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    IPO Tracker: 4 out of 5 issues fully subscribed; Fedbank Financial lags

    Synopsis

    The IPO of IREDA was booked 3.41 times so far on the second day of the bidding process, led by strong interest from non-institutional investors, whose category was subscribed 5.73 times. IREDA shares are commanding a premium of Rs 10 in the unlisted market against an offer price of Rs 31.

    IPOAgencies
    Four out of the five IPOs that are currently open for subscription were fully booked, while one of them lagged. Here's a look at subscription, GMP, and other details.

    Tata Technologies
    The issue of Tata Technologies, which opened earlier today, sailed through, and the total subscription stood at 6.54 times so far on the first day of the bidding process. The IPO closes on November 24.

    In the grey market, the company's shares are trading with a premium of Rs 355.

    The IPO was priced in the range of Rs 475-500, where investors can bid for a minimum of 30 shares in one lot. At the upper price band, the issue size is about Rs 3,042 crore.

    The public offer is entirely an offer for sale (OFS) of 6.08 crore shares, under which, Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund will participate.

    Tata Technologies is a pure-play manufacturing-focused engineering research and development (ER&D) company, primarily focused on the automotive industry.

    IREDA
    The IPO of IREDA was booked 3.82 times on the second day of the bidding process, led by strong interest from non-institutional investors.

    IREDA shares are commanding a premium of Rs 10 in the unlisted market against an offer price of Rs 31.

    IREDA is India’s largest pure-play green energy financing NBFC and plays a strategic role in the development of renewable energy with a comprehensive suite of financial products and other value chain activities, such as equipment manufacturing and transmission.

    The IPO, which closes tomorrow, consists of a fresh issue of shares worth Rs 1,290 crore and an offer for sale of shares worth Rs 860 crore by the government.

    Gandhar Oil
    Gandhar Oil is another offer that has garnered strong interest from investors with the issue subscription at 3.39x so far on the first day of the bidding.

    The offer, which includes a fresh issue of Rs 357 crore and an OFS of Rs 143 crore, closes on November 24.

    The company's shares are fetching a premium of Rs 76 in the grey market. The IPO is priced in the range of Rs 160-169.

    Gandhar Oil is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end industries. Its product suite comprised over 350 products primarily across the personal care, healthcare, and performance oils, lubricants, and process and insulating oils divisions under the Divyol brand.

    Flair Writing, Fedbank Financial
    The IPO of Flair Writing was fully subscribed on the first day, driven by NII and retail investors, whose categories were fully booked. The QIB portion lagged with 55% subscription.

    On the other hand, Fedbank Financial saw the least amount of interest among all the IPOs with 70% subscription rate on the first day. Both issues close on November 24.

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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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