MUMBAI: Past few days have been a busy time for the IPO mart, with a number of issues hitting the market, as companies seek to ride the buoyant stock market. However, last week’s stocks selloff may have a bearing on listings and IPO subscription levels going forward, analysts warn. The uncertainty is already reflecting in grey market premia, where the preference seems to be shifting to quality and attractive pricing.

The primary market has an even busier week ahead with share allotments, listings and three new IPOs set to hit the market. Here’s what’s in store:-

UTI AMC IPO

UTI AMC IPO is an offer for sale by the existing investors to raise about Rs 2,152-2,160 crore. It opens on September 29, and closes on October 1. The price band for the issue has been fixed at Rs 552-554 per share. Investors can bid for a minimum of 27 equity shares and in multiples of 27 shares thereafter.

The grey market premium has halved to Rs 75 from Rs 150 earlier, dealers said. At this price, this issue is signalling a 13.5 per cent premium over the upper end of the price band. However, it may change when the IPO subscription starts.

Mazagon Dock Shipbuilders IPO

The government is launching its first IPO for financial year 2021 by selling 15.17 per cent stake in Mazagon Dock Shipbuilders. The issue opens on September 29, and closes October 1 . It is looking to raise up to Rs 444 crore and has fixed the price band at Rs 135-145 per equity share. The state-run company has seen grey market premium double to Rs 135 from Rs 65 earlier, implying a 93 per cent premium over the price band of Rs 135-145.

Likhita Infrastructure IPO

Likhitha Infrastructure, a Hyderabad-headquartered oil and gas pipeline infrastructure service provider, will hit the market with its Rs 61.20 crore IPO on September 29. The price band has been fixed at Rs 117-120, and the issue closes on October 1.

In the grey market, the issue was quoting a premium of Rs 12.

Chemcon Speciality Chemicals Listing
The Rs 318 crore IPO of specialised chemical products manufacturer Chemcon Speciality Chemicals was oversubscribed nearly 149.30 times, making it the second most subscribed public issue this year after Happiest Minds Technologies, which had been over-subscribed 151 times.

The allotment for the issue will happen on September 28, and the stock is likely to be listed on October 1. Chemcon, which was sold in the price band Rs 338-340, is quoting a premium of 107 per cent in the grey market at Rs 365.

Computer Age Management Services ‘ (CAMS) IPO Listing

CAMS’ Rs 2,242 crore IPO was subscribed nearly 47 times. Share allotment in the issue is likely to be announced on September 28. The stock will be listed on the bourses on October 1. Grey market premium for CAMS dropped to Rs 300 from Rs 500 earlier. It now implies a 24 per cent premium on the upper end of the price band for the issue of Rs 1,229-1,230.

Angel Broking IPO Listing
Angel Broking’s Rs 600 crore IPO was subscribed 3.94 times last week. The issue comprised fresh issuance of shares worth Rs 300 crore and offer for sale of Rs 300 crore by promoters and other shareholders. It was priced at Rs 305-Rs 306 a share.

In the grey market, the IPO was trading at a discount of Rs 4, compared with a premium earlier. The share allotment is likely to take place on September 29, and the stock may get listed on October 5.

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