The initial public offer (IPO) of IRCTC or Indian Railway Catering and Tourism Corporation - the ticketing arm of the Indian Railways - received a strong investor interest in 2019, with a subscription of 111 times the issue size. The primary market had an upbeat 2019 thanks to the bouyancy in secondary markets. Conventional themes such as railways and financials, as well as emerging stories such as fintech caught the fancy of both institutional and retail investors.
Here's a look at some of the biggest IPOs of the year:
IRCTC, a government monopoly in the railway ticketing and catering business, tapped the IPO market from September 30 to October 12 with an Rs 645.12 crore issue in the price range of Rs 315-320 per share.
The primary offering was subscribed by 111 times. The shares - allotted at Rs 320 per share - soared to Rs 981 on debut day, marking a premium of 202 per cent over the issue price and are still going strong.
Affle (India), a mobile marketing platform, had an issue size of Rs 459-crore. The company sold shares in the price band of Rs 740-745 a share and the issue was subscribed 86 times.
Small Finance Bank, Ujjivan Small Finance Bank's IPO was priced in the band of Rs 36-37 a share and was oversubscribed 166 times. The lender raised Rs 750 crore through its primary offering.
The Rs 410-crore CSB Bank IPO was subscribed 87 times. The IPO was priced in a band of Rs 193-195 per share. The CSB bank share debuted on the Bombay Stock Exchange at a premium of 41 per cent.
Fast moving electric goods company, Polycab India approached the IPO market with an IPO of Rs 1,349.94 crore, priced between Rs 533 and Rs 538 per share. The issue was subscribed 52 times.
The IPO of Metropolis Healthcare was another big IPO issue during the year. The IPO of the pathology lab and diagnostics centre was worth Rs 1,204.29 crore and was subscribed 5.84 times. The price band for the issue was Rs 877 to Rs 880 per share.
Rail Vikas Nigam, an engineering project company of Indian Railways, offered shares in the price band of Rs 17-19. The IPO was subscribed 1.8 times and at the upper end of the price band, the issue size amounted to Rs 482 crore.
The Rs 476-crore IPO of online B2B marketplace, IndiaMart InterMESH was subscribed 36 times. The price band was Rs 970 - Rs 973 per share and the shares were issued at the higher end of the price band at Rs 973 per share.