A bad time in stock market as well in SMEs. Today's both listing the worst for investors. Who afford to book loss has no problem. Otherwise funds blocked and not certain to reach allotment price. Better to wait for better issue and save the funds. Never be so hopeful, otherwise it will be called greed. I had not applied in both. Was not expecting gains on listing. My way of thinking. It better to change track sometimes.
Mainboards are coming at a better valuation like uday and these sme IPOs are still commanding premium for their shares. Sme Ipos should come at reasonable price without debt or very less. Recently All debt ridden companies have fell very badly.
The Commsnd Polymers have no *COMMAND* over its IPO. Very poor subscription figures. This is most probably the first time that all members have posted as 'Not Applied'/'Skipped'. Not able to find a single post 'Applied'. So one can understand the fate of listing. Still subscribed fully. But share market is unpredictable. I have also skipped.
2nd IPO Devolved after Patrom Exim Limited SME IPO in 2023.
The issue of "Sudarshan Pharma" was also Devolved (Under subscribed) for valid application as per BOA and LM as underwriter has to subscribed for 4,22,400 equity shares worth Rs. 308.35 Lakhs from there own pocket 🙏 to save the listing and sail through.
A big setback for Merchant Banker's to do IPO's like this.
Hope Merchant Bankers will be more cautious while choosing the company proposed for listing in near future.