IPO Market Highlights: Balaji Phosphates Debuts at 7% Premium, NAPS Global India IPO Allotment & More
The Indian primary market experienced a relatively quiet day on Friday, March 7, with no major initial public offerings (IPOs) open for bidding. However, the market remained active with key developments such as NAPS Global India IPO allotment updates, a positive listing of Balaji Phosphates on NSE Emerge, and upcoming SME and mainboard IPOs set to launch in the coming weeks.
Despite the lack of major IPO activity, investor sentiment remained cautious, especially after a series of underwhelming listings earlier in the week. However, the successful listing of Balaji Phosphates, which debuted at a 7% premium, provided some relief. Additionally, market participants were closely watching developments around mega IPOs, including LG Electronics India, Canara Bank’s subsidiaries, and Ecom Express.
NAPS Global India IPO Allotment Status to be Announced Today
One of the major highlights in the IPO market was the upcoming allotment announcement of NAPS Global India Ltd. The SME IPO, valued at ₹11.88 crore, closed its subscription on March 6, 2025, after being subscribed 1.24 times.
How to Check NAPS Global India IPO Allotment Status?
Investors who applied for the IPO can check the allotment status through:
- BSE Website: Investors can visit the BSE IPO Allotment Page, enter their application number or PAN, and verify their allotment status.
- Registrar Website (Cameo Corporate Services Ltd): The IPO registrar provides a dedicated link where applicants can check their allotment using their application details.
Following the allotment announcement on March 7, the shares of NAPS Global India are scheduled to be listed on the BSE SME platform on March 11, 2025.
Balaji Phosphates IPO Lists at 7% Premium
Providing some relief to investors, Balaji Phosphates Ltd, an SME firm engaged in the manufacturing and supply of fertilizers, debuted at a 7.14% premium on the NSE Emerge platform.
- Issue Price: ₹70 per share
- Listing Price: ₹75 per share
- Subscription: 1.2 times
The Balaji Phosphates IPO was open for public subscription between February 28 and March 4, receiving moderate demand. The positive listing comes after a week of disappointing IPO debuts, signaling improved investor sentiment for SME listings.
Upcoming SME IPOs Next Week
The primary market is set to witness multiple SME IPO launches next week, including:
1. PDP Shipping & Projects IPO
- IPO Opening Date: March 10, 2025
- IPO Closing Date: March 12, 2025
- Issue Size: ₹12.65 crore
- Price per Share: ₹135
- Minimum Lot Size: 1,000 shares
2. Super Iron Foundry Ltd IPO
- IPO Opening Date: March 11, 2025
- IPO Closing Date: March 13, 2025
- Issue Size: ₹68.05 crore
- Price per Share: ₹108
- Minimum Lot Size: 1,200 shares
- Listing Date: March 19, 2025 (BSE SME platform)
The participation in SME IPOs has remained selective, with investors closely watching demand and subscription numbers before making commitments.
Upcoming Mainboard IPOs in the Next Two Weeks
Apart from SME IPOs, two significant mainboard IPOs are expected to hit the markets soon:
1. Avanse Financial Services IPO
- Issue Size: ₹3,500 crore
- IPO Type: Book-built
- Expected Dates: Yet to be announced
2. Arisinfra Solutions IPO
- Issue Size: 28.6 million shares
- IPO Type: Book-built
- Expected Dates: Yet to be announced
Mega IPOs Expected in 2025
Several high-profile IPOs are anticipated this year, including:
1. LG Electronics India IPO
- South Korean electronics giant LG Electronics Inc. is preparing to launch the IPO of its Indian unit.
- Expected Size: $1 billion – $1.5 billion
- Expected Valuation: $15 billion
- IPO Type: Offer-for-sale (OFS) of up to 10.18 crore equity shares.
- Current Status: The company had filed its Draft Red Herring Prospectus (DRHP) in December 2024 and has been conducting roadshows with investors.
2. Canara Bank’s IPO Plans
- The Reserve Bank of India (RBI) has granted approval to Canara Bank for the divestment of equity stakes in two subsidiaries:
- Canara Robeco Asset Management Company (AMC)
- Canara HSBC Life Insurance Company
- These divestments will be conducted via public issues, adding to the list of major IPOs in 2025.
3. Ecom Express IPO
- Gurugram-based third-party logistics provider Ecom Express is also gearing up for its public issue.
- Issue Breakdown:
- Fresh Issue: ₹1,284.5 crore
- Offer-for-Sale (OFS): ₹1,315.5 crore
The upcoming IPOs in financial services, logistics, and electronics indicate a diverse mix of public offerings in 2025.
Conclusion
The IPO market on March 7, 2025, remained relatively quiet, with no active public issues. However, key developments such as:
- NAPS Global India IPO allotment update
- Balaji Phosphates’ successful listing at a 7% premium
- Upcoming SME and mainboard IPOs
- High-profile IPOs like LG Electronics, Canara Bank’s subsidiaries, and Ecom Express
kept investors engaged.
With major IPOs lined up in the coming weeks, the market is expected to gain momentum. However, investor sentiment remains cautious, given the mixed performance of recent SME IPOs. Subscription trends in upcoming IPOs will provide insights into whether the primary market is set for a revival or will continue its selective momentum.
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