New Delhi: Volatility on Dalal Street and Star Health’s flop IPO show failed to dent the appeal of the ongoing and upcoming offers in the primary markets. Even in the grey market, issues which are able to attract investors, are able to trade with strong premia.
Tega Industries, whose initial offering (IPO) closed on Friday, is commanding a premium of Rs 390 per share, more than 85 per cent above its price band of Rs 443-453 apiece. The company’s Rs 619.23 crore IPO was open for subscription between December 1-3.
Another ongoing issue, Anand Rathi Wealth is trading at a premium of Rs 105, which is about 20 per cent higher than its price band of Rs 530-550. The company is looking to raise Rs 660 crore via the primary offering between December 2-6.
The upcoming issue of RateGain Travel Technologies is commanding a premium of 27 per cent or Rs 115 per share against its announced price band of Rs 405-425. The three-day initial stake sale of RateGain Travel, a software as a service (Saas) player, will open for subscription between December 7-9.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.
RateGain Travel Technologies is set to become the first software as a service company (SaaS) firm to list on the Indian stock markets, by mopping up Rs 1,336 crore via the primary route.
The recently concluded issue Star Health and Allied Services, meanwhile, is trading at a discount of Rs 10 per share. The IPO – the third-largest in 2021 -managed to scrape through only after the institutional portion was fully subscribed.
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