Shares of TBO Tek made a stellar debut at the bourses while that of Aadhar Housing Finance was a quiet affair.
Against the IPO price of ₹920, TBO Tek listed with a premium of 50 per cent at ₹1,380 on the BSE and surged further at ₹1,455.95. Shares of the company ended at ₹1,404.85, up 52.70 per cent on the BSE. On the NSE, it listed at ₹1,426 and closed at ₹1,404.
The ₹1,551-crore initial public offering (of which ₹400 crore is fresh issue) of the global travel and tourism industry player was subscribed 86.70 times.
The company said it proposes to utilise the net proceeds of the fresh issue for growth and to strengthen its platform by adding new buyers and suppliers. TBO Tek, ahead of the issue, had raised ₹696.5 crore from 47 anchor investors.
Aadhar HF debuts
However, Blackstone-backed Aadhar Housing Finance Ltd listed at ₹314.30 with respect to the issue price of ₹315 on the BSE. During the day, it hit a high of ₹343.70 and a low of ₹293.35. Later, it closed at ₹329.55 each share, up 4.61 per cent over IPO price.
On the NSE, the stock listed at ₹315 and ended at ₹332.20 apiece, up 5.46 per cent.
The ₹3,000-crore IPO of Aadhar Housing Finance was a combination of a fresh issue (₹1,000 crore) and an OFS (₹2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc). The IPO was subscribed 25.49 times.
The company plans to utilise ₹750 crore of the fresh issue proceeds to meet the future capital requirements towards onward lending, while a portion will be used for general corporate purposes. Aadhar Housing Finance Ltd had mobilised ₹898 crore from anchor investors.