September has been one of the busiest months for IPOs in the Indian stock market in recent years. About 25 companies went for IPO in September. The majority of the IPOs saw a good response from the investors.
About 15 IPO raised approximately $1 billion in the last 1 month. While some IPOs were trending for their sheer size and brand recognition, others attracted the investors’ attention for their healthy balance sheets and growth trajectory. Here the the four most trending IPO in Google Trends in September.
Urban Company
The home service solution major, Urban Company, raised Rs 1,900 crore via IPO on September 10. The company fixed the issue price at Rs 103 per share, valuing the company at Rs 14,790 crore at the upper band.
On the last day of bidding company received 103.6 times subscription, receiving bids for 11,06,46,08,960 shares against 10,67,73,244 shares on offer.
Urban Company IPO’s Qualified Institutional Buyers category got subscribed 140.20 times, and the non-institutional investors portion fetched 74.04 times subscription. The IPO’s Retail Individual Investors (RIIs) part received 39.25 times subscription.
The issue was finally listed 4% higher.
GK Energy
GK Energy’s Rs 464 crore IPO received 89.62 times subscription in the last bidding. The company’s IPO received bids for 1,98,77,78,982 shares against 2,21,80,828 shares on offer.
GK Energy’s IPO for the non-institutional investors portion got subscribed 122.72 tigot mes subscription, while the quota for the retail individual investors part got subscribed 6.84 times. The IPO’s Qualified institutional buyers portion received 20.79 times subscription.
Jain Resources
Jain Resources Recycling’s IPO received 15.9 times subscription on the last day of bidding. The Rs 1,250 crore IPO of the Tamil Nadu-based company offered a fresh issue of Rs 500 crore and Rs 750 crore worth shares as Offer for Sale.
Jinkushal Industries
The Rs 116 crore IPO of Jinkushal Industries entered the third day of bidding on Monday, September xx. By the end of day 2 of bidding, the company had received 5.11 times the subscription.