Patel Retail, Gem Aromatics IPO Allotment Status Highlights: A busy day for many who applied for IPOs this week. The allotment for 4 IPOs is likely to be finalised today. These include Patel Retail, Shreeji Shipping, Gem Aromatics and Vikram Solar. You can check the IPO allotment status on BSE, NSE and the appointed registrars include Bigshare and KFin Tech.
The Patel Retail IPO was subscribed 95.69 times on Day 3. It is a Rs 242.76 crore book-built issue. It comprises a fresh issue of 0.85 crore shares and ‘Offer for Sale’ of 0.10 crore shares.
The Shreeji Shipping IPO was subscribed 58.08x. It is Rs 410.71 crore book-built issue. It is entirely a fresh issue of 1.63 crore shares. There is no OFS component in this IPO.
Gem Aromatics was subscribed 30.45x. It is a Rs 451.25 crore book-built issue. It is a combination of OFS and fresh issuance of shares. The IPO has fresh issue of 0.54 crore shares and 0.85 crore OFS.
Here is a look at how the various IPOs stack up in terms of valuation and investment rationale:
Anand Rathi on Patel Retail IPO
Patel Retail, headquartered in Ambernath, Maharashtra, is a value retail supermarket chain. The company aims to strengthen retail presence in Maharashtra by deepening market penetration and expanding their store network.
Anand Rathi highlighted that “at the upper price band, the company is valued at an FY25 P/E of 33.6x, with a post-issue market capitalization of Rs 850.4 crore.Each retail store offers over 10,000 SKUs, and the company’s strategy focuses on providing a wide product range at value-for-money prices with strong customer service, sustaining competitiveness through everyday low prices driven by efficient procurement, supply, and operations. Based on these factors, the IPO appears fully priced.”
Anand Rathi on Shreeji Shipping Global IPO
Shreeji Shipping Global is recognised as a leading player in the field of integrated shipping and logistics services in India.
According to Anand Rathi, “the company’s operational strength is further reinforced by the advantage of owning and managing its own fleet, which enhances reliability, efficiency, and service delivery for its clients.At the upper price band company is valuing at P/E of 28.5x to its
FY25 earnings, with EV/EBITDA of 21.4x and market cap of Rs 41,055 million post issue of equity shares.”
Anand Rathi on Gem Aromatics IPO
Gem Aromatics is engaged in the production of specialty ingredients such as essential oils, aroma chemicals, and value-added derivatives. The Company offers an extensive and diverse product portfolio, which continues to expand through ongoing product development and strong in-house research and development capabilities.
It operates both within India and across international markets. Speaking on its valuations, Anand Rathi highlighted that “at the upper price band company is valuing at P/E of 31.8x to its
FY25 earnings, with EV/EBITDA of 21.6x and market cap of Rs 1,697 crore post issue of equity shares.”
Patel Retail, Gem Aromatics IPO Allotment Status, GMP Price: Here is how to check the status online
Patel Retail, Gem Aromatics, Shreeji Shipping IPO Allotment Live Updates: Shreeji Shipping GMP
The Grey Market Premium for Shreeji Shipping fell slightly on Friday to stand at Rs 30 (at 10:36 pm). The estimated listing price of the IPO is Rs 282 with an 11.90% gain per share.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: Patel Retail IPO subscription details
The Patel Retail IPO was subscribed 95.70X by the end of Day 3. The Rs 242.76-crore initial public offer received bids for 74,79,89,402 shares against the 78,15,612 shares on offer.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: Gem Aromatics GMP details
The Grey Market Premium for Gem Aromatics fell slightly on Friday to stand at Rs 26 (at 7:55 pm). The estimated listing price of the IPO is Rs 351 with an 8% gain per share.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: Price band and lot size for Shreeji shipping
Shreeji Shipping Global had set its price band at Rs 240 to Rs 242 per share. The minimum bid lot for the IPO 58 shares --- meaning retail investors needed at least Rs 14,616 to apply for one lot. Those willing had the option to apply for up to 13 lots with an investment of Rs 1,90,008.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: GMP update for Patel Retail
The grey market premium for Patel Retail fell slightly on Friday to Rs 46 (as of 3:36 pm). The estimated listing price is Rs 301 with a projected profit of Rs 2668.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: About Gem Aromatics
Gem Aromatics specializes in fragrances, flavors, and aromatic chemicals, catering to FMCG, cosmetics, and personal care industries.
Founded in 1995, Shreeji Shipping is engaged in dry bulk cargo logistics. It operates a fleet of over 80 vessels and manages over 370 machines across India and Sri Lanka.
Patel Retail operates supermarkets under the ‘Patel’s R Mart’ brand, with presence mainly in Raigad and Thane districts of Maharashtra. It has been in business since 2008.
They aim to strengthen their retail presence in Maharashtra by deepening market penetration and expanding their store network. Their stores are spread across 17 cities and suburban areas in the Thane and Raigad districts of Maharashtra. Following a cluster-focused expansion strategy, they plan to strengthen their presence in the western suburbs of the MMR, including Mira Road, Bhayander, Virar, and Vasai, as well as expand into the municipal region of Pune, Maharashtra.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: Allotment and listing
Shares of Patel Retail IPO, Shreeji Shipping Global IPO, Gem Aromatics IPO allotted to bidders will be credited to their demat accounts by August 25. The listing date has been set as August 26.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: Business model for Patel Retail
Patel Retail is looking to strengthen its retail presence in Maharashtra by deepening market penetration and expanding the count of total stores that it operates.
Their stores are spread across 17 cities and suburban areas in the Thane and Raigad districts of Maharashtra. Following a cluster-focused expansion strategy, they plan to strengthen their presence in the western suburbs of the MMR, including Mira Road, Bhayander, Virar, and Vasai, as well as expand into the municipal region of Pune, Maharashtra.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: Price band and minimum investment
The price band Patel Retail was fixed at Rs 237 to Rs 255 per equity share, with a lot size of 58 shares. This means retail investors needed at least Rs 14,790 per lot to participate.
The price band of Shreeji Shipping Global IPO was set between Rs 240 to Rs 252 per share. The minimum retail application was 58 shares, amounting to Rs 14,616 per lot.
The Gem Aromatics IPO was priced between Rs 309 to Rs 325 per share. The retail lot size was 46 shares, requiring a minimum investment of around Rs 14,950.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: Issue size and structure
Patel Retail total IPO size stands at Rs 242.76 crore, divided into a fresh issue of 85.18 lakh shares (Rs 217.21 crore) and an Offer for Sale (OFS) of 10.02 lakh shares (Rs 25.55 crore).
Shreeji Shipping Global IPO public issue size is Rs 410.71 crore, with 1.63 crore equity shares on offer. It includes both a fresh issue and an OFS.
Gem Aromatics launched a book-built IPO worth Rs 451.25 crore. This includes a fresh issue of Rs 175 crore and an Offer for Sale worth Rs 276.25 crore, totaling 1.39 crore shares.
Patel Retail, Gem Aromatics, Shreeji shipping IPO Allotment Live Updates: IPO timeline
Patel Retail, Gem Aromatics IPO, Shreeji shipping global public issue opened on August 19, and closed on August 21. The allotment of shares was finalised on August 22, and the listing is scheduled for August 26, on both the NSE and BSE.