It’s been a hectic October so far, especially for the primary markets. Several marquee IPOs made a debut on D’Street in the last 10 days. LG Electronics made a splash with a stunning 50% listing pop. However, there are several others that were not able to maintain the upswing after listing.
A look at how the recent listings in October fared so far –
LG Electronics
The home-appliance brand’s parent company made a bumper listing at a premium of 50% to the issue price. It was listed at Rs 1,710 per share on NSE and Rs 1,715 on BSE. As of now, the stock is trading at Rs 1,671.30, down 2.3% from the listing price. Even in terms of subscription, LG Electronics India clocked some record levels. It was subscribed 54 times, and the IPO attracted bids worth over Rs 4,000 crore.
LG Electronics India is a manufacturer and distributor of home appliances and consumer electronics (excluding mobile phones). The company sells products to B2C and B2B consumers in India and outside India. The company offer installation services, repairs and maintenance services for all their products.
Tata Capital
This was no doubt one of the most anticipated IPOs from the Tata Group. However, compared to the hype before the IPO, Tata Capital saw a rather subdued listing. It listed at Rs 330 on the NSE, a mere 1.23% premium to the issue price. Currently, the stock is trading 1.5% higher than the listing price.
Tata Capital is a diversified financial services company and a subsidiary of Tata Sons. TCL operates as a non-banking financial company (NBFC) in India, offering a wide range of financial products and services to retail, corporate, and institutional customers.
WeWork India Management
WeWork India Management is currently trading at Rs 644.85 on the National Stock Exchange, down 0.5% from its listing price. Also, the stock made a rather quiet debut, and the subscription for the IPO was comparatively subdued. The stock traded for the first time on October 10.
The company provides a comprehensive array of flexible workspace solutions, encompassing custom-designed buildings, floors and offices, enterprise office suites, tailored managed offices, private offices, co-working spaces, and hybrid digital solutions.
Canara Robeco
A day old in the secondary market, the joint venture of Canara Bank and Orix Corporation Europe N.V. (formerly Robeco Group N.V.), listed at Rs 280.25 per equity share on the NSE, a premium of 5.36%. Canara Robeco AMC is currently trading at Rs 300.45, which was 7% higher than the listing price.
The company serves as the investment manager for Canara Robeco Mutual Fund. The company AMC offers a diverse range of investment options, including equity, debt, and hybrid schemes.
