Urban Company vs Shringar vs DevX: Which IPO offers best allotment odds for investors?

Three IPOs Urban Company, Shringar House of Mangalsutra and Dev Accelerator (DevX), which saw a solid response from investors during the bidding process, have now left investors wondering what are the odds of getting the allotment of shares for these issues, after a strong bidding for the issues. Investors are looking, where they stand the best chance of share allotment.

All three IPOs received a strong response from investors. In terms of fetching the number of applications and bidding amount, Urban Company topped the other two, fetching nearly Rs 44.92 lakh applications bidding for shares Rs 1.14 lakh crore. Shringar was subscribed over 60 times, getting 23.85 lakh applications with a bidding worth of Rs16,927 crore. M&B Engineering IPO was booked nearly 64 times.

The QIB portion for Urban Company was booked over 140 times, while it crossed 101 mark for Shringar also. NIIs portion for Urban Company was booked 74.04 times, while Shringar's bidding stood at 82.58 times. Retail book was subscribed 39.25 times and 27.22 times, respectively. For DevX, QIB, retail and HNI portions were booked 20.30 times, 164.72 times and 87.97 times, respectively.

Here is the tentative odds allotment matrix in all thee IPOs for the investors:  

Urban Company IPO

• Big HNI category: 1 investors out of 17 investors will get 2,030 shares (Probability: 5.88 per cent)
• Small HNI category: 1 investor out of 57 investors will get 2,030 shares (Probability: 1.75 per cent)
• Retail category: 2 investors out of 61 investors will get 145 shares. (Probability: 3.28 per cent)

Thus, big HNIs investors hold the best chance of allotment in the Urban Company IPO  

Shringar House of Mangalsutra IPO

• Big HNI category: 1 investors out of 17 investors will get 1,260 shares (Probability: 5.88 per cent)
• Small HNI category: 1 investor out of 77 investors will get 364 shares (Probability:1.30 per cent)
• Retail category: 1 investor out of 23 investors will get 90 shares. (Probability: 4.35 per cent)

Thus, Big HNI investors hold the best chance of allotment in the Shringar IPO  

Dev Accelerator IPO

• Big HNI category: 2 investors out of 31 investors will get 3,290 shares (Probability: 6.45 per cent)
• Small HNI category: 2 investors out of 203 investors will get 3,290 shares (Probability: 0.98 per cent)
• Retail category: 2 investors out of 277 investors will get 235 shares. (Probability: 0.85 per cent)

Thus, big HNIs investors hold the best chance of allotment in the Dev Accelerator IPO  

All the three IPOs of Urban Company, Shringar House of Mangalsutra and Dev Accelerator were open for bidding between September 10-12. These three companies raised a nearly Rs 2,445 crore. Urban Compnay is the largest among the issues, raising over Rs 1,900 crore by selling its shares of Rs 103 apeice. Shringar's Rs 400.95 crore IPO was sold at Rs 165 per share and DevX's Rs 143.35 crore IPO for Rs 61 per share.

Grey market premiums (GMP) for all three IPOs have remained firm, in fact risen. Urban Company is commanding a GMP of Rs 67 apiece, suggesting a listing pop of 64 per cent. Its premium stood at Rs 35-45 during the bidding phase. Shringar's GMP has risen to Rs 31-32 from Rs 25 earlier, signalling 19 per cent gains. M&B Engineering's IPO is firmf at Rs 10, hinting at 16 per cent gains.