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The year 2020 witnessed more than 10 companies going public. A couple of those IPOs saw record-breaking subscriptions from investors. At least three of them were subscribed more than 100 times, making the cut to some of the highest subscribed IPOs of the decade.

Companies belonging to the IT, food and beverages, BFSI sectors dominated the IPO calendar for the year. Companies use IPOs to scale their business higher and raise funds from the market to support the same. For the investors, it is an opportunity to invest in a business that may have growth opportunities in future. 

Let’s have a look at how the IPOs performed in 2020 on the listing day and their performance until now.

Here is a quick look at the top-performing IPOs of 2020:

Issuing Company Issue Price (Rs per share) Listing Premium/Discount(-)
SBI Cards and Payment Services Ltd. 755 -13%
Happiest Minds Technologies Ltd. 166 111%
Route Mobile Ltd. 350 102.28%
Rossari Biotech Ltd. 425 58%
Gland Pharma Ltd. 1,500 14%
Likhitha Infra 120 8.4%
Mazagon Dock Shipbuilders Ltd. 145 50%
CAMS 1,230 23.41%
Chemcon Specialty 340 115%
Angel Broking 306 -10%
UTI AMC 554 -11.51%
Equitas Small Finance Bank 33 -6%
Burger King 60 92%
Mrs. Bectors 288 74%
Antony Waste Cell 315 38.44%

SBI Cards and Payment Services Ltd.

The year began with State Bank of India’s subsidiary going public. The subscription period for the SBI Cards and Payment Services launched IPO was open between March 2 and 5. SBI Cards was over-subscribed 15.5 times on the final day of bidding.

SBI Cards IPO listed on March 16, and it closed 9.51% down from its issue price at Rs 683.2 per share.  This means that the IPO listed at a discount.

About the company:

ipo blog cta

SBI Card was launched in October 1998 by State Bank of India and GE Capital. As on December 9, SBI held around 69.45% stake in the company. The company provides payment products and services.

Read more on Groww: SBI Cards IPO (Open For Subscription From 2nd-5th March)

Rossari Biotech

Rossari Biotech‘s IPO was open for subscription between July 13 and 15. The issue was subscribed 79.37 times. It received 64.87 crore bids against issue size of 81.73 lakh shares.  

The company’s shares were listed on the changes on July 23 at an issue price of Rs 425 per share. It closed at Rs 742 per share, a 74.58% premium.

About the company

Rossari Biotech is a textiles and specialty chemicals manufacturer. It also manufacturers some home and personal care products.  The company was founded in 1997.

Happiest Minds Technologies

The Happiest Minds IPO was subscribed 150.98 times as the issue received 351.18 crore bids against issue size of 2.32 crore shares. 

The portion reserved for non-institutional investors was subscribed the most, 351.46 times.  The portion reserved for institutional buyers was subscribed 77.43 times, and the portion reserved for retail investors 70.94 times. 

Happiest Minds ended 123.49% higher than its issue price of Rs 166 per share on its listing day. The stock closed at Rs 371 per share.

About The Company

Happiest Minds is an IT services provider based out of Bangalore. The company’s promoter is Ashok Soota who was also the CMD of MindTree and vice chairman of Wipro.

Route Mobile

The Route Mobile IPO was open for subscription between September 9 and 11, and it was subscribed almost 73.3 times.

The IPO received 89.23 crore bids against issue size of 1.21 crore bids. The portion reserved for non-institutional investors was subscribed the most, 192.81 times.  The portion reserved for institutional buyers was subscribed 89.76 times, and the portion reserved for retail investors 12.67 times. 

The shares of the company listed on the exchanges on September 21. Route Mobile’s share price ended 86% higher than its issue price on day 1 of listing on the exchanges. The issue price was fixed at Rs 350 per share.

About The Company

Route Mobile is a cloud communications platform provider.

CAMS

The Rs 2,244-crore IPO was subscribed almost 47 times on the last day of bidding as it received bids for 60.26 crore equity shares against issue size of 1.28 crore shares.

The share price of the company ended 13.95% higher at Rs 1,401.6 per share. Its issue price was Rs 1,230 per share.

About the company:

CAMS is a registrar and transfer agent. It is co-owned by NSE Investments Ltd., which is a subsidiary of National Stock Exchange, Faering Capital- an Indian private equity firm, HDFC Group, Warburg Pincus- a global private equity firm. 

Read more on Groww: CAMS IPO: Date, Review, Price Band, Form and Market Lot Details

Chemcon Specialty Chemicals Ltd.

The Rs 318-crore IPO was subscribed almost 149 times on the final day of bidding. The IPO received bids for 97.85 crore shares as against issue size of 65.59 lakh shares.

The share price of Chemcon ended 72% higher at Rs 584.8 per share on its first day of listing. The issue price was Rs 340 per share.

About the Company:

Chemcon Speciality Chemicals Ltd. was incorporated in 1988 and is a manufacturer of specialised chemicals like HMDS and CMIC with its manufacturing plant in Manjusar near Vadodara, Gujarat.

Read more on Groww: Chemcon IPO: Date, Review, Price Band, Form and Market Lot Details

Angel Broking

Angel Broking‘s IPO was open for subscription between September 22 and 24.  Angel Broking’s shares listed on the exchanges on October 5. The shares ended 9.87% lower than its issue price at Rs 275.8 on day 1 of listing.

The IPO was open for subscription between September 22 and 24. The IPO had been subscribed 3.94 times on the last day of bidding. It received 5.42 crore bids against issue size of 1.37 crore shares. The portion reserved for retail investors was subscribed 4.31 times. Porton reserved for institutional buyers was subscribed 5.74 times and non-institutional investors 0.69 times.

About The Company:

Launched in 1996, Angel Broking Ltd. is a broking company in India. It offers retail trading opportunities in products like equity, mutual funds, commodities, PMS, IPOs, etc., along with depository services.

Read more on Groww: Angel Broking IPO

UTI Asset Management Company

The company’s IPO had a price band of Rs 552-544 per share. It was oversubscribed by more than 2.31 times. The issue was open for subscription between September 29 and October 1.

The offer received 6.31 crore bids against issue size of 2.73 crore shares. The portion reserved for institutional investors was subscribed the most: 3.34 times.  The portion reserved for retail investors was subscribed 2.32 times and non-institutional investors-0.93 times.

The stock listed on the markets October 12, ending the day at Rs 476 per share down by around 14% from its issue price.

About the company:

UTI AMC is an asset management firm in India, and it sells mutual fund schemes.

Read more on Groww: UTI Asset Management IPO

Mazagon Dock Shipbuilders

The company’s IPO had a price band of Rs 135-145 per share. It was oversubscribed by more than 157.41 times. The issue was open for subscription between September 29 and October 1.

The offer received 481.61 crore bids against issue size of 3.05 crore shares. The portion reserved for non-institutional investors was subscribed the most, 678.88 times.  The portion reserved for retail investors was subscribed 35.63 times and non-institutional investors-89.71 times.

The stock listed on the markets on October 12. It ended the day at Rs 173 – up by around 19% from its issue price.

About the Company

The ‘Ship Builder of the Nation’, Mazagon Dock Shipbuilders Limited is a defence public sector undertaking shipyard that falls under the Department of Defence Production, MoD. It has a maximum shipbuilding and submarine capacity of 40,000 Deadweight Tonnage.

Read more on Groww:  Mazagon Dock Shipbuilders Ltd. IPO

Likhitha Infrastructure

Likhitha Infra’s IPO issue received 4.84 crore bids against issue size of 51 lakh shares. The portion reserved for retail investors was subscribed the most, 23.71 times.  The portion reserved for institutional investors was subscribed 21.99 times and non-institutional investors-1.54 times.

The share price of Likhitha Infra ended at Rs 136.6 per share on day 1 of listing – up by around 14% from its issue price. Likhita Infra listed on the exchanges on October 15. Its issue price was Rs 120 per share.

About the company:

Likhitha Infrastructure Limited is an Oil and Gas pipeline infrastructure provider in India. It was established in the year 1988 and has been engaged in the same line of business since its inception.

Read more on Groww: Likhitha Infra IPO

Equitas Small Finance Bank

Equitas Small Finance Bank’s IPO was open for subscription between October 20 and 22. The issue received 22.57 crore bids against an issue sie of 11.58 crore shares. 

The portion reserved for retail investors was subscribed 2.08 times.  The portion reserved for institutional investors was subscribed 3.91 times and non-institutional investors-0.22 times.

The shares of the company listed on exchanges on November 2. It ended at Rs 32.8 per share, very close to its issue price of Rs 33 per share.

About the company

Equitas Small Finance Bank, the largest Small Finance Bank (SFB) in India in terms of the number of outlets and the second-largest in terms of total deposits and assets under management.

Read more on Groww: Equitas Small Finance IPO

Gland Pharma 

Gland Pharma‘s IPO was open for subscription between November 9 and 11. It was subscribed almost two times as it received 6.21 crore bids against issue size of 3.02 crore shares.

The portion reserved for institutional investors was subscribed the most, 6.4 times. The portion reserved for retail investors was subscribed 0.24 times; the portion reserved for non-institutional investors was subscribed 0.51 times.

The company’s share price ended 21.3% higher than its issue price at Rs 1,819.55 per share on day 1 of listing, which was November 20, 2020.

About the company:

Incorporated in 1978, it has a presence in sterile injectables, oncology and ophthalmics, and focuses on complex injectables, NCE-1s, First-to-File products and 505(b) (2) filings.

Read more on Groww: Gland Pharma IPO

Burger King

The IPO was open for subscription between December 2 and 4.

The Burger King IPO was subscribed 156.65 times on the final day of bidding. It received 1,166.93 crore bids for 7.4 crore shares that were on offer.

On the last day of the bidding, the portion reserved for non-institutional investors (NII) bid 354.11 times. The portion reserved for qualified institutional buyers (QIB) was subscribed 86.64 times.

The portion reserved for retail investors was subscribed 68.15 times today. Retail investors were ahead of both, QIBs and NIIs, on the first two days of bidding.

The shares of Burger King listed at a 92% premium on December 14. It ended the day 125% higher at Rs 135 per share.

About the company:

Burger King India Limited is one of the fastest-growing international quick-service restaurant (QSR) chains in India during the initial five years of its operations based on the number of outlets.

Read more on Groww: Burger King IPO

Mrs Bector’s

The IPO of Mrs Bector’s Food Specialities was subscribed 198 times on the third day of bidding. 

The issue received 262 crore bids and the issue size was 1.32 crore shares. 

The portion set aside for retail investors was subscribed 29.3 times, employees bid 45.45 times and non-institutional investors bid 620.85 times.

Qualified institutional buyers (QIB) bid 176.85 times.

December 17 was the last day for bidding on this issue. The shares were listed on December 24 and it ended 106.32% higher than its issue price on day 1 of listing, at Rs 594.2 per share.

About the company:

Mrs Bector’s Food Specialities Limited is one of the leading names in the premium and mid-premium biscuits segment and the premium bakery segment in North India.

Read more on Groww: Mrs Bector’s IPO

Antony Waste Handling Cell

The initial public offering of Antony Waste Handling Cell was subscribed 15 times on the final day of bidding.

The IPO received around 9.91 crore bids against an issue size of 66.66 lakh shares.

The portion set aside for qualified institutional buyers (QIB) was subscribed 9.67 times. Retail investors subscribed 16.2 times and non-institutional investors subscribed 18.68 times.

About The Company

Antony Waste Handling Cell Limited is one of the top five players in the Indian Municipal Solid Waste (MSW) management industry. The company provides a range of MSW services including solid waste collection, transportation, processing, and disposal services across India catering to Indian municipalities.Read more on Groww: Antony Waste Cell IPO

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