Global Health, Bikaji Foods IPOs see stellar subscription on final day

The initial public offer (IPO) of Global Health was subscribed over 9 times on the last day of issue on November 7. The firm received bids for 44.79 crore shares against an IPO size of 4.67 crore shares amounting to a subscription of 9.58 per cent on the third and last day of bidding. On the other hand, the IPO of Bikaji Foods International was subscribed nearly 27 times on the final day of bidding on Monday (November 7). The initial share sale received bids for 55.04 crore shares against 2.06 crore shares on offer amounting to a subscription of 26.67 times, according to BSE data.   

Global Health IPO 

The company offered its shares in a price band of Rs 319 to Rs 336. At the upper end of the price band, the share sale is expected to fetch Rs 2,206 crore. The quota for retail investors was subscribed 88 per cent of the allotted portion, while the portion set aside for non-institutional investors was subscribed 4.02 times today.  On the second day of IPO on November 4, the issue was subscribed 49 per cent. The IPO of Global Health -the operator of Medanta hospitals - received bids for 2.3 crore shares against 4.7 crore shares on offer, according to provisional exchange data. 

Of the total IPO, 50 percent is reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors - or high net worth individuals - and 35 percent for retail investors. 

The lot size of Global Health IPO is 44 shares for which one will have to spend Rs 14,784. A retail individual investor can submit bids for up to 13 lots or 572 shares by spending Rs 1,92,192. The grey market premium (GMP) of Global Health IPO stood at Rs 15 today, according to IPO Watch. This means that the stock is likely to be listed at Rs 351. The firm will announce allotment of shares on November 11, 2022. The shares are likely to make their debut on November 16 on BSE and NSE.  

Bikaji Foods International IPO  

The category for qualified institutional buyers' received 80.63 times on the final day, while portion for non-institutional investors was subscribed 7.10 times. The retail individual investors' portion was booked 4.77 times, taking the total IPO subscription to 26.67 times. 

The IPO was purely an offer for sale (OFS) of 29,373,984 shares with a price band of Rs 285 and Rs 300. As the IPO was completely an OFS, the company would not receive any proceeds from the issue. Bikaji Foods mobilised Rs 262 crore from anchor investors ahead of its IPO. The IPO was held from November 3 to November 7. The shares are likely to make their debut on November 16 on BSE and NSE.  

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