India SME IPOs move

Novus Loyalty is recorded by BSE as the 711th company to list on the exchange’s SME platform. (bseindia.com) The company’s IPO was issued at ₹146 a share for a total size of ₹60.15 crore. (bseindia.com) Novus’s stock hit a listing high of ₹146 but traded down to ₹138.70 — a c.5% discount to the issue price — with about 16.85 lakh shares changing hands on debut. (business-standard.com) Tipco Engineering’s SME offer closed with 1.56x subscription and raised ₹60.55 crore at the upper price band of ₹84–89 per share. (indiaipo.in) Qualified institutional buyers took 3.2x of their quota while the retail tranche was subscribed about 66%; the basis of allotment was scheduled for late March with a BSE SME listing planned for April 1. (indiaipo.in) Vivid Electromech mobilised roughly ₹37.1 crore from anchor investors ahead of an IPO pitched to raise up to ₹130.54 crore with a price band of ₹528–555 per share. (capitalmarket.com) The Vivid issue opened for subscription in late March with an allotment window in early April and a tentative NSE SME listing in the first week of April. (chittorgarh.com) Central Mine Planning & Design Institute’s large-cap IPO — about ₹1,842 crore at a ₹163–172 price band — was subscribed c.1.05x, with shares slated to list on both NSE and BSE on March 30 and a reported grey market premium near 5%. (moneycontrol.com) Speciality Medicines’ SME issue of ₹29.14 crore was reported subscribed ~2.19x overall, with the QIB portion astonishingly oversubscribed (around 96x); the allotment was finalised in late March and the final issue price was set at ₹124 per share. (moneycontrol.com)