IPO in 2024: The year 2023 was being called the year of IPO. After this, everyone had predicted that IPOs will dominate the stock market in 2024 also. But, no one had thought that there would be an uproar in the IPO market in the very first week of the year 2024. Small companies will do wonders which even big companies have failed to do.
IPOs of Kaushalya Logistics and KC Energy dominate
We are talking about Kaushalya Logistics and Kay Cee Energy & Infra. Both these companies have launched SME IPO. Kaushalya's Rs 36.60 crore IPO was launched on December 29 and will close on January 3, while KC Energy's Rs 15.93 crore IPO opened on December 28 and closed on January 2.
KC Energy's IPO created history
According to chittorgarh.com, both these companies have received tremendous response from the market. But, surprising everyone, the IPO of KC Energy has created history. The IPO of the SME company closed after being subscribed 1,052.45 times. Its public issue has been subscribed 1,311.10 times in retail category, QIB 127.71 times and NII category 1,668.97 times. Allotment of its shares will take place tomorrow. Its shares will be listed on NSE on January 5. The price band of the IPO was kept at Rs 51 to Rs 54 per share.
Kaushalya Logistics' IPO will close on January 3
Kaushalya Logistics' IPO has been subscribed 141.82 times till the evening of January 2. Its public issue has been subscribed 195.71 times in retail category, 4.55 times in QIB and 209.79 times in NII category. There is still one more day left in its subscription. It is expected that this IPO will also create a record on its last day. The price band of the company's IPO has been kept at Rs 71 to Rs 75 per share.
Money can double
KC Energy's IPO is making waves in the gray market. Its GMP is running at Rs 65. On the other hand, GMP of Kaushalya Logistics IPO is also currently running at a premium of Rs 60. It is expected to increase further. Market experts expect that these shares will at least double investors' money on the day of listing.
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