Powerica vs Amir Chand Jagdish Kumar vs Sai Parenteral's: Check biddings & GMPs of 3 IPOs

Three mainboard IPOs- Powerica, Sai Parenteral's and Amir Chand Jagdish Kumar (Exports)- which kicked-off for bidding on Tuesday, March 24, cumulatively raise nearly of Rs 1,950 crore, continued to attract a mixed response from the investors even on the second day of the bidding. All three issues will close for subscription on Friday, March 27.
 

Amir Chand Jagdish Kumar (Exports) IPO: Day 2 bidding status and GMP

According to data from BSE, the IPO of Amir Chand Jagdish Kumar (Exports) was booked 1.31 times as of 2.25 pm on Wednesday, March 25. Investors had made bids for 2,47,50,040 equity shares against the overall net offering of 1,89,05,270 equity shares. On an individual basis, the retail portion was booked 51 per cent, while quota for non-institutional bidders was subscribed 4.95 times. Allocation for qualified institutional bidders was booked 58 per cent.

Amir Chand Jagdish Kumar (Exports) is selling its shares in the range of Rs 201-212 apiece with a lot size of 70 equity shares. The company is looking to raise a total of Rs 440 crore via its IPO. Last heard, the company was commanding a grey market premium of Rs 6-7, suggesting a listing pop of 3-4 per cent for the investors.

Amir Chand Jagdish Kumar (Exports) is an India-based basmati rice processing and export company, catering both domestic and international markets, with a strong presence in export geographies such as the Middle East, Europe, and the United States. It ranks among the top three players by revenue in the Indian basmati rice segment, driven by its flagship “Aeroplane” brand, said Anand Rathi Research.

It plans to expand its presence across India, focusing on deeper penetration into tier 3 and tier 4 cities, which offer strong growth potential driven by rising incomes and increasing demand for branded food products. Considering these factors, the IPO appears fully valued and is rated 'subscribe for long term' rating," it added.
 

Powerica IPO: Day 2 bidding status and GMP

The IPO of Powerica was overall subscribed only 2 per cent as of the given time. The issue attracted bids for 4,03,596 equity shares against the net offered issue size of 2,05,55,171 equity shares. The portion for retail bidders and non-institutional investors were booked only 3 per cent and 1 per cent, respectively. Quota for QIBs was not event did not even off-the mark.

Mumbai-based power player, Powerica, is selling its shares for Rs 375-395 apiece in the multiples of 37 shares to raise a total of Rs 1,100 crore. It is a fresh issue of 700 crore equity shares and an offer-for-sale (OFS) of up to 1.01 crore equity shares worth Rs 400 crore. Its GMP has dropped to negligible, hinting at a muted listing for the investors.

Powerica is valued on an adjusted P/E of 28 times for FY25 EPS and 19 times for FY26E EPS annualized. Its topline has im-proved momentum in H1FY26, with strong demand visibility for DG sets driven by data centers and rising power demand, said Geojit Investments.

"Its wind energy business provides higher-margin potential, and strong relationships with global players further enhance growth prospects. With a healthy ROE of 17.5 per cent and an improved D/E ratio, the balance sheet should be able to support project execution in the wind sector. Hence, we assign a 'subscribe' rating for a long-term investment horizon," it added.
 

Sai Parenteral's IPO: Day 2 bidding status and GMP

Sai Parenteral's IPO was overall over 25 per cent as of the same time. Investors made bids for 18,85,560 equity shares against the offered size of 75,22,486 equity shares as of the given time. Allocations for retail bidders were subscribed only 4 per cent, while non-institutional investors' quota was booked 44 per cent. The allocation for qualified institutional bidders was booked 48 per cent.

Pharmaceuticals player Sai Parenteral's is selling its shares in the range of Rs 372-392 apiece in the multiples of 38 equity shares. The Rs 409 crore issue includes a fresh share sale of Rs 295 crore and offer-for-sale of 31.57 lakh shares worth Rs 124 crore. Its GMP has remained stable at zero since the announcement of the issue.

Sai Parenteral's is well-positioned with its diversified formulations portfolio, strong CDMO capabilities, and growing presence in regulated and semi-regulated markets, said Master Capital Services. "Its focus on quality manufacturing, regulatory compliance and strategic global expansion enables it to capitalize on emerging opportunities in the pharmaceutical industry."