Two Initial public offerings (IPOs) were listed on the stock market on Monday, September 29. The IPOs of Atlanta Electricals and Ganesh Consumer Products Ltd, which opened last week, were listed today with contrasting performances based on investor response and subscription data.
Atlanta Electricals IPO Listing
Atlanta Electricals’ issue price was Rs 718–Rs 754 per share. The stock listed on the BSE at a 13.81% premium, closing at Rs 858.10. The Atlanta Electricals IPO had an issue size of Rs 687.34 crore, including a fresh issue of Rs 400 crore. The price band was Rs 718–Rs 754. The IPO received a strong subscription of 70.6 times, with retail subscribed 10.4 times, Retail Individual Investors subscribed 54.2 times, and Qualified Institutional Bidders subscribed 195 times.
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According to market experts, Atlanta Electricals' IPO received a robust response from investors, with the 195 times Qualified Institutional subscription indicating strong institutional confidence. Researchers predicted an opening price of Rs 860–Rs 875 against the issue price of Rs 754, while advising investors to maintain a cautious approach with a stop loss of Rs 825.
Ganesh Consumer Products IPO Listing
Ganesh Consumer Products is listed on the BSE at Rs 295 against its issue price of Rs 322, representing an 8.39% discount. The IPO had an issue size of Rs 409 crore, including a fresh issue of Rs 130 crore. The price band was Rs 306–Rs 322. It received a total subscription of 2.6 times, with retail subscribed 1.1 times, Non-Institutional Investor subscribed 4.3 times, and Qualified Institutional subscribed 4.1 times.
An expert stated that the Ganesh Consumer Products Ltd IPO received a weak response, with the retail portion barely oversubscribed at 1.1 times. In the current weak market environment, a strong listing was not expected. Researchers advised low-risk investors to remain cautious and hold positions with a stop loss, noting that post-listing price movements of low-subscription IPOs are difficult to predict.