Kolkata: The bidding process of three mainboard issues is closing today. However, the performance in attracting bids by Powerica IPO, Sai Parenteral’s IPO and Amir Chand Jagdish Kumar IPO on the first two days varies widely. While Amir Chand Jagdish Kumar IPO attracted 155% bids so far, Powerica IPO has been able to attract 1% and Sai Parenteral’s IPO 5%. The bidding process closes on March 26. The allotment of shares will be on March 30 while the listing is expected to take place on April 2.

Amir Chand Jagdish Kumar IPO fully subscribed

On the second day of the application process, Amir Chand Jagdish Kumar IPO was subscribed 1.55 times overall — 0.59 times in the retail category, 0.82 times in QIB segment and 5.52 times in the NII category. Amir Chand Jagdish Kumar IPO intends to mobilise Rs 440 crore via fresh shares only. The price band of Amir Chand Jagdish Kumar IPO is Rs 201-212. A retail investor has to bid for a minimum of 70 shares for which he/she has to pay Rs 14,840 based on the upper end of the price band. The minimum lot size for sNII investors is 14 lots or 980 shares while the smallest lot for bNII investors is 68 lots or 4,760 shares.

Amir Chand Jagdish Kumar IPO GMP

According to investorgain, Amir Chand Jagdish Kumar IPO GMP crept up to Rs 8 and stood at that level in the morning of March 25. Considering a price band of Rs 212, the estimated listing price of Amir Chand Jagdish Kumar shares will be Rs 220 and the listing gain will be 3.77%. This is the highest level of GMP reached over the past few days. However, one should remember that GMP is an unofficial indicator, which can be highly volatile and does not guarantee any listing gain.

Powerica IPO subscription level

On the second day of bidding, Powerica IPO managed to attract only 0.03 times overall — 0.05 times in the retail category, 0.00 times in QIB category and 0.01 times in the NII category. The investment in the QIB category is significant since banks and mutual funds are designated as QIB and they have the deep pockects to invest and the skills to analyse an issue threadbare. But Powerica managed to raise Rs 329.40 crore from prominent anchor investors on March 23. The issue is designed to raise Rs 1,100 crore via a combination of fresh issue of 1.77 crore shares aggregating to Rs 700 crore and an OFS segment aggregating to Rs 400 crore. The price band of Powerica IPO is Rs 375-395. The minimum investible lot for a retail investor is 37 shares for which one has to pay Rs 14,615.

Powerica IPO GMP

According to investorgain, Powerica IPO GMP stood at Rs 1 in the morning of March 27. Considering a price band of Rs 395, the estimated listing price of Powerica shares will be Rs 396 and the listing gain will be 0.25%. The GMP stood at Rs 4 on the first day of the bidding process. However, one should remember that GMP is an unofficial indicator, which can be highly volatile and does not guarantee any listing gain.

Sai Parenteral’s IPO subscription level

Sai Parenteral’s IPO was subscribed only 0.42 times overall on day two — 0.05 times in the retail category, 0.60 times in QIB category and 1.05 times in the NII category. Sai Parenteral’s IPO intends to raise Rs 408.79 crore through a combination of fresh issue and OFS segment. Sai Parenteral’s IPO price band is Rs 372-392. A retail investor has to invest a minimum of 38 shares for which Rs 14,896 based on the upper end of the price band is needed. The minimum investible lot for sNII investors is 14 lots or 532 shares while that for bNII investors in 68 lots or 2,584 shares.

Sai Parenteral’s IPO GMP

According to investorgain, Sai Parenteral’s IPO GMP stood at zero in the morning of March 27. In fact, it has always been zero over the past few days. Considering a price band of Rs 392, the estimated listing price of Sai Parenteral’s shares will be Rs 392 and the listing gain will be 0%. However, one should remember that GMP is an unofficial indicator, which can be highly volatile and does not guarantee any listing gain.

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