Last Updated on May 24, 2022 by Anjali Chourasiya
2021 has been the year of IPOs. As per a report by Ernst & Young, between January and September 2021, 72 IPOs were launched in India raising a mammoth total of USD 330.66 bn. Furthermore, between October and December 2021, 35 IPOs are in the pipeline.
The ongoing pandemic also could not dampen the market spirits as Indian investors remained highly receptive to most listings this year. As such, it would not be an exaggeration to state that 2021 was indeed a high point for Indian companies going public.
While there are more than 100 IPOs in 2021, not every company managed to open at a high. Nykaa, Paras Defence, Zomato stormed the market with their listing, while Paytm, the largest buzz generator this season failed to make any impact.
Though most IPOs were fully subscribed, some broke all records. So, here’s a look at the top 10 subscribed IPOs of 2021 so far.
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Latent View Analytics
Leading the IPO race was Latent View Analytics IPO which was oversubscribed more than 326 times. An Rs. 6,000 cr IPO, Latent View offered its shares at a price band of Rs. 190 to Rs. 197. The company issued a subscription for 572.2 cr shares valuing Rs. 1.12 lakh cr compared to the IPO size of Rs. 6,000 cr only.
Paras Defence and Space Technologies Limited
A leading name in the defence and space sector, Paras Defence was the second most subscribed IPO of 2021. Against 71,40,793 shares issued by the company, it received a subscription for 2,17,26,31,875 shares, getting oversubscribed by 304.26 times. The Grey Market Premium (GMP) before listing was high and the company made an impressive debut on the stock exchange when Paras‘ shares opened at Rs. 475/unit against the IPO price of Rs. 175/unit.
Tega Industries Limited
Tega Industries launched an IPO worth Rs. 619 cr that was oversubscribed – 219 times by investors. Strong demand among HNI investors and qualified institutional buyers (QIB) drove the oversubscription. The HNI quote was oversubscribed by 666 times while the QIB quote was oversubscribed by 219 times. The company’s stock also made a good debut on the stock market, opening at Rs. 760/share against the issue price of Rs. 453/share.
MTAR Technologies Limited
MTAR Technologies, subscribed 200.79 times, issued 72,60,694 shares in its IPO against which the company received subscriptions for 1,45,79,03,122 shares. This IPO also saw primary oversubscriptions in the QIB and Non-Institutional Investors (NII) category. While the QIB category was oversubscribed by 164.99 times, the NII category was oversubscribed 650.79 times.
Tatva Chintan Pharma Chem Limited
Tatva Chintan’s IPO opened for a price band between Rs. 1,073 to Rs. 1,083 per share was subscribed 180.36 times. The IPO saw a 512.22 times oversubscription by the NII quota and 185.23 times by the QIB quota. The leading chemical company located in Gujarat, Tata Chintan also made a positive market debut after witnessing a more than 100% premium in its share price in the grey market.
Nazara Technologies Limited
The first gaming company, Nazara Technologies Ltd, wherein Rakesh Jhunjhunwala, has a 10.82% stakeholding was oversubscribed more than 175 times due to a strong demand by HNI investors. The IPO size was Rs. 2,000 cr and it was opened to investors at a price band of Rs. 1,100 to Rs. 1,101/share.
Easy Trip Planners Limited
Easy Trip Planners Ltd was sized Rs. 510 cr. was oversubscribed more than 159 times at a price band of Rs. 186 to Rs. 187 per equity share. The NII category was the most oversubscribed at 282.21 times, while the retail category got oversubscribed 70.4 times. The company, however, did not have a very strong listing at it listed at a premium of a meagre of 13.5%, a figure not impressive for an IPO that was oversubscribed more than 150 times.
CE Info Systems Limited
A leading name in digital maps and location-based IoT technology, C E Info Systems is the latest IPO to hit the markets. The IPO period was between 9 December to 13 December 2021 at a price band of Rs. 1,000 to Rs. 1,033 per share. The IPO saw a robust demand as it was oversubscribed more than 154 times after the allotment date of 16 December 2021. With a considerable grey market premium, the stock of the company is expected to make a good debut on its listing date i.e 21 December 2021.
Go Fashion (India) Limited
Opened on 20 November 2021, Go Fashion (India) Limited launched a 3-day IPO that was subscribed 135.46 times. The IPO size was Rs. 1,013.6 cr, and the price range per share was quoted at Rs. 655 to Rs. 690. The IPO consisted of a fresh issue of Rs. 125 cr and an Offer for Sale for 12,878,389 shares. Against the 80,79,491 shares offered, subscription was received for 1,09,44,34,026 shares.
Rolex Rings Limited
Rolex Rings issued an IPO of Rs. 731 cr. The IPO was oversubscribed more than 130 times as QIB bid more than 143 times, and NII bid more than 360 times their allotted quota. The company’s stock also made a decent listing on the stock exchange as it recorded a 33% listing gain on its first day.
Here’s a quick snapshot of the top 10 IPOs of 2021 and how they debuted on their listing day:
|Name of the IPO||Oversubscribed by||IPO price||Debut listing price on the NSE||% gain on listing|
|Latent View Analytics||326.47 times||Rs.197/share||Rs.530/share||169.04%|
|Paras Defence and Space Technologies Limited||304.26 times||Rs. 175/share||Rs. 475/share||171.43%|
|Tega Industries Limited||219.04 times||Rs. 453/share||Rs. 760/share||68%|
|MTAR Technologies Limited||200.79 times||Rs. 575/share||Rs. 1,063.9/share||85.03%|
|Tatva Chintan Pharma Chem Limited||180.36 times||Rs. 1083/share||Rs. 2,111.8/share||95%|
|Nazara Technologies Limited||175.46 times||Rs. 1101/share||Rs. 1990/share||80.74%|
|Easy Trip Planners Limited||159.33 times||Rs. 187/share||Rs. 212.2/share||13.5%|
|C. E. Infosystems Limited||154.71 times||Rs. 1033/share||Not yet listed as of 20 December 2021||NA|
|Go Fashion (India) Limited||135.46 times||Rs. 690/share||Rs. 1,310/share||90%|
|Rolex Rings Limited||130.44 times||Rs. 900/share||Rs. 1,200/share||33.33%|
These were the top 10 IPOs of the year 2021 so far. The IPO race is expected to continue in 2022 with the much-awaited LIC IPO. Make sure you read in detail on the subscription, price band, all investor shares – QIB, NII and RII – and only then plan on investing in any IPOs. Major buzz creators did not do well on the markets while many underdogs outperformed. Keep this in mind before making an investment. So, which of these IPOs did you subscribe for?