Shares of Go Fashion, a company that makes women's bottom wear brand, made investors rich today. Its stock was listed at Rs 1,316 with a gain of 90.72%. The company had priced the IPO at Rs 690. Its IPO was open from 17 to 22 November.
On the Bombay Stock Exchange (BSE), however, the stock was trading at Rs 1,217, down about 12% later. It made a high of Rs 1,341 and a low of Rs 1,210 during the day. The company's market cap stood at Rs 6,500 crore. The stock was listed on the National Stock Exchange (NSE) with a gain of 89.86%. This IPO got 135 times response from investors.
The shares of this company were trading at a premium of Rs 490 per share in the grey market. That is, it was running 70% higher than the issue price. Analysts say that the company has a strong business model and offers its products at reasonable prices. The company sold shares in the IPO at Rs 650 to 690. It had raised Rs 1,013 crore. Retail investors' share was filled 50 times.
On the other hand, the IPO of Star Health is open from today. This issue is filled 0.06 times in the first two hours. The company has entered the market to raise Rs 7,249 crore. Its price range has been fixed at Rs 870 to 900. In this, Rakesh Jhunjhunwala and his wife have more than a 17% stake. He is getting a profit of 5.78 times in the issue as compared to the price at which he had bought the shares. That is, in 32 months, Jhunjhuwala's investment of Rs 100 has become Rs 578. He started buying a stake in it in March 2019.
Star Allied Health is a private insurance company. It deals in health insurance. Its market share is 15.8%. However, its stock is expensive as compared to listed insurance companies. The issue will remain open till December 2 and investors can bid for a minimum of 16 shares. It has raised Rs 3,217 crore from 62 anchor investors at Rs 900 per share.
The company had posted a loss of Rs 380 crore in the September half. It had a loss of Rs 825 crore between FY 2021 i.e. April 2020 to March 2021. As of September 2021, the company had 779 branches spread across 25 states. It has 562 sales managers. At present, there is a total of 6 insurance companies listed in the market.