Sigachi Listing: On the first day of the week, today the shares of 3 companies were listed on the stock exchange. All three IPOs came earlier this month. The share of Sigachi is listed on the stock exchange at 262% as compared to the IPO price. While the stock of SJS has disappointed. The share of Policy Bazaar is listed at 17% higher price.
All Three Issues Were Open Between November 1-3
All three issues were open between November 1-3. The gray market premium of the policy market had come down from Rs 300 to Rs 60. It brought IPO at a price of Rs 940 to 980. It had raised Rs 5,625 crore from the market. The share got listed at Rs 1,150. That is, it has given a profit of 17% to the investors. However, later it was trading at Rs 1,189 with a gain of 4%. While its one-year high of Rs 1,205 was also touched. Its market cap is 53 thousand crores.
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Upper and Lower Price Band of 20%
The upper and lower price bands are of 20%. The issue of the company was filled 16.58 times. It got a bid for a total of Rs 56 thousand crore. It is involved in the business of online insurance. Retail’s share was filled 3.31 times in this. The company has raised Rs 3,750 crore through fresh issue while Rs 1,960 crore has been raised through offer for sale. The company had a loss of Rs 150 crore in FY 2021. There was a loss of Rs 110 crore in the June quarter.
Sigachi Had Landed to Raise Rs 125 Crore
Sigachi had entered the market to raise Rs 125 crore. It fixed its price from Rs 161 to Rs 163. Recently, this company has become the biggest gainer in listing. Which has given a profit of 2.52 times. That is, an investment of Rs 163 became Rs 575. Its premium was up 100% in the gray market. But it gave twice as much benefit. Its IPO got a response of 102 times. Retail investors had filled their stake 80.49 times. Sigachi Listing.
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SJS Had Fixed the Issue Price at Rs 542
SJS had fixed the issue price at Rs 542. Its share is listed at Rs 547 i.e. 1% higher price. However, later it fell by 4% to Rs 523. The company’s issue was filled 1.59 times. Retail’s share was full 1.42 times. It had entered the market to raise Rs 800 crore. The IPO was purely an offer for sale. That is, the promoters and existing shareholders of the company have sold their stake. The company had made a profit of Rs 47.76 crore in the financial year 2021.
Second Best Share on Sigachi Listing
Sigachi is the second company in the Indian IPO market whose shares are listed at 2.52 times higher price. Earlier, the stock of Tania Construction was listed on the exchange in April 2006 with a gain of 2.6 times. This company had brought the issue for Rs 50 and the share was listed at Rs 180. However, this stock has now become penny stock i.e. cheap price. It is trading down 83%.
