Shares of Behari Lal Engineering made a stellar debut on the bourses on Wednesday and listed at a 61 per cent premium over the issue price of Rs 285, taking the company’s market valuation to Rs 1,937.45 crore. Similarly, Shiprocket made a strong debut on the stock exchanges and listed at a 35ย per cent premium over the issue price of Rs 97. Both the stocks gained further after strong listing on the National Stock Exchange and BSE.ย Earlier, both public issues received strong investor responses during the three-day subscription window that closed on Friday. While the e-commerce enablement platform IPO was subscribed 99.38 times, the integrated iron and steel manufacturing company Behari Lal Engineering Ltd was subscribed 108.44 times on the final day of bidding.
Shiprocket listing price on NSE, BSE
The stock opened trading at Rs 131, up 35.05ย per cent from the issue price on the NSE. On the BSE, Shiprocket’s shares debuted at Rs 129.50, up 33.51 per cent.
Behari Lal Engineering listing price on NSE, BSE
The stock began the session at Rs 458, up 60.70 per cent from the issue price on the BSE. On the National Stock Exchange, Behari Lal Engineering’s shares debuted at Rs 440, registering a jump of 54.39 per cent.
Behari Lal Engineering Ltd subscription status
According to data available on the National Stock Exchange (NSE), the Rs 302-crore IPO received bids for 80,38,28,324 shares against 74,12,769 shares on offer.
The Qualified Institutional Buyers (QIB) category was subscribed 165.33 times, while the non-institutional investor quota drew 165.31 times subscription. The retail investor portion received 53.27 times subscription. The offer price band is Rs 271-285 per equity share.
Behari Lal Engineering operates two manufacturing facilities in Mandi Gobindgarh, Punjab, and has recently commenced construction of a third facility in Fatehgarh Sahib district.
Shiprocket subscription status
The Rs 1,617.5-crore IPO attracted bids for 9,38,51,66,560 shares against 9,44,36,030 shares on offer. The Qualified Institutional Buyers (QIBs) bid for 122.80 times the shares reserved for them.ย The non-institutional investors segment was subscribed 88.99 times, while the retail quota was booked 46.42 times. The price band for the Shiprocket IPO was fixed at Rs 92-97 per share.
Its core business includes domestic shipping and shipping applications, while its emerging businesses comprise cargo and fulfilment, cross-border shipping, advertising and marketing solutions, capital solutions and hyperlocal deliveries.
Shiprocket IPO GMP ahead of listing on NSE, BSE
According to Investorgain, Shiprocket’s unlisted shares are trading at a grey market premium (GMP) of Rs 35. Considering the upper price band of Rs 97, the company’s shares are expected to list at around Rs 132, reflecting a grey market premium of 36.08 per cent.
Behari Lal Engineering IPO GMP ahead of listing on NSE, BSE
Ahead of listing, the Behari Lal Engineering IPO is commanding a grey market premium (GMP) of around Rs 133 today, suggesting a listing at around Rs 418, implying a potential 46.67 per cent premium over the issue price of Rs 285.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)