Anondita Medicare and Classic Electrodes IPOs Close with Strong Investor Interest

Two initial public offerings (IPOs) are closing for subscription on Tuesday, both demonstrating robust investor enthusiasm. Anondita Medicare and Classic Electrodes, set to list on the NSE SME platform, have garnered significant attention from the market.

Anondita Medicare IPO

Anondita Medicare, a manufacturer of condoms with an annual production capacity exceeding 56 crore units, has seen its IPO subscribed 150.45 times. The company's grey market premium (GMP) stands at Rs 70, suggesting a potential listing price of Rs 215 per share. This indicates a possible 48.28% premium over the upper price band limit of Rs 145.

Key details of Anondita Medicare's IPO:

• Issue size: Rs 69.50 crore
• Offering: 48 lakh fresh shares
• Price band: Rs 137-145 per share

Classic Electrodes IPO

Classic Electrodes, specializing in the production of stainless steel electrodes, cast iron electrodes, and deep penetration electrodes, has its IPO subscribed 78.20 times. The company's GMP is Rs 21, pointing to a potential listing price of Rs 108 per share, representing a 24.14% premium over the upper limit of Rs 87.

Key details of Classic Electrodes' IPO:

• Issue size: Rs 41.51 crore
• Offering: 48 lakh fresh shares
• Price band: Rs 82-87 per share

IPO Timeline

Both companies have set important dates for their IPO process:

• Subscription Closing: Tuesday (today)
• Share Allotment: August 28
• Listing Date: September 1 (on NSE SME platform)

The strong subscription rates for both IPOs reflect high investor interest in these small and medium enterprise (SME) offerings. Investors will be keenly watching the share allotment process and the subsequent listing performance of these companies on the NSE SME platform.

As always, investors should conduct their own research and consider their risk appetite before making investment decisions, particularly in the SME segment which can be more volatile compared to larger cap stocks.