From DMart To Hudco: Most Successful IPOs So Far In 2017
Indian IPO market has seen robust demand from investors - retail and institutions alike - since the beginning of 2017. From manifold bids to significant gains in investors' wealth, these companies continue to surprise the Street with their stock performance. Here's a list of five companies which came in 2017 to deliver positive returns so far.
Avenue Supermarts IPO (March 8 to March 10)
Size: Rs. 1,870 crore
Price: Rs 295-299
Subscription: 104 times
The public offer of Avenue Supermarts - the operator of retail chain DMart - received robust investor interest. The DMart IPO received bids for 460.22 crore shares as against the total issue size of 4.43 crore shares. Avenue Supermarts shares have delivered a 141 per cent return as of May 19.
Hudco IPO (May 8 to May 11)
Size: Rs 1,220 crore
Price: Rs 56 to Rs 60
Subscription: more than 79 times
State-run Housing and Urban Development Corp or Hudco's IPO, the first of a Central Public Sector Enterprise since April 2012, received bids worth Rs. 97,000 crore - marking the highest oversubscription in any PSU disinvestment. Hudco shares have given a 21 per cent return.
Bombay Stock Exchange IPO (January 23 to January 25)
Size: Rs 1,243 crore
Price: Rs 805 to Rs 806
Subscription: 51 times
The initial public offer of Asia's oldest exchange was the first IPO of year 2017. The Bombay Stock Exchange or BSE IPO received bids for 55,23,34,986 shares as against the total issue size of 1,07,99,039 shares. BSE Limited shares have delivered a 33 per cent return.
Shankara Building Products IPO (March 22 to March 24)
Size: Rs 345 crore
Price: Rs 440 to Rs 460
Subscription: more than 41 times
The retailer of home improvement and building products received bids for 21.87 crore against 53 lakh shares on offer. Home improvement and building products retailer Shankara Building's shares were sold in a price range of Rs 440 to 460 apiece. Shankara Building shares have given a 54 per cent return.
Music Broadcast IPO (March 6 to March 8)
Size: Rs 488 crore
Price: Rs 324 to Rs 333
Subscription: 39 times
FM radio stations operator Music Broadcast's public offer received bids for 41,34,94,155 shares as against the total issue size of 1,04,80,784 shares. Music Broadcast shares have given a 2 per cent return.