The two issues, which opened on September 1 and closed on September 3, will likely see the finalisation of share allotment on Wednesday. The initiation of refund will take place on Thursday, shares will be credited to demand accounts on Monday and the stocks would list on Tuesday, September 14.
Most retail investors who bid for Vijaya Diagnostics IPO are likely to get allotment, as the retail portion of the issue was subscribed mere 1.09 times against an overall subscription of 4.54 times. The sentiment on this counter was tepid during the bidding process as Krsnaa Diagnostics, which got listed last month, was trading at a discount to its issue price of Rs 953.
“We are not expecting any big listing gain from Vijaya Diagnostic Centre IPO as we believe that all the short-term positives have been priced in the IPO price, i.e, Rs 531. If we look at the present grey market premium, GMP stands at Rs 5 or just 1 per cent at the upper price band of the IPO,” said Yash Gupta of Angel Broking.
This analyst advised short-term investors to book profit on Ami Organics on listing day itself, as he felt valuations the stock would command at the issue price were quite higher than listed peers.
This stock is commanding a grey market premium of Rs 168-170, up to 27 per cent upside over the upper price band of the IPO. Ami Organics issue was subscribed 64.54 times, with retail quota getting 13.36 times subscription.
While there are still a few days left for the listing of the two issues, Abhay Doshi, Founder at Unlisted Arena said he believes Ami Organics should give a healthy listing given the recent chemical listing and the fact that the issue was subscribed quite a bit. He remained unsure of Vijaya’s listing given Krsnaa Diagnostics’ poor show and tepid subscription levels to the issue.
