Powerica, Sai Parenteral’s, Amir Chand: 3 IPO listings today; check latest GMPs

Three companies, namely- Powerica, Amir Chand Jagdish Kumar (Exports), Sai Parenteral’s- are set to make their Dalal Street debut on Thursday, April 2 and all the listing-bound companies are likely to deliver a mixed performance to the investors, if one goes by their recent grey market premium.

All the three issues were open for subscription between March 24 and March 27 for the investors, receiving mixed responses. All the three companies will be listed on both BSE and NSE. Brokerage firms had mixed reviews on these issues, mostly suggesting a subscribe with cautious or long-term view on the back of rich valuations and volatility in the broader markets.

Power solutions player, Powerica, raised a total of Rs 1,100 crore via its primary offering. The issue was sold for Rs 395 apiece with a lot size of 37 equity shares and was overall subscribed 1.45 times during the bidding period. Last heard, the company was commanding a grey market premium (GMP) of Rs 10 apiece, suggesting a mild listing gain of 2-3 per cent for the investors.

Amir Chand Jagdish Kumar (Exports), the rice exporter under ‘Aeroplane’ was commanding a GMP of Rs 5-6 apeice, suggesting a similar listing pop of 2-3 per cent for the investors. The Rs 440 crore IPO saw an overall bidding for 3.23 times. Its shares were sold for Rs 212 apiece with a lot size of 70 equity shares.

Sai Parenteral’s, which raised a total of Rs 409 crore via IPO, was overall subscribed 1.05 times. The Pharma player sold its shares for Rs 395 apeice with a lot size of 37 shares. Ahead of debut, it was commanding negligible premium in the grey market, which was consistent throughout.