Today’s 2 IPOs Open: TBO Tek and Aadhar Housing Finance – Bid Until May 10th, Discover Key Highlights!

Today marks the commencement of two initial public offerings (IPOs), namely TBO Tek Limited and Aadhar Housing Finance. Both IPOs are open for subscription until May 10th. Additionally, today is the last day of the IPO for Indegene Limited. Let’s delve into the details of these two companies’ IPOs.

TBO Tek Limited’s IPO: Offering Details

TBO Tek Limited aims to raise a total of ₹1,550.81 crore through its IPO. For this purpose, the company will issue 4,347,826 new shares at a price of ₹400 each. Additionally, the company’s current shareholders will offer for sale (OFS) 16,856,623 shares at a total value of ₹1,550.81 crore.

Retail investors can place bids for this IPO from May 8th to May 10th. The company’s shares will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on May 15th.

Retail Investors’ Bidding Details for TBO Tek Limited IPO

TBO Tek Limited has confirmed the price band for this issue at ₹875-₹920. Retail investors can bid for a minimum of one lot, which comprises 16 shares. If you choose to bid at ₹920 per share, the total bidding amount for one lot would be ₹14,720.

However, retail investors have the option to bid for a maximum of 13 lots, equivalent to 208 shares. For this maximum bid, according to the upper price band, they would need to bid ₹191,360.

TBO Tek Limited’s Grey Market Premium: 56.52%

Before the IPO opened, TBO Tek Limited’s shares were trading in the grey market at a premium of 56.52%, reaching ₹520 per share. In this scenario, considering the upper price band of ₹920, its listing could potentially reach ₹1440 per share. 

This indicates that the listing price of the shares might differ significantly from the grey market price.

Aadhar Housing Finance

Aadhar Housing Finance is seeking to raise ₹3,000 crore through its IPO. To achieve this, the company will issue 31,746,032 new shares at ₹1,000 crore. Additionally, the company’s current shareholders will offer for sale (OFS) 63,492,063 shares at a total value of ₹2,000 crore.

Retail investors can bid for this IPO from May 8th to May 10th. The company’s shares will be listed on the National Stock Exchange and the Bombay Stock Exchange on May 15th.

Retail Investors’ Bidding Details for Aadhar Housing Finance IPO

Retail investors have the opportunity to bid for a maximum of 611 shares for Aadhar Housing Finance’s IPO. The price band for this issue is set at ₹300-₹315. For minimum bidding, which is one lot consisting of 47 shares, investors can bid as low as ₹14,805 if bidding at ₹315 per share.

Simultaneously, retail investors can bid for a maximum of 13 lots, which equals 611 shares. For this maximum bid, as per the upper price band, they would need to bid ₹192,465.

Grey Market Premium for Aadhar Housing Finance: 19.68%

Before the IPO opened, shares of Aadhar Housing Finance were trading in the grey market at a premium of 19.68%, reaching ₹62 per share. 

In this scenario, considering the upper price band of ₹315, its listing could potentially reach ₹377 per share. This suggests that the listing price of the shares might differ significantly from the grey market price.

Aadhar Housing Finance Limited: Providing Housing Loans to Low-Income Earners

Established in 2010, Aadhar Housing Finance Limited primarily caters to individuals with lower incomes by providing housing loans. The company focuses on serving customers in Tier 4 and Tier 5 cities across the country.

Aadhar Housing Finance offers mortgage loans for both housing and commercial properties. As of September 30, 2023, the company boasts a network of 471 branches, including 91 sales offices, spread across 20 states in India. This extensive network enables the company to reach and serve a wide range of customers in various regions.