3 Upcoming IPOs: IndiGen, TBO Tech, Aadhar Housing Finance Raise Funds, Min Bid ₹14,720
Indengine Limited
Indengine Limited seeks to raise a total of ₹1,841.76 crores through its IPO. For this, the company will issue 16,814,159 new shares at ₹760 crores. Meanwhile, the company’s current shareholders will offer for sale (OFS) 23,932,732 shares worth ₹1,081.76 crores.
Retail investors can bid for this IPO from May 6th to May 8th. On May 13th, the company’s shares will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Retail investors can bid for a maximum of 429 shares. The price band for this issue by Indengine Limited is set at ₹430-₹452. Investors can bid for at least 33 shares. If you apply for 1 lot according to the upper price band of ₹452 for the IPO, you will have to bid ₹14,916.
Retail investors can bid for a maximum of 13 lots, i.e., 429 shares. For this, investors will have to bid a total of ₹193,908 according to the upper price band.
The premium for Indengine Limited in the grey market is 58.19%. Before the IPO opens, the company’s shares reached a premium of 58.19% in the grey market, meaning they reached ₹263 per share. In this scenario, based on the price band of ₹452, it can be listed at ₹715. However, this is just an estimate, and the listing price of shares may differ significantly from the grey market price.
TBO Tech Limited
TBO Tech Limited aims to raise a total of ₹1,550.81 crores through its IPO. For this, the company will issue 4,347,826 new shares at ₹400 crores. Meanwhile, the company’s current shareholders will offer for sale (OFS) 16,856,623 shares worth ₹1,550.81 crores.
Retail investors can bid for this IPO from May 8th to May 10th. The shares of the company will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on May 15th.
Retail investors can bid for a maximum of 208 shares. The price band for this issue by TBO Tech Limited is set at ₹875-₹920. Investors can bid for at least 16 shares. If you apply for 1 lot at the upper price band of ₹920 for the IPO, you will have to bid ₹14,720.
TBO Tech Ltd: Premium at 56.52% in Grey Market
Before the IPO opened, the company’s shares were trading at a premium of 56.52% in the grey market, meaning they reached ₹520 per share. In this scenario, according to the ₹920 upper price band, its listing could be around ₹1440. Whether it’s just an estimate, the listing price of the shares differs significantly from the grey market price.
Aadhar Housing Finance
Aadhar Housing Finance is seeking to raise ₹3,000 crores through its IPO. For this, the company will issue 31,746,032 new shares at ₹1000 crores. Meanwhile, the company’s current investors will offer for sale (OFS) 63,492,063 shares worth ₹2000 crores.
Retail investors can bid for the 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 can bid for a minimum of 611 shares. The price band for this issue has been fixed at ₹300-₹315. Retail investors can bid for at least one lot, which is 47 shares, at ₹315. So, if you apply for 1 lot at the upper price band of ₹315, you’ll have to bid ₹14,805.
At the same time, retail investors can bid for a maximum of 13 lots, which is 611 shares. For this, they will have to bid ₹192,465 according to the upper price band.
Aadhar Housing Finance: Premium at 19.68% in Grey Market
Before the IPO opened, the company’s shares were trading at a premium of 19.68% in the grey market, reaching ₹62 per share. In this scenario, according to the ₹315 upper price band, its listing could be around ₹377. Whether it’s just an estimate, the listing price of the shares differs significantly from the grey market price.
Company Provides Home Loans to Low-Income Earners
Aadhar Housing Finance Limited was established in 2010. The company provides home loans to low-income earners. Primarily, the company serves customers in Tier 4 and Tier 5 cities of the country.
The company provides mortgage loans for the purchase and construction of housing and commercial properties. As of September 30, 2023, the company has a network of 471 branches, including 91 sales offices, in 20 states of the country.
TBO Tech, Indegene, and Aadhar Housing IPOs: Reserved for Retail Investors
TBO Tech’s IPO has been earmarked for a maximum of 75% Qualified Institutional Buyers (QIBs). Additionally, 10% of shares are reserved for retail investors, and the remaining 15% are reserved for non-institutional bidders (NIIs). On the other hand, for Indegene and Aadhar Housing Finance IPOs, 50% of their shares are earmarked for QIBs, 35% for retail investors, and 15% for NIIs.
