The IPOs of Skyways Air Services, Symbiotec Pharmalab and Hy Tech Engineers closed on Thursday on a strong note, with all three issues attracting hefty investor demand. Hy Tech Engineers led the pack with a 244.41-times subscription, followed by Symbiotec Pharmalab at 71.26 times and Skyways Air Services at 71.25 times.
Hy Tech Engineers IPO received an overall subscription of 244.41 times, with the QIB portion booked 255.77 times, the NII portion 402.29 times and the retail portion 170.58 times.
The Skyways IPO comprised a fresh issue of up to 2.89 crore shares and an offer-for-sale (OFS) of up to 1.33 crore shares by promoters and existing shareholders. The price band has been fixed at ₹131-138 per share.
Skyways Air Services raised ₹174.5 crore from anchor investors.
The company said proceeds from the fresh issue will be used for repayment or prepayment of borrowings, funding incremental working capital requirements and general corporate purposes.
Incorporated in 1984, Skyways Air Services operates in air and ocean freight forwarding, trucking, warehousing, customs broking, and express cargo and parcel delivery.
The IPO comprised a fresh issue of shares worth up to ₹150 crore and an OFS component amounting to ₹1,607 crore. The price band was fixed at ₹938-988 per equity share, valuing the company at around ₹6,350 crore at the upper limit.
Symbiotec Pharmalab mobilised ₹526 crore from anchor investors.
As part of the OFS, promoter Satwani Holdings LLP and investors Rosewood Investments and India Business Excellence Fund III will offload shares.
Proceeds from the fresh issue will be used for debt payment and general corporate purposes.
The Indore-based company is a research and development-driven pharmaceutical and biotechnology company with capabilities across organic chemistry, biotechnology and complex injectables.
Hy-Tech Engineers’ ₹135.73-crore IPO has fixed a price band of ₹50-53 per equity share. The Maharashtra-based company revised its IPO size by trimming the fresh issue to ₹60 crore from ₹70 crore earlier. It lifted the offer-for-sale (OFS) component to nearly 1.43 crore shares from 1.19 crore shares earlier.
The company has proposed to utilise ₹29.96 crore from the net proceeds towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-I, and ₹16 crore will be used for repayment of loans.
The remaining amount will be used for general corporate purposes.
Shares are proposed to be listed on both the BSE and NSE on September 1.
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