sahajanand IPO: Which issue offers best allotment odds; fresh GMP 

Four IPOs namely- Tonbo Imaging India, Bonfiglioli Transmissions, Zetwerk Manufacturing Business and Sahajanand Medical Technologies close for subscription on Monday, October 19. These issues cumulatively raised nearly Rs 8,900 crore from investors, witnessing subscription, during their three day bidding period of October 15-19.

Tonbo Imaging India turned out to be most subscribed issue with nearly 136 times subscription for its Rs 852 crore issue. It attracted bids worth for more than Rs 81,100 crore, through 55.24 lakh application. The issue was sold in the range of Rs 665-700 per share with a lot size of 21 shares. It was commanding a grey market premium (GMP) of Rs 500-510 apiece, suggesting 72-75 per cent gains.

Based on the bidding, here are the allotment odds for the Tonbo Imaging India IPO:

• Big HNI category (bNII): 2 investors out of 73 investors will get 294 shares (Probability: 2.74 per cent)
• Small HNI category (sNII): 1 investors out of 135 investors will get 294 shares (Probability: 0.74 per cent)
• Retail category: 1 investors out of 25 investors will get 21 shares (Probability: 4 per cent)

The Rs 2,534 crore IPO of Bonfiglioli Transmissions was overall subscribed 46 times, getting more than 34.45 lakh applications and drawing bids for Rs 81,725 crore. It sold its shares of Rs 558-586 per share with a lot size of 25 equity shares. Its GMP stood at Rs 125-130 per share, suggesting a 21-22 per cent listing gains for the investors. 

Based on the bidding, here are the allotment odds for the Bonfiglioli Transmissions IPO:

• Big HNI category (bNII): 2 investors out of 19 investors will get 350 shares (Probability: 10.52 per cent)
• Small HNI category (sNII): 1 investors out of 27 investors will get 350 shares (Probability: 3.70 per cent)
• Retail category: 4 investors out of 21 investors will get 25 shares (Probability: 19.05 per cent)  

Sahajanand Medical Technologies, which raised Rs 475 crore from its IPO, was overall subscribed 14.20 times. It attracted more than 3.22 lakh applications and bids worth Rs 4,764 crore. The company sold its shares for Rs 327-344 apiece with a lot size of 43 equity shares. Last heard, it was commanding a GMP of Rs 25-30, suggesting a listing gains of 7-9 per cent for the investors.

Based on the bidding, here are the allotment odds for the Sahajanand Medical Technologies IPO:

• Big HNI category (bNII): 4 investors out of 13 investors will get 602 shares (Probability: 30.77 per cent)
• Small HNI category (sNII): 1 investors out of 27 investors will get 350 shares (Probability: 9.52 per cent)
• Retail category: 1 investors out of 33 investors will get 43 shares (Probability: 33.33 per cent)

Zetwerk was the biggest issue among the four, raising Rs 5,012 crore from investors. It sold its shares in the range of Rs 143-151 apiece with a lot size of 99 shares. The issue was 3.06 times, getting bids worth Rs 8,550 crore through 2 lakh applications. Retail, big HNI and small NHI investors can expect full confirm and allotment. Its GMP stood at Rs 3-5, hinting at mild listing gains for investors.

Investors can check their application status on the exchange websites including NSE Ltd and BSE Ltd. Besides that, one can also check the application status on the official website of the registrar including MUFG Intime (Sahajanand Manufacturing Business and Bonfiglioli Transmissions)  and KFin Technologies Ltd (Tonbo Imaging Indian and Zetwerk Manufacturing Business).