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SME IPO: Most initial public offers (IPOs) in the year 2022 failed, then it was believed that there would be less interest among investors now. However, this pattern seems to change in the second half of the year 2023. SME IPOs have played the most important role in changing this pattern. If you look at the pattern in the second half, not only has interest in SME IPOs increased, but investors who bet on them have also made huge profits. There are many such SME IPOs that have doubled or more profits on the day of listing.
Shocking subscription: There are still many SME IPOs, the subscription of which is staggering. Basilik Fly Studio’s IPO was oversubscribed 286 times, the highest in recent times. Following strong demand from various categories of investors, Basilik Fly Studio’s issue was raised at Rs. Bids of more than 14,000 crores were received. This Chennai based VFX Studio Company Rs. 66 crore IPO was brought. Its listing in the gray market is expected to increase by over 200 percent.
Many more IPOs: Investor enthusiasm is not limited to this one IPO, but can be seen as a broader trend for most SME IPOs in 2023. Last week, around three companies – Shura Designs, Sangner Energies and Bonada Engineering – debuted on the SME platform of both BSE and NSE and doubled investors’ wealth on all three listing days. Sunganar’s SME IPO returned over 200% on the first day itself. Sungerner’s IPO was subscribed about 152 times, while Bonada Engineering’s was booked 106 times.
Other IPOs like Srivari Spices, Drone Destination and Oriana Power were also oversubscribed more than 100 times. Shrivari Spices Rs. 9 crore public issue 450 times and Oriana Power’s Rs. 59 crore public issue was subscribed 176 times.