GK Energy, Saatvik Green, iValue, Ganesh CP, Atlanta: Subscription status & GMP for 5 IPOs

It is a busy week for primary market investors with as many as five mainboard issues currently open today, raising more than Rs 2,550 crore from investors. Interestingly as many as 10 more mainboard IPOs are set to open later this week, adding more to the ongoing IPO rush. The ongoing issue, so far, has received mixed response from the investors.

The IPO of iValue Infosolutions, which opened on Thursday, September 18, shall close for subscription on Monday, September 22. The company is offering its shares in the range of Rs 284-299 apiece, with a lot size of 50 equity shares. The company is raising Rs 560.29 crore via IPO, which is entirely an offer-for-sale (OFS) of 1,87,38,958 equity shares.

The IPO was overall subscribed 1.24 times as of 2.15 pm on Thursday. The portion for qualified institutional bidders (QIBs) was booked 1.55 times, while allocation for non-institutional investors (NIIs) was subscribed 99 per cent. Retail investors’ portion was booked 1.17 times. Last heard, its grey market premium dropped sharply to Rs 2 apiece, signaling flat listing for investors.

The IPOs of GK Energy and Saatvik Green Energy were having their day two of their bidding. Both issues opened on Friday, September 19 and concluded on Tuesday, September 23. GK Energy is selling its shares in the range of Rs 145-153 apiece with a lot size of 98 shares to raise Rs 464.26 crore. Saatvik Green is aiming to raise Rs 900 crore via IPO selling its shares in the range of Rs 442-465 apiece, in multiples of 32 shares.

The QIB portion for GK Energy was booked 2.35 times, while the same for Saatvik Green was booked only 1 per cent. The quotas for NIIs were subscribed 7.42 times and 1.18 times, while portions for retailers were booked 1.42 times and xx times, respectively. GK Energy’s GMP improved to Rs 25 apiece, suggesting 16 per cent listing pop, while Saatvik Green’s GMP was seen at Rs 18, a 4 per cent rise.

Atlanta Electricals and Ganesh Consumer Products launched their IPOs on Monday, September 22 and both issues will conclude on Wednesday, September 24. Atlanta Electricals is selling its shares for Rs 718-754 apiece with multiples of 19 shares to raise Rs 687.34 crore, while Rs 408.80 crore IPO of Ganesh Consumer Products is being sold in the range of Rs 306-322 apiece, with a lot size of 46 equity shares.

The IPO of Atlanta Electricals was overall booked 73 per cent of the given time. The QIB portion was fully subscribed, while the retailers portion saw bids for two-third of their allocation. NIIs portion was subscribed more than 58 per cent. However, its GMP has dropped to Rs 125 apiece from Rs 140 earlier, suggesting 17 per cent gains for the investors.

On the other hand, IPO of Ganesh Consumer Products was off to a muted bidding with NIIs portion getting only 3 per cent bids and retail quota getting 15 per cent subscription, with no bids for QIB portion. The issue was overall booked only 8 per cent as of the given time. Ganesh Consumers’ GMP stood at Rs 10 apiece, hinting at 4 per cent gains for the investors.