Lukewarm response to Fusion Micro Finance IPO on Day 2; Bikaji Foods issue subscribed 0.19 times, Global Health at 0.04 times

Even as benchmark indices were trading in a range bound manner on Thursday, the primary markets also appeared to be on a slow footing. Three public issues are open for subscription – Fusion Micro Finance IPO, Bikaji Foods International IPO and Global Health IPO.

Fusion Micro Finance, whose IPO was launched on Wednesday has been subscribed only 0.20 times on the BSE as per the data available on the BSE. The Retail Individual Investors (RIIs) has subscribed this issue 0.23 times at 1. 20 pm. Non-Institutional Investors (NIIS) subscribed the issue 0.37 times while share bids received from Qualified Institutional Investors (QIBs) stood at 1,680 out of 59,56,362 shares available for subscription.

According to Zee Business Managing Editor Anil Singhvi, people should subscribe for returns in the long term. The company has very experienced and clean promoters and has a very strong growth outlook, he said.

Also Read: Fusion Micro Finance IPO review by Anil Singhvi: Subscribe or avoid? Check recommendation here

Bikaji Foods International IPO was overall subscribed 0.32 times. The RIIs subscribed the issue 0.57 times while NIIs subscribed the issue 0.19 times. Only 700 share bids were received from the QIB category out of 58,24,797 shares available for subscription. The issue which opened today will end on 7 November (Monday).

The Managing Editor Anil Singhvi has advised investors to subscribe Bikaji Foods International for the long term. He said that the brand has a strong standing with an impressive track record. He said that the company has an experienced promoter and is virtually debt-free. The shift from local to packaged snacks is a changing trend that will give a boost to the growth of the company.

Also Read: Bikaji Foods International IPO review by Anil Singhvi: Subscribe or avoid? Check recommendation here

Another issue which opened today was of Global Health which owns Medanta hospital. The issue was subscribed 0.04 times. The RIIs subscribed it 0.07 times while NIIs subscribed it 0.04 times. The BSE data suggested that no share bids were received from QIBs around this time. The total shares available for subscription are 1,35,24,905.

Singhvi said that investors should subscribe to this IPO for long-term gains. He further said that Global Health, backed by private equity investors such as Carlyle Group and Temasek, is known for providing the best health services. It operates a network of five hospitals under the 'Medanta' brand in Gurugram, Indore, Ranchi, Lucknow and Patna. In addition, one hospital is under construction in Noida.

Also Read: Global Health IPO review by Anil Singhvi: Subscribe or avoid? Check recommendation here

Meanwhile, frontline indices Sensex and Nifty were trading in a range bound manner.

Sensex was trading at 60,816.36, down by 89.73 points or 0.15 per cent, Nifty50 was trading at 18,044.85, lower by 38 points or 0.21 per cent from the Wednesday closing levels.

Also Read: Stock Market LIVE: Sensex, Nifty move range bound as IT, auto stocks dampen mood; Bajaj Auto remains outlier