Top 10 Highly Subscribed IPOs in the Indian Stock Market: Breaking Records with Investor Demand

In recent years, the Indian stock market has experienced a remarkable surge in Initial Public Offerings (IPOs), many of which have been oversubscribed several hundred times. 

Top 10 Highly Subscribed IPOs in the Indian Stock Market

This overwhelming demand from investors not only signifies a strong confidence level in the respective companies but has also resulted in substantial listing gains for those fortunate enough to secure allotments.

This article delves into the ten most subscribed initial public offerings (IPOs) in the Indian stock market, emphasizing the significant elements that contributed to their prominence and the remarkable level of interest they garnered from investors.

1. Latent View Analytics IPO (2021)

Issue Size: ₹600 crore

Subscription Rate: 326.49x

Qualified Institutional Buyers (QIB): 145.48x

Non-Institutional Investors (NII): 850.66x

Retail Investors: 119.44x

Listing Gains: 160% 

Latent View Analytics

Latent View Analytics' initial public offering has emerged as the most oversubscribed IPO in recent history, drawing remarkable interest from diverse investors. 

The firm’s robust presence in the data analytics sector and the surging enthusiasm for technology-oriented enterprises rendered this IPO particularly appealing. 

Additionally, the grey market premium and expected gains upon listing further intensified the excitement, culminating in an extraordinary subscription rate of 326 times.

Key Factors for Latent View Analytics IPO Success:

• The emergence of data analytics as a vital sector. 

• Robust financial results and dominance in the market. 

• Widespread engagement from both retail and non-institutional investors.

2. Paras Defense and Space Technologies IPO (2021)

Issue Size: ₹170.78 crore

Subscription Rate: 304.26x

NII Subscription: 927.70x

Retail Investors: 112.81x

Listing Gains: 171%

Paras Defense successfully leveraged the increasing interest in defense and space technology equities. 

The initial public offering (IPO) garnered an impressive subscription rate of 927.70 times from non-institutional investors, with robust demand also evident from retail and institutional sectors. 

The company's specialized market approach and its synergy with the government's "Make in India" initiative for defense production positioned it as a preferred choice for investors.

Paras Defense and Space Technologies

Key Factors for Paras Defense and Space Technologies IPO Success:

• The defense sector in India is experiencing significant growth, characterized by strategic positioning and the awarding of government contracts. 

• This expansion has attracted considerable interest from investors, particularly in specialized areas within the industry.

3. MTAR Technologies IPO (2021)

Issue Size: ₹596.41 crore

Subscription Rate: 200.79x

QIB Subscription: 164.99x

NII Subscription: 650.79x

Listing Gains: 82.61%

MTAR Technologies

The initial public offering (IPO) of MTAR Technologies garnered considerable interest owing to its specialization in precision engineering and its active participation in the space and defense industries. 

Supported by major institutional investors, the IPO experienced substantial oversubscription, particularly within the non-institutional investor segment.

Key Factors for MTAR Technologies IPO Success:

- Critical significance in the aerospace and defense sectors.  

- Robust support from institutional entities.  

- Favorable financial projections.  

4. Mrs. Bectors Food Specialties IPO (2020)

Issue Size: ₹540.54 crore

Subscription Rate: 198.02x

NII Subscription: 620.86x

Retail Investors: 29.33x

Listing Gains: 75.35%

Mrs. Bectors Food Specialties

- Mrs. Bectors Food Specialties, recognized for its baked products and biscuits, experienced significant interest from investors.

  

- The robust demand was driven by the company's well-established brand presence.  

- Additionally, the rapid expansion of the consumer food industry contributed to this positive response.  

Key Factors for Mrs. Bectors Food Specialties IPO Success:

- Recognized brand within the consumer market.  

- Increasing consumer interest in packaged food products.  

- Strong financial performance indicators.  

5. Tatva Chintan Pharma Chem IPO (2021)

Issue Size: ₹500 crore

Subscription Rate: 180.36x

Listing Gains: 95%

Tatva Chintan Pharma Chem IPO

The initial public offering (IPO) of Tatva Chintan represented a significant achievement for the specialty chemicals industry. 

Renowned for producing essential raw materials in the pharmaceutical and chemical sectors, the company successfully garnered interest from various investors, including qualified institutional buyers (QIBs) and retail investors.

Key Factors for Tatva Chintan Pharma Chem IPO Success:

• There is a significant demand for specialty chemicals in the market. 

• The pharmaceutical industry presents considerable opportunities for growth.

• Additionally, there is robust interest from investors in specialized manufacturing sectors.

6. Tega Industries IPO (2021)

Issue Size: ₹619.23 crore

Subscription Rate: 219.04x

NII Subscription: 666.19x

Listing Gains: 67.77%

Tega Industries IPO

Tega Industries, recognized as a frontrunner in the mining industry, garnered considerable interest owing to its international footprint and strong prospects for expansion. 

The success of this initial public offering was largely fueled by the enthusiasm of non-institutional investors, complemented by robust demand from retail participants.

Key Factors for Tega Industries IPO Success:

• A significant foothold has been established within a vital industrial sector.

• The organization boasts robust international operations, which enhance its global reach. Additionally, there is a notable level of investor confidence in industries driven by commodities.

7. Nazara Technologies IPO (2021)

Issue Size: ₹582.91 crore

Subscription Rate: 175.46x

Retail Investors: 75.29x

Listing Gains: 80.74%

Nazara Technologies IPO

The initial public offering (IPO) of Nazara Technologies generated significant excitement, largely attributed to its robust standing within the gaming and e-sports sector. 

The firm's appeal to younger investors, coupled with its distinctive business approach, contributed to making this IPO one of the most successful in recent times.

Key Factors for Nazara Technologies IPO Success:

1. The gaming and e-sports industry is experiencing significant expansion. 

2. Being an early entrant in a digital marketplace offers a competitive edge. 

3. There is considerable involvement from retail investors in this sector.

8. Gala Precision Engineering IPO (2023)

Issue Size: ₹167.93 crore

Subscription Rate: 201.41x

Listing Gains: 43.13%

Gala Precision Engineering IPO

The initial public offering of Gala Precision highlighted the company's exceptional engineering capabilities, attracting a swift response from investors eager to gain access to the industrial sectors.

Key Factors for Gala Precision Engineering IPO Success:

• The expansion of the engineering industry is noteworthy.

• There has been a strong performance in operations. Additionally, there is a growing interest from institutional investors.

9. Vibhor Steel Tubes IPO (2024)

Issue Size: ₹72.17 crore

Subscription Rate: 320.05x

Listing Gains: 181.46%

Vibhor Steel Tubes IPO

The initial public offering (IPO) of Vibhor Steel Tubes experienced one of the most significant subscription rates, especially from retail and non-institutional investors. 

The combination of a relatively small issue size and strong demand led to considerable gains upon listing.

Key Factors for Vibhor Steel Tubes IPO Success:

- Preference among investors for small-cap firms.  

- Proven history of operational success.  

- Anticipation of significant listing premiums.  

10. Unicommerce eSolutions IPO (2024)

Issue Size: ₹276.57 crore

Subscription Rate: 168.35x

Listing Gains: 94.49%

- Unicommerce eSolutions, specializing in e-commerce technology, attracted significant attention from both institutional and retail investors. 

 

- As a technology-oriented firm, it leveraged the expanding e-commerce landscape in India.  

- The company's focus on innovative solutions positioned it favorably within the rapidly growing market.  

Key Factors for Unicommerce eSolutions IPO  Success:

- Significant opportunities for expansion within the e-commerce sector.  

- Attractiveness of the technology industry.  

- Growing investor enthusiasm for businesses with scalability.  

Unicommerce eSolutions IPO

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