3 IPOs list on the bourses in this week

During the current week starting on 30th May, 3 IPOs are making their debut on the bourses. There are no IPOs looking to raise money in the markets. The 3 IPOs to list include Ethos Ltd, which listed on Monday, eMudhra Ltd, which is expected to list on Wednesday, and finally the IPO of Aether Industries, which is slated to list on the stock exchanges on Friday, the last day of the current week.

Let us first talk about the Ethos IPO that listed on NSE and the BSE on Monday 30th May. Ethos is a high end watch retailing company that sells international marquee brands through its marketing and retail network in India.

These include highly respected global brands like Rado, Tissot, Longines, Omega as well as the high end brands like Baume and Mercier. The outlets are spread out across the length and breadth of India.

Ethos IPO was just about subscribed 1.04 times with the retail portion actually getting undersubscribed. The price was discovered at the upper end of the band at Rs.878. However, on 30th May, the stock listed on the NSE at a discounted price of Rs.825.

The sentiments remained weak through the day. It touched a high of Rs.839.95 in the day and a low of Rs.773 before closing the day 9% lower than the IPO price at Rs.801.40.
 

The stock traded about 26.38 lakh shares on the NSE on Monday while the value of the trades were Rs.212 crore. On the NSE and the BSE, the stock closed below the IPO price and also below the listing price in the morning. At the close of trading on 30th May, Ethos Ltd had a market cap of Rs.1,874 crore and a free float market cap of about Rs.244 crore. 

The eMudhra IPO lists on the bourses on Wednesday, 01st June 2022. The IPO was subscribed 2.72 times with bulk of the support coming from the QIBs. The IPO has also been priced at the upper band of the range at Rs.256 per share.

The shares are expected to be credited to the demat accounts of eligible investors by the close of 31st May 2022. The overall size of the issue was relatively small at Rs412.79 crore. eMudhra is a reputed certifying authority for digital signatures for authentication purposes.

Finally, on Friday 03rd June, Aether Industries will list on the bourses. The Aether IPO was subscribed 6.26 times with bulk of the support coming from the QIBs at 17.57 times. The IPO is likely to be priced at the upper band of the range at Rs642 per share.

The shares are expected to be credited to the demat accounts of eligible investors by the close of 02nd June 2022. The overall size of the issue was Rs808.04 crore. Aether is a specialty chemicals company with 2 manufacturing plants in Sachin near Surat in the state of Gujarat.
 

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