Of the 3 IPOs, Senores Pharma steals limelight with 93.4x bids

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It was mixed day at the primary market for three companies whose issue closed for public subscription. The IPO of Senores Pharmaceuticals turned out to be a blockbuster with a subscription level of 93.41 times, while Ventive Hospitality saw a strong response of 9.80 times. Carraro managed to sail through with 1.12 times.

Senores Pharmaceuticals issue received bids of 79.72 crore shares against the offered 85.34 lakh shares. The quota reserved for retail portion and non-institutional investors was subscribed 89.21 times and 96.11 times respectively, while QIBs portion was subscribed 94.66 times. Employee portion too saw a healthy subscription of 19.92 times.

The IPO, at a price band of ₹372-₹391, comprised a fresh issue worth ₹500 crore and an offer-for-sale of up to 21 lakh shares, worth ₹82.11 crore, by promoters and other selling shareholders. Ahead of the IPO, the company has garnered ₹260.62 crore from anchor investors .

Ventive Hospitality

Blackstone-backed Ventive Hospitality’s ₹1,600-crore IPO, which opened in a price band of ₹610-643, received bids for 14.14 crore shares against 1.44 crore shares on offer. HNIs’ portion was subscribed 13.85 times followed by QIB (9.08 times) and retail investors (5.87 times). Quota reserved for employees saw bid of 9.49 times. It had raised ₹719.55 crore from anchor investors ahead of the issue.

However, IPO of Carraro India (entirely an OFS) only received bids of 1.46 crore shares against the offered 1.31 crore shares.

Retail investors and NIIs 

Retail investors and NIIs remained muted as their respective portions were undersubscribed at 0.71 times and 0.60 times. However, QIB window witnessed a subscription of 2.21 times.

The IPO came out with a price band of ₹668-704. Carraro India had raised ₹375 crore from anchor investors.