Urban Company vs Shringar vs Dev Accelerator: Check Day 2 subscription & GMPs of 3 IPOs

Three mainboard IPOs- Urban Company, Shringar House of Mangalsutra and Dev Accelerator- which kicked-off for bidding on Wednesday, September 10, continued to attract a strong response from the investors even on the second day of the bidding. All three issues will close for subscription on Friday, September 12.  

Urban Company: Day 2 bidding status and GMP According to data from BSE, the IPO of Urban Company was booked 5.05 times as of 11.35 am on Thursday, September 11. Investors had made bids for 53,86,75,725 equity shares against the overall net offering of 10,67,73,244 equity shares for the investors.

On an individual basis, the retail portion was booked 11.30 times, while quota for non-institutional bidders was subscribed 8.30 times. Allocation for qualified institutional bidders was booked 1.31 times and employees' quota was booked 9.01 times.

Urban Company is selling its shares in the range of Rs 98-103 apiece with a lot size of 145 equity shares. The company is looking to raise a total of Rs 1,900 crore via its IPO. Last heard, the company was commanding a grey market premium of Rs 38-39, suggesting a listing pop of 36-37 per cent for the investors.  

Shringar House of Mangalsutra: Day 2 bidding status and GMP The IPO of Shringar House of Mangalsutra was overall subscribed 3.87 times as of the given time. The issue attracted bids for 6,58,53,360 equity shares against the net offered issue size of 1,70,16,000 equity shares.

The portion for retail bidders was booked 5.23 times, while the allocation for non-institutional bidders was subscribed 6.05 times. Employees quota was subscribed over 14.58 times. However, qualified institutional bidders took a back seat as the portion fetched a subscription of only two per cent.

Mumbai-based jewellery player, Shringar House of Mangalsutra, is selling its shares for Rs 155-165 apiece in the multiples of 90 shares to raise a total of Rs 400.95 crore. It is a fresh issue of 2.43 crore equity shares. Its GMP has fallen from Rs 30 to Rs 27, hinting at 16 per cent gains for the investors.  

Dev Accelerator : Day 2 bidding status and GMP Smallest among the three, Dev Accelerator IPO was overall booked more than 9 times as of the same time. Investors made bids for 11,85,66,900 equity shares against the offered size of 1,31,47,075 equity shares as of the given time.

Allocation for retail bidders was subscribed a stellar 35.24 times, while non-institutional investors' quota was booked 7.91 times. The allocation for institutional bidders was booked 1.17 times. The reserved portions for eligible employees and shareholders were booked 3.91 times and 7.40 times as of the same time.

Coworking solutions company Dev Accelerator is selling its shares in the range of Rs 56-61 apiece in the multiples of 235 equity shares. The issue is entirely a fresh share sale of 2.35 crore equity shares worth Rs 143.35 crore. It has seen a correction in its GMP, which has fallen to Rs 8 from Rs 10. The latest GMP suggests a 13 per cent listing pop for the investors.