SRIT India, Shah Investor's Home make positive D-st debut; both stocks list at premium

Two companies including SRIT India and Shah Investor's Home will make their stock market debut today, that is, Tuesday, October 06. Both the issues were open for subscription between September 28 and September 30, cumulatively raising Rs 308 crore from their maiden stake sales. Here's how listings fared for these companies:

SRIT India
Shares of SRIT India made a decent stock market debut on Tuesday, October 06 after the IT solutions company was listed at a premium of 13.85 per cent at Rs 148 on BSE Ltd, against the issue price of Rs 130. Similarly, the stock was settled with a premium of 7.54 per cent over the given issue price Rs 139.80 on NSE Ltd in its maiden trading session.

As of the listing price, investors make a profit of Rs 2,070 on each lot allotted to them. Listing of SRIT India has been much below the expectations. Last heard, the company was commanding a grey market premium of Rs 60-62 apeice, suggesting a listing pop of 46-48 per cent for the investors. Its premium stood around Rs 50-55 range since the issue closed for bidding.

The IPO of SRIT India was sold in the price band of Rs 123-130 apiece, with a lot size of 115 equity shares and its multiples thereafter. It raised a total of Rs 218 crore via IPO, with issue being overall subscribed a solid 125.16 times, fetching 40.98 lakh applications. Choice Capital Advisors was the sole book running lead manager and Kfin Technologies Ltd served as the registrar of the issue.

Shah Investor's Home
Shares of Shah Investor's Home made a muted stock market debut on Tuesday, October 06 after the retail broking player was listed at a premium of 2.4 per cent at Rs 171 on both NSE and BSE, against the issue price of Rs 167. As of the listing price, investors make a profit of Rs 340 on each lot allotted to them.

Listing of Shah Investor's Home has been below the expectations. Last heard, the company was commanding a grey market premium of Rs 15-17 apeice, suggesting a listing pop of 9-10 per cent for the investors. Its premium stood around Rs 12-15 range during the bidding period.

The IPO of Shah Investor's Home was sold in the price band of Rs 159-167 apiece, with a lot size of 85 equity shares and its multiples thereafter. It raised a total of Rs 90 crore via IPO, with issue being overall subscribed a solid 38.12 times, fetching nearly 4.2 lakh applications. Beeline Capital Advisors was the sole book running lead manager and MUFG Intime India was appointed as registrar.