NewsIPOUrban Company, Shringar House, and Dev Accelerator IPOs Close with Strong Investor InterestUrban Company, Shringar House, and Dev Accelerator IPOs Close with Strong Investor Interest
Urban Company, Shringar House of Mangalsutra, and Dev Accelerator concluded their IPO subscription periods with robust investor demand. Urban Company's Rs 1,900 crore IPO was subscribed 13.30 times, with a grey market premium suggesting a 41.75% potential listing premium. Shringar House's Rs 400.95 crore IPO was subscribed 12.50 times, indicating an 18.79% potential premium. Dev Accelerator's Rs 143.35 crore IPO was the most subscribed at 22.36 times, with a potential 16.39% listing premium. Share allotments are expected on September 15, with listings on BSE and NSE anticipated for September 17.
*this image is generated using AI for illustrative purposes only.
Three initial public offerings (IPOs) - Urban Company, Shringar House of Mangalsutra, and Dev Accelerator - concluded their subscription period, each showcasing robust investor demand and promising grey market premiums.
Urban Company IPO
Urban Company, seeking to raise Rs 1,900.00 crore, witnessed a strong response with its IPO being subscribed 13.30 times. The company set its price band at Rs 98-103 per share. In the grey market, Urban Company's shares are commanding a premium of Rs 43.00, suggesting a potential listing price of Rs 146.00. This indicates a possible 41.75% premium over the upper price band.
Shringar House of Mangalsutra IPO
Shringar House of Mangalsutra's Rs 400.95 crore IPO also garnered significant interest, with a subscription rate of 12.50 times. The company's shares, priced in the band of Rs 155-165, are showing a grey market premium of Rs 31.00. This points to an expected listing price of Rs 196.00, representing an 18.79% premium over the upper price band.
Dev Accelerator IPO
Dev Accelerator's IPO, aiming to raise Rs 143.35 crore, emerged as the most subscribed among the three, with 22.36 times subscription. The company set its price band at Rs 56-61 per share. In the grey market, Dev Accelerator's shares are trading at a premium of Rs 10.00, indicating a potential listing price of Rs 71.00, which is a 16.39% premium over the upper price band.
Subscription and Listing Details
| Company | Issue Size (Rs Cr) | Subscription (times) | Price Band (Rs) | Grey Market Premium (Rs) | Potential Listing Price (Rs) | Potential Premium (%) |
|---|---|---|---|---|---|---|
| Urban Company | 1,900.00 | 13.30 | 98-103 | 43.00 | 146.00 | 41.75 |
| Shringar House | 400.95 | 12.50 | 155-165 | 31.00 | 196.00 | 18.79 |
| Dev Accelerator | 143.35 | 22.36 | 56-61 | 10.00 | 71.00 | 16.39 |
The strong subscription rates across all three IPOs reflect significant investor interest in these offerings. The companies are expected to finalize their share allotments on September 15, with listings on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) anticipated for September 17.
Investors and market observers will be keenly watching these listings, given the robust grey market premiums and oversubscription rates. However, it's important to note that grey market premiums are unofficial and subject to change, and may not necessarily reflect the actual listing price or post-listing performance of the shares.
As these companies prepare for their market debut, the strong investor response suggests a positive sentiment towards their business models and growth prospects. The actual listing performance will provide more concrete insights into how the market values these new entrants.
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