Home / Business and Economy / Avience Biomedicals IPO Soars, Riyaasat Trails
Avience Biomedicals IPO Soars, Riyaasat Trails
22 Jun
Summary
- Avience Biomedicals IPO heavily oversubscribed, especially by retail investors.
- Riyaasat Lifestyle IPO faces weak subscription and zero GMP before closing.
- Both SMEs aim to raise around Rs 30 crore each in their IPOs.
The bidding period for two Small and Medium Enterprise (SME) Initial Public Offerings (IPOs), Riyaasat Lifestyle and Avience Biomedicals, is set to close today, June 22. Avience Biomedicals has experienced a highly successful subscription period, achieving an overall subscription rate of 43.79 times by the second day of bidding. Its subscription in the individual investors category reached an impressive 58.97 times, while the NII category saw 66.36 times subscription.
Conversely, Riyaasat Lifestyle IPO has not garnered significant investor interest, with its overall subscription rate being a mere 0.08 times in the first two days. The grey market premium (GMP) for Avience Biomedicals indicates a potential listing gain of 33.65%, signaling strong investor confidence. However, Riyaasat Lifestyle's GMP remained at zero, suggesting a muted listing prospect.
Avience Biomedicals aims to raise Rs 30.24 crore, with its price band set between Rs 196-208. Riyaasat Lifestyle intends to mobilize Rs 30.77 crore, with a price band of Rs 102-108. The IPOs are scheduled for allotment on June 23, with refunds and share credits expected on June 24, leading to a listing on June 25.
