As 2024 enters its final phase with just three trading days remaining, its a busy day at the exchanges with 6 listings scheduled today.
Among these 6 public issues making their debut on the Indian bourses, the two mainboard issues that are at the centre of everyone’s attention is – DAM Capital Advisors and Mamata Machinery. Ahead of their listing, these offerings have captured significant attention amongst investors, generating a considerable buzz in the grey market.
Let’s take a look at both these issues and what their GMP indicates ahead of their official listing on the stock exchanges.
DAM Capital Advisors Vs Mamata Machinery IPO GMP- Here is What the Recent Trend Indicates:
Grey Market Premium (GMP)
In the grey markets, as per the latest update Mamata Machinery’s IPO is commanding at a premium of Rs 255, which translates to an estimated listing price of Rs 498, a 104.94 per cent higher than its issue price of Rs 243.
Comparing it with the other mainboard issue, DAM Capital Advisors is trading at a premium of Rs 155, with an estimated listing price of Rs 438, a 54.77 per cent premium over its issue price of Rs 283.
Issue Size and Structure
Mamata Machinery’s IPO is a relatively smaller issue in comparison to DAM capital, with an issue size of Rs 179 crore. The entire offering is an Offer for Sale (OFS), meaning the proceeds will go to the selling shareholders rather than the company.
On the other hand, DAM Capital Advisors IPO has an issue size of Rs 840.25 crore, also entirely an OFS.
The smaller size of Mamata Machinery’s IPO has made it more attractive to retail investors, while DAM Capital’s larger offering appeals to institutional players.
Subscription Levels
Both the IPOs received an overwhelming response from investors. Mamata Machinery’s IPO secured an overall subscription of 194.95 times. Retail investors subscribed 138.08 times, Qualified Institutional Buyers (QIBs) subscribed 235.88 times, and Non-Institutional Investors (NIIs) subscribed 274.38 times.
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When looking into the subscription figures of DAM Capital Advisors IPO, it received a total subscription of 81.88 times of the final day of bidding. It was subscribed 26.8 times by retail investors, 166.33 times by QIBs, and 98.47 times by NIIs.
Anchor Investor Participation
Ahead of the opening of the public issue, both companies secured funding from anchor investors. Mamata Machinery raised Rs 53.56 crore from anchor investors, while DAM Capital Advisors garnered Rs 251.48 crore.