Four new IPOs including Tata Tech open this week; Find out all subscription details and the hits and miss

The market witnessed a rainfall of IPOs with the introduction of four new offerings available for investor subscription. Seizing the opportunities eagerly, investors embraced these openings, resulting in oversubscription for the majority of these public issues. Here’s a comprehensive overview of each of the IPOs and their subscription details;

Tata Technologies IPO

Tata Tech IPO opened for subscription yesterday and will close on Friday, November 24, 2023. The public issue has been subscribed 9.70 times so far. The Qualified Institutional Buyers (QIBs) category has been subscribed 4.13 times, the portion for non-institutional investors received 19.12 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 8.19 times.

Gandhar Oil Refinery IPO

Gandhar Oil Refinery IPO opened for subscription today and will close on Friday, November 24, 2023. The public issue has been subscribed 9.61 times so far. The Qualified Institutional Buyers (QIBs) category has been subscribed 1.50 times, the portion for non-institutional investors received 15.53 times subscription and the Retail Individual Investors (RIIs) quota got oversubscribed by 11.71 times.

The IPO comprises a fresh issue of 17,869,822 shares aggregating up to Rs 302 crore and an Offer-For-Sale (OFS) with promoters offloading 11,756,910 shares aggregating up to Rs 198.69 crore. For potential investors, the bidding starts at a minimum of 88 equity shares, with subsequent bids in multiple lots of 88 equity shares each, with a maximum of 13 lots. The price band for its public issue at Rs 160-169 per equity share of face value Rs 2 each.

Flair Writing IPO

Flair Writing IPO opened for subscription yesterday and will close on Friday, November 24, 2023. The public issue has been subscribed 3.79 times so far. The Qualified Institutional Buyers (QIBs) category has been subscribed 0.57 times, the portion for non-institutional investors received 0.54 times subscription and the Retail Individual Investors (RIIs) quota got oversubscribed by 4.89 times.

The IPO comprises a fresh issue of 9,605,263 shares aggregating up to Rs 292 crore and an Offer-For-Sale (OFS) with promoters offloading 9,901,315 shares aggregating up to Rs 301 crore. For potential investors, the bidding starts at a minimum of 49 equity shares, with subsequent bids in multiple lots of 49 equity shares each, with a maximum of 13 lots. The price band for its public issue at Rs 288-304 per equity share of face value Rs 5 each.

Fedbank Financial Services IPO

Fedbank Financial Services IPO opened for subscription yesterday and will close on Friday, November 24, 2023.The public issue has been subscribed 0.55 times so far. The portion for non-institutional investors received 0.32 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 0.96 times. The issue, however, failed to receive any subscriptions in the Qualified Institutional Buyers (QIBs) category.

The IPO comprises a fresh issue of 42,912,087 shares aggregating up to Rs 600.77 crore and an Offer-For-Sale (OFS) with promoters offloading 35,161,723 shares aggregating up to Rs 492.26 crore. For potential investors, the bidding starts at a minimum of 107 equity shares, with subsequent bids in multiple lots of 107 equity shares each, with a maximum of 13 lots. The price band for its public issue at Rs 133-140 per equity share of face value Rs 10 each.