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Vaibhav Jewellers’ IPO has seen a moderate response from investors with a 30% subscription rate on its second day. The retail category led the subscriptions at 52%, followed by non-institutional investors (NIIs) at 18%. Notably, qualified institutional buyers have yet to place any bids. The company’s offering is set to close on September 26th.
Vaibhav Jewellers is one of the early entrants into Andhra Pradesh’s organized jewellery retail market and is seeking to expand regionally into high-growth, untapped areas within Andhra Pradesh and Telangana’s micro-markets. Its IPO consists of a fresh issue of Rs 210 crore and an offer for sale (OFS) segment of up to 28 lakh equity shares, amounting to a total offer size of around Rs 270 crore. The price band for this IPO is set between Rs 204-215 per share.
Updater Services’ Rs 640 crore-IPO had a slow start with only a 3% subscription rate on its first day of bidding. The retail category has seen activity at a subscription rate of 17%, while NIIs and qualified institutional buyers have yet to participate. The bidding process for this IPO will close on September 27th.
Updater Services aims to raise approximately Rs 640 crore through its IPO, which includes a fresh equity of Rs 400 crore and an OFS of 80 lakh shares by the promoter and other selling shareholders. The shares are priced between Rs 280-300 each. Updater Services is a prominent provider of integrated facilities management services and business support services across India.
JSW Infrastructure’s Rs 2,800 crore-IPO, the largest this month, has seen an 18% subscription rate on its first day. Retail investors have shown significant interest, subscribing at a rate of 77%, while NIIs have subscribed at 15%. Qualified institutional buyers have yet to participate. This IPO will close on September 27th.
The IPO for JSW Infrastructure, which is entirely a fresh equity issue of Rs 2,800 crore, has a price band set between Rs 113-119 per share. JSW Infrastructure is renowned for its rapid growth in installed cargo handling capacity and cargo volumes handled during FY21-23. It stands as the second-largest domestic commercial port operator by cargo handling capacity in FY23.
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