Urban Company vs Shringar vs Dev Accelerator: Check Day 1 subscription & GMPs of 3 IPOs

Three mainboard IPOs- Urban Company, Shringar House of Mangalsutra and Dev Accelerator, opened for bidding today, on Wednesday, September 10. All the three issues saw a strong demand and managed to sail through within three-hours of bidding on day one. All three issues will close for bidding on Friday, September 12 .

Dev Accelerator issue was subscribed more than thrice in the initial three hours, thanks to the all-round bidding. The QIB portion was booked 1.45 times, while allocation for retailers and NIIs were subscribed 10.92 times and 1.98 times, respectively. As per data from BSE, the investors made bids for 4,08,44,175 equity shares, or 3.11 times, by 1.20 pm compared to the 1,31,47,075 equity shares offered.

Dev Accelerator is selling its shares in the price band of Rs 56-61 apiece. Investors can apply for a minimum of 235 shares and its multiples thereafter. It is looking to raise Rs 143.35 crore via IPO, which is entirely a fresh share sale of up to 2,35,00,000  equity shares.

Similarly, Shringar House of Mangalsutra's issue was subscribed 1.06 times and Urban Company primary offering was booked 1.77 times as of the given time. For Shringar's issue, retail and NIIs portions were booked 1.59 times and 1.19 times, respectively but the QIB portion did not see major bids. Retail portion in Urban Company IPO was booked 4.33 times, while NIIs allocation saw 1.91 times bids. The QIB portion was booked 83 per cent.

Urban Company is eyeing to raise a total of Rs 1,900 crore via IPO, by selling its shares in the price band of Rs 98-103 apiece, with a lot size of 145 shares. Shringar House of Mangalsutra is offering its shares in the range of Rs 155-165, with a lot size of 90 shares, to raise Rs 400.95 crore. It includes a fresh share sale of 2,43,00,000 equity shares.

All the three issues command a strong premium in the grey market. Urban Company's IPO is currently exchanging hands at Rs 37-38 apiece, suggesting gains of 37 per cent to the investors. Similarly, Shringar is commanding a GMP of Rs 30 apiece, signaling 18 per cent listing pop for the investors. DevX is trailing the pack in GMP terms, which its premium stands at Rs 9, signaling around 14 per cent gains for the investors.