IPO: The stock market is once again in spring and its glory has started returning. The confidence of equity investors is beginning to be restored and hopes of higher earnings are rising. The result of this is that in the trading week ending on Friday, investors have offered to bid Rs 2 lakh 22 thousand crore for three IPOs. Investors have expressed their intention to buy 119 times the shares of Mobikwik, 27 times the shares of Vishal Megamart and 10.3 times the shares of Sai Life.
Is the era of weak listing over?
Looking at the inclination of investors towards IPO, it seems that the nightmare of weak listing may now be over. The bad phase of offering to buy shares is also gone now. All three IPOs together have raised an amount of more than Rs 11,600 crore. There has been a bid of more than Rs 22 thousand crore for pharma giant Sai Life Sciences. Similarly, MobiKwik System, a leading company in the digital payments sector, has received a bid of Rs 39 thousand 542 crore with an offer to buy 119 times more shares. At the same time, a bid of Rs 1 lakh 60 thousand crore has been received for fashion retailer Vishal Megamart, which has received 27.3 times the subscription. After the poor results of most of the IPOs in October-November, the performance of these three IPOs has raised hopes in the market. Despite Nifty 50 index falling 10 per cent from its record high in September, these IPOs have not been impacted much.
Enthusiasm aroused even in sidelined companies
Due to the good performance of all three IPOs, there has been enthusiasm among the companies lying on the sidelines of the stock market. There has been a surge of hope after the sharp rise in the market from the low levels of November. Nifty 50 index has risen by 6 percent from last month’s low levels. The stock market has also gained strength due to the reversed trend of foreign portfolio investors (FPIs).
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