Stock Market: Strong participation of investors in Positron Energy and Sunlight Recycling Industries IPOs
IPO: Despite the continued volatility in the stock market, the initial public offers (IPOs) of Positron Energy and Sunlight Recycling Industries have generated unparalleled enthusiasm among investors. Both these IPOs ended on Wednesday, August 14, and the subscription figures surprised the market.
Positron Energy IPO
Positron Energy’s IPO was subscribed an unprecedented 385.88 times on the National Stock Exchange. The company had offered 14.65 lakh shares, and investors bid for 56.43 crore shares against it. The IPO opened on August 12 and the price band for it was fixed at Rs 238 to Rs 250. Gujarat-based Positron Energy provides management and technical advisory services to the oil and gas industry. The company raised Rs 51.21 crore through this IPO. The subscription figures are as follows:
- Non-Institutional Investors (NII): 807.1 times
- Retail Investors: 352.19 times
- Qualified Institutional Buyers (QIB): 230.87 times
Sunlight Recycling Industries IPO
Sunlight Recycling Industries IPO also received massive attraction among investors. This IPO got an oversubscription of 262.14 times. The company had put 20.61 lakh shares for sale and in return, bids were received for 54.04 crore shares. Sunlight Recycling Industries, a Gujarat-based company that manufactures copper rods, wires, bars and strips, had fixed a price band of Rs 100-105 for the IPO. The company raised Rs 30.24 crore from this IPO.
The subscription figures are as follows
- Non-institutional investors: 585.5 times
- Retail investors: 252.1 times
- Qualified institutional buyers: 108.8 times