NSDL, two other IPO allotments to free up nearly ₹2 lakh crore in investor wealth

The IPO allotment of National Securities Depositories Ltd. (NSDL) and two other companies, Sri Lotus Developers Ltd. and M&B Engineering Ltd. are set to take place today and that could free up close to ₹2 lakh crore worth of investor wealth.NSDL’s ₹4,011 crore IPO ended up receiving bids worth ₹1.15 lakh crore, with institutional portion leading the way. The retail portion also saw healthy subscription as well.
The other IPO was Sri Lotus Developers, the luxury realtor, which looked to raise close to ₹800 crore through its IPO, ended up garnering bids worth over ₹41,129 crore during the three-day period.

M&B Engineering was the third IPO that was simultaneously open for subscription, looking to raise ₹650 crore, and ended up getting bids worth over ₹12,600 crore.Together, these three IPOs will be unlocking investor wealth worth close to ₹2 lakh crore. More IPOs are on the anvil, with JSW Cement’s ₹3,600 crore issue set to open this Thursday.After being in cautious mode during the earlier part of the year, Retail investor interest has been increasing in the recent IPOs. Four out of the last five IPOs have seen retail investor subscription between 35x to as high as 80x the shares on offer.

Source link