Upcoming IPOs: Meesho, Vidya Wires, and Aequs Set to Launch
This week is expected to be hectic for primary market investors as three companies, Meesho Ltd., Vidya Wires Ltd., and Aequs Ltd., are gearing up to launch their initial public offerings (IPOs) on December 3.
The grey market premium for these three IPOs has already started making headlines, with private market investors anticipating strong listing gains once these IPOs debut on the market in the coming week.
Meesho IPO: Latest Grey Market Premium
The latest grey market premium (GMP) for the Meesho IPO stood at Rs 42 per share on December 1. Compared to the upper end of the price band of Rs 111, the latest GMP indicates an estimated listing price of Rs 153 apiece. Shares of Meesho Ltd. are expected to list at a 37.84% premium over the issue price.
Meesho aims to raise Rs 5,421.2 crore through its IPO. The book-building issue comprises a fresh issuance of 38.29 crore shares, aggregating to Rs 4,250 crore and an offer-for-sale (OFS) of 10.55 crore shares, worth 1,171.2 crore.
The IPO price band has been fixed at Rs 105 to Rs 111 per share. The lot size for the IPO comprises 135 shares. Retail investors need to apply for at least one lot, with a minimum investment of Rs 14,985 per application.
Meesho Ltd., which became an Indian e-commerce heavyweight by selling low-priced offerings, plans to deploy some of the proceeds from its $606 million initial public offering to penetrate smaller towns in the world’s biggest consumer market. To know more about Indian e-commerce market, click here.
Aequs IPO: Latest Grey Market Premium
The latest GMP for the Aequs IPO stood at Rs 43.5 on December 1. The GMP indicates an estimated listing price of Rs 167.5 per share against the upper price band of Rs 124. The latest GMP hints at a potential premium of 35.08% over the issue price.
The Aequs IPO is a book-building issue worth Rs 921.81 crore. The IPO comprises of a fresh issuance of 5.4 crore shares, amounting to Rs 670 crore and an OFS portion of 2.03 crore shares, aggregating to Rs 251.81 crore. The IPO price band has been set at Rs 118 to Rs 124 per share. Retail investors should apply for at least a single lot size of 120 shares. The minimum bid amount for retail investors is Rs 14,880 per application.
Aequs Ltd. is a diversified contract manufacturing company. To know more about contract manufacturing industry, click here.
Vidya Wires IPO: Latest Grey Market Premium
The latest GMP for Vidya Wires IPO stood at Rs 10 per share as of December 1. Compared to the upper limit of the issue price of Rs 52, the GMP indicates an estimated listing price of Rs 62 apiece at a premium of 19.23%.
The Rs 300-crore IPO comprises a fresh issue of 5.27 crore shares, worth Rs 274 crore and an OFS component of 50 lakh shares, amounting to Rs 26.01 crore. The price band for Vidya Wires IPO has been fixed at Rs 48 to Rs 52 per share. Retail investors are required to apply for one lot of 288 shares, amounting to an investment of Rs 14,976, based on the upper limit of the issue price.
Vidya Wires Ltd. is a metal wires producer. To know more about metal wires industry, click here.
IPO Subscription and Listing Details
All three IPOs will remain open for subscription from December 3 to December 5. The companies are scheduled to finalise share allotment for their IPOs on December 8. Refunds and transfer of shares to the Demat accounts will be initiated on December 9.
Shares of all three companies are tentatively scheduled to be listed on the NSE and BSE on December 10. To know more about IPO listing process, click here.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids. To know more about IPO investment risks, click here.