All 4 IPOs OVERSUBSCRIBED on LAST DAY; Devyani International gets maximum traction – Learn what strategy should be applied in these issues from Anil Singhvi

On the last day of the subscription, the initial public offer of four companies — Exxaro Tiles, Krsnaa Diagnostics, Devyani International, Windlas Biotech was fully subscribed on August 6. The four offers were launched together on August 4, 2021.

The Exxaro Tiles was overall subscribed by 22.56 times. Wherein, the qualified institutional buyers (QIBs) portion was oversubscribed by 17.67 times, the non-institutional investors (NIIs) portion by 5.36 times, the retail individual investors (RIIs) portion by 39.85 times, and the portion reserved for employee was subscribed by 2.53 times.

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While, Krsnaa Diagnostics was subscribed almost 64.35 times, in which QIBs category by 49.83 times, NIIs by 116.3 times, RIIs subscribed most than other investors by 41.76 times, and the portion reserved for employee was subscribed by around 1 time.

Similarly, Devyani International’s IPO was subscribed over 116.67 times. The QIBs subscribed 95.27 times; the wealthy investor portion was subscribed most by 213 times, the retail investor portion by 39.33 times and the portion reserved for employees was subscribed by 4.7 times on the last day.

And, Windlas Biotech was subscribed lowest of all IPOs by around 22.39 times on the last day. It’s QIBs category by 24.4 times, the wealthy investor portion by 15.73 times, and retail investors by 24.11 times.

KFC and Pizza Hut franchisee Devyani International's IPO size is Rs 1,838 crore; Diagnostic chains Krsnaa Diagnostics is Rs 1,213 crore, pharmaceutical firm Windlas Biotech is Rs 401 crore and vitrified tiles manufacturer Exxaro Tiles is Rs 161 crore. All four IPOs will be closed on Friday.

Zee Business Managing Editor and Market Guru Anil Singhvi in the IPO review had recommended to invest in Devyani International IPO for big listing gains and also for long-term investments, adding that the brand is very strong which cuts across all ages groups.

Krsnaa Diagnostics is relatively smaller than its peers - Dr Lal Path Labs and Metropolis Healthcare. However, it has a different business model and they are into value-added services, Singhvi said.

CarTrade Tech, Nuvoco Vistas Corporation, Chemplast Sanmar, and Aptus Value Housing Finance India are scheduled to launch their IPOs next week.