Three mainboard initial public offerings (IPOs) are slated to make their market debut this week. These include the IPOs of Quality Power Electrical Equipments Ltd, Ajax Engineering Ltd., and Hexaware Technologies Ltd.
IT consulting firm Hexaware Technologies aims to raise Rs 8,750 crore from the primary market, making it one of the biggest IPOs of the year so far. Quality Power IPO aims to mop up Rs 858.7 crore from investors whereas Ajax Engineering IPO intends to raise Rs 1,269.35 crore.
While the subscription window for Ajax Engineering IPO and Hexaware Technologies IPO has already closed, bidding for shares in Quality Power IPO will conclude on Tuesday.
These IPOs have also been generating decent buzz in the unlisted market ahead of the listing. Here’s a look at what the current grey market premium (GMP) trend hints about the listing of these IPOs.
Ajax Engineering IPO GMP
The grey market premium on the Ajax Engineering IPO suggested that the company’s shares might list at a discounted price. As per InvestorGain, The estimated listing price for Ajax Engineering IPO at the current GMP is Rs 626.
The Ajax Engineering IPO GMP has come crashing down from its highest level of Rs 58 recorded on Feb. 5.
The GMP stood at Rs 16 when the IPO opened subscription on Feb. 10. The subscription window closed on Feb. 12 with share allotment finalised on Feb. 14. Shares of Ajax Engineering Ltd. will make their market debut on Feb. 17.
Ajax Engineering IPO is an entire offer-for-sale of 2.02 crore shares at a fixed price of Rs 629 apiece.
Quality Power IPO GMP
Quality Power IPO GMP stood at Rs 5 as of 7:32 a.m. on Feb. 17, marking a premium of 1.18% over the upper price band of Rs 425. Shares of the company are expected to make their market debut at Rs 430. The bidding for the issue opened on Feb. 14 and will remain active till Feb. 18.
The GMP on Quality Power IPO surged to their highest level of Rs 135 on Feb. 8. However, it failed to sustain the surge and has been on a decline ever since. Shares of Quality Power Ltd. are likely to make market debut on Feb. 21.
Quality Power IPO fresh issue of 53 lakh shares totalling Rs 225 crore and offer for sale of 1.49 crore shares worth Rs 633.7 crore. The IPO price band is set at Rs 401 to Rs 425 apiece.
Hexaware Technologies IPO GMP
Hexaware Technologies IPO GMP stood at Rs 1 as of 7:56 a.m. on Feb. 17, indicating a nearly flat listing. As per the GMP trends, shares of the company are expected to make their market debut at Rs 709 apiece on the BSE and NSE.
Hexaware Technologies IPO has been seen struggling to garner interest in the unlisted market. At their highest level, recorded on Feb. 6, Hexaware Technologies IPO GMP stood at Rs 19.
Hexaware Technologies IPO is entirely an offer-for-sale of 12.36 crore shares available at a price band of Rs 674 to Rs 708. The IPO, open for subscription between Feb. 12 and Feb. 14, is set to hit the market on Feb. 19.
. Read more on IPOs by NDTV Profit.While the subscription window for Ajax Engineering IPO and Hexaware Technologies IPO has already closed, bidding for shares in Quality Power IPO will conclude on Tuesday. Read MoreIPOs
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