Kanohar Electricals IPO GMP
Booked a whopping 90.59 times, Kanohar Electricals IPO GMP today is ₹225 or 35.60 per cent, with the stock trading at ₹857 in the grey market as against the offer price of ₹632 apiece.
The offer received bids for 1,059.28 million shares as against the offer size of 11.69 million shares, according to NSE data. The qualified institutional buyer (QIB) segment was booked the most at 215.37 times, followed by the non-institutional investor (NII) quota at 87.74 times. Lastly, the retail portion received 20.51 times subscription.
The ₹1,056-crore Kanohar Electricals IPO was a mix of fresh share sale of ₹300 crore and an offer for sale of ₹756 crore. The price band for the transformer manufacturing company’s IPO was set at ₹601-632 apiece.
The company plans to use the funds raised for funding the capital expenditure requirements, funding the incremental working capital requirements of the company, and general corporate purposes.
Glass Wall Systems IPO GMP
Glass Wall Systems shares quoted at ₹229 in the grey market, a premium of 25.82 per cent or ₹47 over the offer price.
This offer was subscribed 81.65 times as it garnered bids for 1,343.72 million shares as against 16.45 million shares on offer. The QIB portion received 167.93 times bids, NII quota 79.71 times and retail segment 33.18 times.
The ₹428-crore offer was a mix of fresh share sale amounting to ₹60 crore and offer for sale of ₹368 crore. The funds raised will be used to fund capital expenditure requirements for setting up of a glass processing unit (GPU Project) as part of planned backward integration of the company at the Vile Bhagad Facility, along with general corporate purposes.
The price band for the IPO was set at ₹172-182 per share.
Glass Wall Systems is a façade solutions and fenestration provider with operations in India as well as international markets, including the United States and Australia.
Prasol Chemicals IPO GMP
Lastly, Prasol Chemicals could list at a discount of 2 per cent, as per the grey market. The shares of the company were trading at ₹663 as against the IPO price of ₹676 apiece.
This company’s offer was booked just 3.30 times, according to data available on NSE, with the portion reserved for NII and retail booked 1.80 times and 1.70 times, respectively. QIB portion was most booked at 7.22 times.
The company’s ₹500 crore IPO was priced at ₹643-676 apiece. The offer included a fresh issue of ₹80 crore and an offer for sale of ₹420 crore. The funds raised will be used for repayment of certain borrowings availed by the company and general corporate purposes.
Prasol Chemicals operates in the specialty chemicals industry. The company manufactures over 150 specialty chemicals, including acetone-based, phosphorus-based, and other complex chemicals.
