Several high-profile Mainboard IPOs are closing for subscription today, attracting strong investor interest across various categories. Here’s a quick rundown of the three major IPOs set to conclude:
Kross Ltd IPO
Kross Ltd’s IPO, which opened on September 9, is set to close today. The issue has seen significant interest, with subscriptions reaching 2.73 times by the end of Day 2. The retail portion was particularly strong, being subscribed 4.15 times, while the non-institutional investor (NII) category was subscribed 3.03 times. However, the Qualified Institutional Buyer (QIB) portion saw minimal interest with just 0.03 times subscription.
The ₹500 crore IPO includes an offer for sale of 1.04 crore shares, worth ₹250 crore, and a fresh issue of 1.04 crore shares, also valued at ₹250 crore. The Kross IPO allocation is expected on Thursday, September 12, with the tentative listing on the BSE and NSE slated for Monday, September 16. The IPO’s Grey Market Premium (GMP) stands at ₹50, suggesting a possible listing price of ₹290, a 20.83% premium over the issue price of ₹240.
Bajaj Housing Finance Ltd IPO
Bajaj Housing Finance Ltd’s ₹6,560 crore IPO, which opened on September 9, also concludes today. The price band is set between ₹66-70 per share. The IPO saw strong demand, with subscriptions hitting 8.08 times by the end of Day 2.
The offering consists of a fresh issue of ₹3,560 crore and an offer for sale of ₹3,000 crore. The proceeds from the fresh issue will bolster the company’s capital for future lending operations. Retail investors can apply for a minimum lot size of 214 shares, amounting to an investment of ₹14,980. The allotment is expected to be finalized on September 12, with a listing on September 16.
Tolins Tyres Ltd IPO
Tolins Tyres Ltd, a Kerala-based tyre manufacturer, has also garnered significant interest, with the IPO being subscribed 10.75 times by 1:15 PM on September 11. The retail portion saw a subscription of 14.63 times, while the NII portion was subscribed 13.36 times. The QIB segment lagged slightly, with a subscription rate of 2 times.
The company aims to raise ₹230 crore, which includes a fresh issue of ₹200 crore and an offer for sale of 13.27 lakh shares. Tolins Tyres is known for providing tyre retreading solutions and exporting to over 40 countries. The company’s GMP currently stands at ₹39-40 per share, indicating a potential listing gain of around 18%.
Investors should carefully consider the details before making any last-minute bids, as all three IPOs close today.
