IPO Alert: 7 Mainboard IPOs To Watch Next Week; Check Subscription Status, GMP, Closing Dates

India’s primary market is set for another busy week, with several IPOs either entering their final bidding days or opening for subscription. Orient Cables, Runwal Enterprises, AceVector, German Green Steel & Power, A-One Steels India and Moneyview, while SRIT India and Shah Investor’s Home are scheduled to open on September 28.

Orient Cables and German Green Steel & Power were already oversubscribed on Day 1, while Runwal Enterprises and AceVector saw relatively slower initial demand. Meanwhile, Moneyview had already crossed the overall subscription mark on its opening day.

Orient Cables IPO

The Rs. 552-crore Orient Cables IPO became one of the stronger Day 1 performers among the issues opening on September 25.
The issue was subscribed 1.96 times on September 25, according to exchange-linked data, with the retail portion at 2.43 times and the NII category at 3.48 times. The QIB portion, excluding anchors, stood at 0.01 times at the end of Day 1.

Orient Cables has fixed its price band at Rs. 258-272 per share, with a lot size of 55 shares. The IPO comprises a fresh issue of up to Rs. 320 crore and an offer for sale of up to Rs. 232 crore.

The issue will remain open until September 29, with allotment expected around October 1 and listing scheduled for October 5.

German Green Steel IPO

The Rs. 303.90-crore German Green Steel & Power IPO also received a strong initial response.

The issue was subscribed 1.73 times on September 25, with QIBs at 1.32 times, NIIs at 2.46 times and retail investors at 1.65 times.
The company has fixed the price band at Rs. 132-139 per share, with a lot size of 107 shares. The IPO closes on September 29, while the tentative listing date is October 5.

Runwal Enterprises IPO

Mumbai-based real estate developer Runwal Enterprises saw a comparatively slower start.

The Rs. 500-crore IPO was subscribed 0.42 times on Day 1. The QIB category was at 0.96 times, while NII and retail portions stood at 0.28 times and 0.18 times, respectively.

The company has fixed the price band at Rs. 290-305 per share, with a lot size of 49 shares. The IPO closes on September 29, with listing scheduled for October 5.

AceVector IPO

AceVector, the parent company of Snapdeal, also opened for subscription on September 25.

The Rs. 420-crore issue was subscribed 0.23 times at the end of Day 1. Retail investors subscribed 0.62 times their allocation, while the NII category was at 0.42 times. QIB participation had not started at the time of the reported Day 1 data.

The company has fixed the price band at Rs. 30-32 per share, with a minimum lot size of 468 shares, requiring Rs. 14,976 at the upper price band.

The IPO comprises a Rs. 287-crore fresh issue and an offer for sale of up to 4.16 crore shares. AceVector raised Rs. 189 crore from anchor investors before the public issue opened.

AceVector’s IPO closes on September 29, with listing expected on October 5.
A-One Steels IPO Closes On September 28
A-One Steels India will be one of the first IPOs requiring attention next week, with bidding scheduled to close on September 28. The Rs. 405-crore IPO has a price band of Rs. 385-405 per share and a lot size of 37 shares.

The issue was 0.58 times subscribed on Day 1, with QIB demand at 0.09 times, NII at 0.77 times and retail subscription at 0.77 times. By September 25, Moneycontrol reported the overall subscription at 0.91 times, with retail at 1.26 times and NII at 1.19 times. The IPO is scheduled to list on October 1.

Moneyview IPO: Subscription Crosses 1.4x On Day 1

Bengaluru-based fintech company Moneyview opened its Rs. 1,092-crore IPO on September 24. The issue was subscribed 1.44 times on Day 1, according to NSE data. Retail investors subscribed 1.79 times their portion, while the NII category was subscribed 2.43 times. Moneyview has fixed its price band at Rs. 32-34 per share, with a lot size of 441 shares. The IPO closes on September 28, making it another issue to watch at the beginning of next week. Moneyview is scheduled to list on October 1.

Two Fresh IPOs Open On September 28

The primary-market activity will get another boost on Monday, September 28, when SRIT India and Shah Investor’s Home open for subscription.

SRIT India IPO

The SRIT India IPO is scheduled to run from September 28 to September 30. The company has set a price band of Rs. 123-130 per share, with a lot size of 115 shares. The issue size is around Rs. 218.40 crore. Ahead of the issue opening, SRIT India’s grey-market premium was reported at around Rs. 26 on September 25th.

Shah Investor’s Home IPO

Shah Investor’s Home is also scheduled to open on September 28 and close on September 30. The retail broking company’s IPO has a price band of Rs. 159-167 per share, a lot size of 85 shares and an issue size of approximately Rs. 90.17 crore. The IPO is scheduled to list on October 6. Ahead of the issue, the grey market premium was around Rs. 11, equivalent to roughly 7% of the upper price band.