IPO News Today: Onyx Biotech IPO got 5.19, Zinka Logistics IPO got 0.28 times subscription in Day2
Two contrasting IPO performances marked the second day of subscription on November 14, 2024, with Onyx Biotec Limited witnessing robust demand while Zinka Logistics Solutions Limited showed tepid response.
Onyx Biotec’s SME IPO recorded a 5.19 times overall subscription by 11:42 AM, with investors bidding for 1.79 million shares against 344,400 shares on offer. The retail portion led the surge, attracting 4,830 applications at cut-off price for 966,000 shares and 2,448 price-specific bids for 489,600 shares. Non-institutional investors placed 370 applications for 342,200 shares, predominantly from individual bidders.
In contrast, Zinka Logistics’ IPO managed only 0.28 times overall subscription by 11:33 AM, with bids for 63.92 lakh shares against the offered 2.25 crore shares. The employee portion emerged as the sole bright spot, achieving 4.45 times subscription with bids for 1.15 lakh shares against 26,000 reserved shares.
Zinka’s retail portion secured 0.72 times subscription, while QIBs showed limited interest at 0.26 times subscription. The NII category recorded the lowest response at 0.03 times, with minimal corporate participation.
Both IPOs opened on November 13 and will close on November 18, 2024. Notably, Onyx Biotec’s QIB portion has yet to receive any bids, while Zinka’s QIB participation has been primarily driven by Foreign Institutional Investors.
The divergent responses highlight the selective approach of investors in the current market, with smaller offerings like Onyx Biotec drawing stronger retail interest compared to larger issues like Zinka Logistics.
The Mangal Compusolutions IPO concludes today, though the latest subscription data is yet to be updated on the BSE.