The initial public offerings (IPOs) of Transrail Lighting Ltd and Concord Enviro Systems are set to close for subscription today, December 23, 2024. Both IPOs, which opened for bidding on December 19, have garnered significant investor interest and will list on the BSE and NSE following the subscription period.
Transrail Lighting IPO: Key Highlights
The ₹838.91 crore IPO of Transrail Lighting includes a fresh issue worth ₹400 crore and an offer-for-sale (OFS) of 1.01 crore shares by the promoter, Ajanma Holdings Pvt Ltd. Ahead of its launch, the company raised ₹246 crore from anchor investors.
Subscription Status
As of December 20 (Day 2), the IPO was subscribed 5.31 times, with the following breakdown:
- Non-Institutional Investors (NII): 7.23 times
- Retail Investors: 6.90 times
- Qualified Institutional Buyers (QIBs): 1.38 times
Grey Market Premium (GMP)
With a price band of ₹410-432 per share, Transrail Lighting shares are commanding a GMP of ₹180, indicating a likely listing price of ₹612. This represents a premium of approximately 42% over the upper price band. The allotment of shares is scheduled for December 24, with listing expected on December 27.
Concord Enviro IPO: Key Highlights
Concord Enviro Systems Ltd, a provider of environmental engineering solutions, aims to raise ₹500.33 crore, comprising:
- A fresh issue of ₹175 crore.
- An OFS of 46.41 lakh shares, valued at ₹325.33 crore.
The company secured ₹150 crore from anchor investors ahead of the IPO.
Subscription Status
By the end of Day 3 (December 22), Concord Enviro’s IPO achieved a subscription of 1.24 times, with the following category-wise details:
- Retail Investors: 2.01 times
- Non-Institutional Investors: 1.01 times
- QIBs: 1%
Grey Market Premium (GMP)
The IPO is priced at ₹665-701 per share, with a current GMP of ₹40, suggesting a potential listing price of ₹741. This represents a modest gain of approximately 6%. The shares are expected to be allotted on December 24 and listed on December 27.
Investor Insights
Both Transrail Lighting and Concord Enviro IPOs have shown strong demand, particularly among retail and non-institutional investors. While Transrail Lighting boasts a significant grey market premium and higher subscription levels, Concord Enviro offers steady returns backed by its niche in environmental engineering solutions.
Investors can expect allotment updates on December 24, with shares credited by December 26 and trading commencing on December 27.
