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The Initial Public Offer i.e. IPO of Indian Renewable Energy Development Agency Limited (IREDA) has opened for public subscription today. Apart from this, four IPOs will open tomorrow. These include Tata Technologies Limited, Gandhar Oil Refinery India Limited, FedBank Financial Services Limited and Flair Writing Industries Limited.
Let us first know the gray market price of the five IPOs and then know about the IPOs of these companies one by one.
Gray market price of Tata Technologies is highest
Among all the IPOs opening this week, the gray market price (GMP) of Tata Technologies Limited is the highest. The GMP of Indian Renewable Energy Development Agency Limited, which opened today in investorgain.com, is running at 18.75%.
While Tata Technologies Limited’s GMP is running at 70%, Gandhar Oil Refinery India Limited’s GMP is at 36.09%, Fedbank Financial Services Limited’s GMP is at 3.57% and Flair Writing Industries Limited’s GMP is at 19.74%.
1. Indian Renewable Energy Development Agency Limited
The IPO of Indian Renewable Energy Development Agency Limited will open for public subscription on November 21. Retail investors will be able to bid for the IPO till November 23. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 4.
The company wants to raise Rs 2,150.21 crore through this IPO. For this, the company will issue 403,164,706 fresh shares of ₹ 1,290.13 each. Whereas, the existing investors and promoters of the company will sell 268,776,471 shares worth ₹860.08 each through Offer for Sale.
What is the minimum and maximum amount that can be invested?
The company has fixed the price band of this issue at ₹30-₹32. Retail investors can bid for a minimum of one lot i.e. 460 shares. If you apply for 1 lot as per the upper price band of IPO of ₹32, then you will have to invest ₹14,720.
Retail investors can bid for a maximum of 13 lots i.e. 5980 shares. For this they will have to spend ₹ 191,360 as per the upper price band.
2. Tata Technologies Limited
Tata Technologies Limited wants to raise ₹3,042.51 crore through this IPO. The issue will be a pure offer for sale, for which the company will sell 60,850,278 equity shares worth ₹3,042.51 crore.
This IPO will open for public subscription on November 22. Retail investors will be able to apply for IPO till November 24. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 5.
Retail investors can bid for maximum 390 shares
The company has fixed the price band of IPO at ₹475 to ₹500. Retail investors can bid for a minimum of one lot i.e. 30 shares. If you apply for 1 lot at the upper price band of IPO of ₹ 500, then you will have to invest ₹ 15,000.
At the same time, you can bid for maximum 13 lots i.e. 390 shares. For this he will have to spend ₹ 195,000 as per the upper price band.
3. Gandhar Oil Refinery India Limited
Gandhar Oil Refinery India Limited wants to raise ₹500.69 crore through this IPO. For this, the company will issue 17,869,822 fresh shares worth ₹302.00 crore. Whereas, the existing investors and promoters of the company will sell 11,756,910 shares worth ₹198.69 crore through offer for sale.
This IPO will also be open for retail investors from November 22 to November 24. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 5.
Retail investors can bid for maximum 1144 shares
Gandhar Oil Refinery India Limited has fixed the IPO price band at ₹160 to ₹169. Retail investors can bid for a minimum of one lot i.e. 88 shares. If you apply for 1 lot at the upper price band of IPO at ₹ 169, then you will have to invest ₹ 14,872.
At the same time, you can bid for maximum 13 lots i.e. 1144 shares. For this they will have to spend ₹ 193,336 as per the upper price band.
4. Fedbank Financial Services Limited
FedBank Financial Services Limited wants to raise ₹1,092.26 crore through this IPO. For this, the company will issue 42,912,087 fresh shares worth ₹600.77 crore. Whereas, the existing investors and promoters of the company will sell 35,161,723 shares worth ₹492.26 crore through offer for sale.
Retail investors will also be able to bid for this IPO from November 22 to November 24. At the same time, on December 5, the company’s shares will be listed on NSE and BSE.
Retail investors can bid for maximum 1391 shares
FedBank Financial Services Limited has fixed the price band of the IPO at ₹133 to ₹140. Retail investors can bid for a minimum of one lot i.e. 107 shares.
If you apply for 1 lot at the upper price band of IPO at ₹ 140, then you will have to invest ₹ 14,980. At the same time, bidding can be done for maximum 13 lots i.e. 1391 shares. For this they will have to spend ₹ 194,740 as per the upper price band.
5. Flair Writing Industries Limited
Flair Writing Industries Limited wants to raise ₹593.00 crore through this IPO. For this, the company will issue 9,605,263 fresh shares worth ₹292.00 crore. Whereas, the existing investors and promoters of the company will sell 9,901,315 shares worth ₹301.00 crore through Offer for Sale.
Retail investors will also be able to bid for this IPO from November 22 to November 24. At the same time, on December 5, the company’s shares will be listed on NSE and BSE.
Retail investors can bid for maximum 637 shares
Flair Writing Industries Limited has fixed the IPO price band at ₹288 to ₹304. Retail investors can bid for a minimum of one lot i.e. 49 shares.
If you apply for 1 lot as per the upper price band of IPO of ₹ 304, then you will have to invest ₹ 14,896. At the same time, bidding can be done for maximum 13 lots i.e. 637 shares. For this they will have to spend ₹ 193,648 as per the upper price band.
35% of all five IPOs reserved for retail investors
All these five companies have reserved 50% of their respective IPOs for Qualified Institutional Buyers (QIB). Apart from this, 35% share has been reserved for retail investors and the remaining 15% share has been reserved for non-institutional investors (NII).
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