The latest IPO listing highlights on 26 August of the four companies of India that made their stock market debut: Vikram Solar, Patel Retail, Gem Aromatics, and Shreeji Shipping.
Vikram Solar IPO
The manufacturer of solar photovoltaic modules is making its market debut at a 1.8% premium of ₹338 per share on the NSE. The issue was done at ₹332 and opened at ₹340 per share on 2.41%. The counter saw strong investor interest after listing, rising as much as 10% intraday despite the slow start, indicating underlying confidence in the company’s growth trajectory.
Vikram Solar is currently trading at a P/E multiple of roughly 72x, which is higher than its domestic rivals in the manufacturing sector of renewable energy.
The company was valued at ₹12,931.38 crore on the market. Subscriptions for the ₹2,079 crore initial public offering (IPO) were 54.63 times the amount offered.
Patel Retail IPO
Patel Retail’s share price ended at ₹290. There is a decrease of 3.33% from the opening price of ₹300. BSE listed the stock at ₹305. This represents a premium of 19.60% over the issue price of ₹255 and a gain of 17.65%.
Gem Aromatics IPO
Gem Aromatics marked their closing price at ₹322.9 on the NSE. Compared to the opening price, this represents a 3.06% drop. When the stock first appeared on the NSE, it was trading at ₹333.10. Compared to the issue price of ₹325, there was an increase of 2.49%.
Shreeji Shipping IPO
Shreeji Shipping Global marked its closing price at ₹254.4 on the NSE. This is a 5.78% drop from the opening price. The stock had its first appearance at ₹271.85 on the BSE. There is a 7.87% increase from the issue price of ₹252. It debuted at ₹270 on the NSE. This is around a 7% premium.
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