Three prominent companies—Akums Drugs and Pharmaceuticals, Ceigall India, and Ola Electric—are currently in the spotlight due to their initial public offerings (IPOs). Each of these companies is seeking to raise significant capital from the market, attracting various investor categories. Here's a summary of key details regarding these IPOs:

Key Points Summary

  1. Akums Drugs and Pharmaceuticals IPO

    • IPO Period: July 30, 2024, to August 1, 2024.
    • Subscription Details: Received strong investor interest, with the IPO being subscribed 40.08 times by the end of the bidding process.
    • Price Band: Rs 646-679 per share.
    • Fundraising Target: Rs 1,856.74 crore, including a fresh issue of Rs 680 crore and an offer-for-sale (OFS) of 1,73,30,435 equity shares.
    • Investor Categories: High demand from qualified institutional buyers (QIBs) at 49.69 times subscription, non-institutional investors (NIIs) at 37.84 times, and retail investors at 17.92 times.
    • Company Profile: A leading CDMO with significant market share in the Indian pharmaceutical sector.
    • Market Sentiment: Positive, with a grey market premium indicating a listing pop of about 25%.
    • Analyst Recommendations: Generally positive, with advisories to subscribe due to strong market positioning and growth potential.

  2. Ceigall India IPO

    • IPO Period: Started on August 1, 2024.
    • Subscription Details: Subscribed 29% on the first day, with strong demand from employees and retail investors.
    • Price Band: Rs 380-401 per share.
    • Fundraising Target: Approximately Rs 1,253 crore, including a fresh issue and an OFS by existing shareholders.
    • Investor Categories: High demand from employees and retail investors, with NIIs showing moderate interest.
    • Company Profile: A fast-growing EPC company specializing in road and highway projects.
    • Market Sentiment: Positive, with a grey market premium translating to a 22% expected listing gain.
    • Analyst Recommendations: Encouraged subscription due to the company’s growth prospects and strong execution capabilities.

  3. Ola Electric IPO

    • IPO Period: August 2, 2024, to August 6, 2024.
    • Subscription Details: Set to raise Rs 6,145.56 crore through a combination of fresh issue and OFS.
    • Price Band: Rs 72-76 per share.
    • Fundraising Target: Rs 6,145.56 crore, including Rs 5,500 crore from a fresh issue and Rs 645.56 crore from an OFS.
    • Investor Categories: Minimum lot size for retail investors is 195 shares; sNII and bNII categories have higher lot sizes.
    • Company Profile: A leading player in electric vehicle manufacturing with a focus on innovative components.
    • Market Sentiment: Positive, with a grey market premium suggesting a 21.71% expected listing gain.
    • Analyst Recommendations: Strong interest due to the company’s leadership in the electric vehicle market and strategic growth initiatives.