The IPO season is upon us and while the likes of Aadhar Housing Finance and TBO Tek are lining up issue their IPOs, Indegene has taken the markets by storm, as news surrounding it is trending online. As per latest reports, 26 per cent of the healthcare company's IPO has been subscribed in the early hours of the trading day. The IPO closes on 8 May.
Amongst the early bird Non-Institutional Investors or NII appear to have flocked to make the most of the IPO. This, as 44 per cent of the reserved tranche has already been subscribed.
In all, the Investors bid for 75.34 lakh equity shares against the total issue size of 2.29 crore shares.
Interestingly, as per recent reports, Qualified institutional Investors or QII are yet to jump onto the bandwagon of the Indegene IPO.
Indegene is a biopharmaceutical, manufacturing biotech and medical devices.
Shares In Grey Market
As far as the Grey market is concerned, In the secondary market, shares were being traded at a premium of more than 57 per cent compared to the initial issue price.
Major IPOs in the past few months have fetched massive numbers, as they have been oversubscribed significantly, may it be JK Chemicals or Bharti Hexacom, both attained great number. However, the eventual result, once they were listed was different. As many of the recent IPOs got off to a rocky start after being listed on the equity markets.
As of today, Indian indices are trading on an relatively uneventful note, with Nifty and Nifty bank, trading in red, with a minor decline. Meanwhile, Sensex is trading flat, at around 0.01 per cent.
