Chemplast Sanmar vs Aptus Value Housing Finance IPOs: What GMP signals on last day of subscription

Chemplast Sanmar IPO opened for subscription on August 10. Photo: iStockphoto

2 min read . Updated: 12 Aug 2021, 10:20 AM IST Livemint

Chemplast Sanmar IPO was subscribed 26% on Wednesday, the second day of subscription

Chemplast Sanmar and Aptus Value Housing Finance launched their initial public offerings (IPOs) on August 10 and the three-day share sale will close today. The four companies launching their initial share sales, including CarTrade and Nuvoco that had opened on Monday this week to raise over ₹14,628 crore collectively.

The initial share sale of Chemplast Sanmar was subscribed 26% on Wednesday, the second day of subscription. The issue received bids for 1,03,36,950 shares against 3,99,52,829 shares on offer, as per exchanges data. The quota for retail investors was subscribed 1.29 times, while that for Qualified Institutional Buyers (QIBs) 2% and non institutional investors 6%.

Aptus Value Housing Finance India received 37% subscription on the second day of offer on Wednesday. The IPO received bids for 2,06,36,700 shares against 5,51,28,500 shares on offer, according to data available with the exchanges.

As per market observers, Chemplast shares were available at a premium (GMP) of ₹15 in the grey market whereas Aptus IPO GMP was at ₹33 today, on the final day of the bidding.

Specialty chemicals company Chemplast Sanmar Limited fixed its price band in the range of ₹530-541 per share. The Rs-3,850-crore issue comprises fresh issue of equity shares worth ₹1,300 crore and an offer-for-sale (OFS) of ₹2,550 crore. On Monday, Chemplast Sanmar said it has collected over ₹1,732 crore from anchor investors.

Aptus Value Housing Finance's public issue, with a price band of ₹346-353 per share, will conclude on August 12. The initial public offering (IPO) comprises fresh issue of equity shares aggregating to ₹500 crore and an offer for sale (OFS) of up to 6,45,90,695 equity shares by promoters and existing shareholders.

Aptus Value Housing Finance on Monday said it has raised ₹834 crore from anchor investors. The net proceeds from the fresh issue will be utilised towards augmenting the company's tier-1 capital requirements.

Aptus Value Housing is one of the largest housing finance companies in South India in terms of asset under management, as of March 31, 2021 and having the largest branch network in South India among its peers.

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